Owed $170M by AC, Borgata skipping $7.2M tax payment
Atlantic City’s most successful casino is sitting on its checkbook as part of a multi-million dollar tax showdown.
The Borgata is refusing to make a $7.2 million tax payment due Wednesday.
The casino is owed more than $170 million in tax appeals it has won from Atlantic City, and which they city says it cannot pay.
Last week, a judge allowed the Borgata to stop making tax payments while both sides explore a settlement.
The court says the Borgata can refuse to make tax payments until the city hands over $62.5 million in payments for tax years 2009-10.
Mayor Don Guardian says the city is in danger of running out of money and declaring bankruptcy.
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