ATLANTIC CITY (CelebrityAccess) — The Borgata Hotel, Casino & Spa in Atlantic City has refused to make a tax payment that was due Feb. 10th, citing unpaid tax appeals owed by the city.
According to the Associated Press, The Borgata skipped the $7.2 million tax payment Wednesday on the grounds that it is owed more than $170 million in tax appeals that Atlantic City says it cannot afford.
Last week, a judge ruled that the Borgata could stop making tax payments while both sides worked on a settlement. The court reaffirmed the city's obligation to pay $62.5 million in tax settlements from 2009 & 2010.
Borgata also reached a settlement with the city over tax settlements from the city for the tax years 2011-2014, which amount to $88.25 million, and which were due to be paid by Dec. 31, 2014.
Atlantic City Mayor Don Guardian has said that the city is in danger of bankruptcy and that the casino's refusal to pay Wednesday's tax bill was 'devastating.' The Borgata is the city's largest employer, providing 25% of all casino jobs in the city, and generates the most tax revenue, the Associated Press said. – Staff Writers