Next to Nevada and Pennsylvania, New Jersey is the third-largest state for gaming revenue. But Atlantic City is second only to Las Vegas when it comes to casinos towns. While a number of casinos have shuttered their doors in Atlantic City over the last number of years, the city is experiencing a bit of resurgence, with gaming revenue increasing. As a result, Atlantic City is still the top spot for gambling when you’re on the East Coast.
Canadians and other non-U.S. residents who head to Atlantic City need to remember that their casino winnings could be subject to a 30% withholding tax by the IRS. When it comes to reclaiming a portion or all of your withheld winnings, no one is more successful than Refund Management Services (RMS).
Atlantic City Gaming Revenue Up
Atlantic City has been the top destination for gambling on the East Coast for close to 40 years, but that doesn’t mean Atlantic City hasn’t had its troubles. Because of the U.S. economic slowdown, four of the 12 casinos in Atlantic City (The Atlantic Club, Showboat, Revel, and Trump Plaza) went out of business in 2014.
But the casinos in Atlantic City have been experiencing a bit of renaissance. The city’s eight casinos generated $2.56 billion in 2015—that’s a 3.1% increase compared to what the same eight casinos brought in in 2014.1
Most recently, in July, the city’s eight casinos brought in $257.9 million in revenue, a 5.3% increase over July 2015. The most popular casino in Atlantic City in July was the Borgata Casino, which saw its revenue jump 12.5% to $80.8 million.2
Patrons at Caesars helped the casino’s revenue increase 7.6% to $31.2 million. The casino that experienced the largest year-over-year increase is the Tropicana with its July 2016 revenue jumping 13.8% to $33.2 million.
3 of the Most Popular Atlantic City Casinos
Below is a list of the three most popular casinos in Atlantic City.
Borgata Hotel Casino & Spa
The Borgata is an upscale casino and spa that overlooks the marina in Renaissance Pointe and is just minutes from the Atlantic City Boardwalk (of Monopoly fame) and the Atlantic Ocean.
The 161,000 square foot casino boasts 3,475 slot machines and over 250 table games, the largest Poker Room in Atlantic City (with daily tournaments), and Racebook with 100 seats and individual flat screen monitors.3
Caesars Atlantic City Hotel & Casino
Caesars Atlantic City is an Ancient Rome-themed casino/hotel that is right on the boardwalk. The casino floor covers 145,000 square feet, on which you’ll find more than 2,000 slot machines and more than 175 table games on which you can play everything from Blackjack to Craps.4
The Poker Arena at Caesars is open 24/7 for live cash games and has more than 20 smoke-free tables and dozens of 50” flat screen TVs.
Tropicana Casino & Resort Atlantic City
The Tropicana is just a few minutes down the beach from Caesars and isinspired by the famous Tropicana casino in Havana. The casino at the Tropicana has been voted the “luckiest” Atlantic City casino for many years, and remains one of the hottest spots to play on the East coast.5
The casino has more than 2,600 slot machines and 170 table games. Tropicana’s poker room—one of the biggest in Atlantic City—has 22 tables and is open 24 hours a day. Tropicana’s Jade Palace, which is located on the casino floor, offers Mini-Baccarat, Pai Gow Poker, and Pai Gow Tiles.
U.S. Casino Winnings Subject to 30% Withholding Tax
Whether you win playing the slots in Las Vegas, Atlantic City, Chicago, Detroit, the Poconos, or anywhere in the U.S, your winnings could be subject to a 30% withholding tax by the Internal Revenue Service (IRS).
Non-U.S. residents that win a significant amount of money (typically over $1,200) while visiting the United States are subject to a 30% withholding tax. Unlike in Canada, casino winnings and other games of chances (like game shows, Bingo, horse racing, etc.) are considered income and need to be taxed. For example, if you win $1,500 playing the slots, the casino will pay you $1,050. The IRS keeps the rest.
But, if you live in a country like Canada, which has signed a U.S. tax treaty, you may be eligible for a refund.
There are a number of countries that currently do not have a U.S. tax treaty. However, if you reside in any of the following countries, you could still be eligible for a refund: Australia, Bahrain, Barbados, Brazil, China, India, Indonesia, Israel, Kuwait, Mexico, Malaysia, Monaco, New Zealand, Norway, Saudi Arabia, Singapore, South Korea, Switzerland, Taiwan, Thailand, and the U.A.E.
To see if you meet the criteria and are eligible to get some or all of your withholding tax back, contact RMS.
RMS, the Easiest Way to Get Your 30% Withholding Tax Back
If you visited Atlantic City and had 30% of your casino winnings held back by the IRS, RMS can help you reclaim a portion or all of your taxable winnings.
RMS was founded by a Canadian Chartered Accountant in 1998, and since then, has become the most reliable and experienced gaming and casino tax refund provider for non-U.S. residents.
For almost 20 years, RMS has helped thousands of people around the world recover taxes on their U.S. gaming wins. Best of all, we’ve never been refused an eligible refund.
Only RMS has the One Simple StepTM process. Our customer service agents take care of the rest: processing and submitting it to the IRS. It can take a minimum of one year for the IRS to review the claim and for RMS to receive the refund.
Contact RMS today by calling our toll-free number at 1-888-272-5559 or by emailing us at [email protected]
1. “Atlantic City casino revenue cut by half over 9 years,” Fox News, January 13, 2016; http://www.foxnews.com/us/2016/01/13/atlantic-city-casino-revenue-cut-by-half-over-9-years.html.
2. “DGE Announces July 2016 Gaming Revenue Results,” New Jersey Division of Gaming Enforcement, August 12, 2016; http://www.nj.gov/lps/ge/docs/Financials/PressRel2016/July2016.pdf.
3. “Casino,” The Borgata web site, last accessed August 17, 2016; https://www.theborgata.com/casino.
4. “Casino,” Caesars Atlantic City web site, last accessed August 17, 2016; https://www.caesars.com/caesars-ac/casino.
5. “Casino,” Tropicana web site, last accessed August 17, 2016; https://tropicana.net/casino/.