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U.S. Virgin Islands Could Possibly Offer Online Gambling

The U.S. Virgin Islands may soon be able to offer gaming that is online but many caveats abound. (Image source:

Most Americans know the U.S. Virgin isles for the sunshine and beautiful beaches that they are able to check out without needing to obtain a passport. But because of a ruling that is recent the islands' Attorney General, this vacation spot may soon become simply as well-known as a home for on the web gambling.

Attorney General Weighs In

V.I. Attorney General Vincent Frazer issued an impression to many other Virgin Islands officials, stating that the 2001 V.I. law that allowed for Internet gambling companies to run in the united states will never clash with any laws that are federal the usa, and therefore the law could finally be used to let the territory to host Web gambling companies. So far, the territory had held off on really permitting any online video gaming to get forward, because of warnings issued from the government that is federal.

However, as is often the case in these situations, things aren't quite that clear cut. What the law states just allows for two companies to operate as 'master service providers' within the territory, shutting out virtually any operators that are potential. And at least one of those companies says that they've lost most of their investors in the 12 years considering that the legislation has passed, due to the doubt around whether or not they'd

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Property Tax Plummet for Borgata is Sucker Punch for Atlantic City

Atlantic City just got hit by another storm recently; this one, financial. (Image source:

Poor Atlantic City.

It gets battered by hurricanes, has its profits siphoned off by ever-increasing competition from surrounding states like Pennsylvania and Maryland, and has seen a seven-year continuous drop in gaming profits from its 12 land casinos overall. Finally, it has online casinos ready to launch on November 26th, and things are looking up from the income stream point of view.

However it gets another smack in the real face from the income tax man.

Tax Assessment Reversal for Borgata

Exactly What proved to be considered a huge victory for MGM Resorts International and Boyd Gaming wasn't a great deal for the currently faltering coffers of Atlantic City; the two gaming behemoths got a 61 per cent decrease in property taxes on their jointly owned Borgata Hotel and Casino which also happens to be certainly one of the less miserable profit disasters in town and now AC has to return pre-paid tax monies towards the two companies.

They can blame it on the Tax Court of New Jersey, which reassessed the top-grossing casino in the huuuge casino Garden State at $870 million, a huge drop from its 2010 evaluation of $2.26 billion. Without doubt there was champagne that is celebratory the MGM and Boyd Gaming conference rooms over that decision. But Atlantic City leaders must be putting their fists through some walls, due

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