Borgata Casino Value Is Cut by $1.4 Billion in Tax Court Ruling
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Boyd Gaming Corp. and MGM Resorts International won a 61 percent reduction in property taxes on their Borgata Hotel and Casino in Atlantic City, a cut reflecting the decline in business there.
The assessed value of the resort, New Jersey’s top-grossing casino, was reduced to $870 million from $2.26 billion for 2010, according to an Oct. 18 decision released today by the Tax Court of New Jersey.