New Jersey Regulation and Legislation to Watch in 2022
Shaping New Jersey's adult-use recreational marijuana market and other social policy efforts are expected to dominate its regulatory scene in 2022, while on other fronts Atlantic City casinos are set to avoid millions in payments to local government entities, insurers will potentially face "bad faith" suits, and attorneys are looking at proposed rules for fee-shifting cases.
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But Stephen D. Schrier, co-chair of Blank Rome LLP's gambling practice, argued that it's fair to eliminate revenues from internet casino gambling and internet sports betting in calculating PILOT payments because casinos' contractual arrangements ultimately leave them with only part of those dollars.
Attributing such revenues to the casinos is "kind of a misinformed way to do it, because the casinos don't gain that revenue in the same way that they do from their own slot machines or table games," Schrier said.
"The basis for taking out those calculations is valid and improving the opportunity in Atlantic City for the casinos to make some money and reinvest it I see as a positive," Schrier said. "I don't see that as necessarily being a reason to criticize it."
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“New Jersey Regulation and Legislation to Watch in 2022,” by Bill Wichert was published in Law360 on January 3, 2022.