Duane Morris Helps Secure $19.5 Million Tax Credit for Casino

A team of Duane Morris lawyers, led by Gil Brooks of the firm’s Cherry Hill office, helped the Atlantic Club Casino Hotel reach a settlement agreement with Atlantic City getting the casino a $19.5 million tax credit. The team representing RIH Acquisitions NJ, LLC, which owns and trades as Atlantic Club, included Duane Morris attorneys Frank Suglia, Cathy Sakach and George Kroculick, among others. The settlement approved by A.C.’s City Council after numerous property tax appeals in the Tax Court of New Jersey, reduces the casino’s taxable assessed value by more than two-thirds, from $543 million down to $165 million. The casino’s multimillion dollar tax credit will reportedly be delivered in some combination of cash payments and future credits.

To read articles on the settlement, please visit the Press of Atlantic City and NJBIZ.

Duane Morris Partner J. Scott Kramer Appointed Chair of the PA Bar Association Gaming Law Committee

Congratulations to Duane Morris partner J. Scott Kramer on being appointed Chair of the Pennsylvania Bar Association Gaming Law Committee for 2012-13. Scott will lead the committee as it endeavors to review, study and make recommendations concerning legislative proposals in the area of gaming law; promote the understanding of laws, regulations and court decisions; and develop materials and educational programs to promote improvements in the field of gaming law.

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The opinions expressed on this blog are those of the author and are not to be construed as legal advice.

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