RSS Feed

Tech Support

The New Jersey gaming executive took issue with the company's reporting between October 2023 and May 2024, adding that the company allocated at least $4.5 million in promotional credits, but no money fell out of this category. This comes amid widespread discussion about changes in overall reporting in the market.

Borgata in Hot Water with New Jersey Regulators
The property was taxed less by about $365,161 in its June 2024 tax return because the promotional credits were deducted from its income. The property said it did not contest the ruling and would condone the fine set at $75,000 by regulators.

In a statement to Borgata SVP and legal adviser Patrick Madamba, the regulator said the breach involved BetMGMiGaming operations and was not the first time the company had been reprimanded for reporting promotional credits.

A similar incident happened in March 2023, when the company reportedly paid $787,000 less. The organization may have been failing to track the huge amount of promotional credits.

However, Mary Jo Flaherty, the New Jersey watchdog's interim supervisor on behalf of retired David Lebuck, expressed concern about the way the income was tracked. She said the underestimation was serious, and it was already the second violation by the company.