ATLANTIC CITY, N.J. (AP) — New Jersey’s top casino, the Borgata, has come under fire for allegedly underpaying its online gambling taxes by a whopping $1.1 million, state officials announced on Friday.
The state Division of Gaming Enforcement revealed that an audit had uncovered discrepancies in the amount of taxes being paid by the popular Atlantic City casino for its online gambling operations. According to the audit, the Borgata had failed to properly report and remit $1.1 million in taxes over a period of several months.
The Borgata, which is owned by MGM Resorts International, has denied any wrongdoing and has vowed to cooperate fully with the state’s investigation. In a statement released to the press, the casino said it was “surprised and disappointed” by the allegations and was committed to resolving the matter in a timely and fair manner.
The allegations against the Borgata come at a time when online gambling in New Jersey is booming, with revenues reaching record highs in recent months. The state legalized online gambling in 2013 in an effort to boost its struggling casino industry, and the move has proven to be a success, providing a much-needed revenue stream for the state.
State officials have been quick to crack down on any casinos found to be underpaying their taxes, as they seek to ensure that all operators are playing by the rules. The Borgata’s alleged tax discrepancies are just the latest in a series of infractions by New Jersey casinos in recent years, as the state fights to maintain the integrity of its gambling industry.
The Borgata, which has long been considered Atlantic City’s premier casino, is now facing scrutiny over its financial practices. The casino has been a major player in the New Jersey gambling market for over a decade, and has consistently ranked as one of the top revenue generators in the state.
The Borgata’s reputation is now at stake as it navigates this latest challenge. State officials have warned that if the Borgata is found to have underpaid its taxes, it could face hefty fines and possible suspension of its online gambling license.
In the meantime, the Borgata has pledged to work closely with state regulators to resolve the matter and ensure full compliance with New Jersey’s gambling laws. The casino is also conducting its own internal investigation to determine the cause of the alleged tax discrepancies.
As the investigation unfolds, all eyes will be on the Borgata, as the casino works to repair its tarnished reputation and prove its commitment to transparency and accountability in the New Jersey gambling industry.
