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Despite casinos big cut, A.C. tax rate up 16% - 2004-02-05
The city's planned 17.5-cent tax rate raise would have been almost double that amount if it weren't for the addition of casino projects to the city's ratable base.

The new casino construction pushed the value of the city to nearly $7.8 billion, an increase of more than $415 million. That increase alone is about equal to the assessed value of all of Absecon.

Yet even with the higher assessments, city officials say the best they could do was deliver a budget that carries a tax rate of $1.94 per $100 of assessed value.
Read the full story at Press of Atlantic City

Borgata thrives, plans expansion - 2004-02-05
Borgata is on a fast track to becoming Atlantic City's most profitable casino and already is planning a 500,000-square-foot expansion.

"Things just keep getting better there," Ellis Landau, Boyd Gaming chief financial officer, said Wednesday on a conference call to discuss fourth-quarter earnings.

Borgata produced cash flow of $33.9 million on net revenue of $142 million in its second quarter of operation. Its cash flow was $400,000 behind market leader Harrah's and its revenue was $9 million behind leader Bally's.
Read the full story at Press of Atlantic City