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Casino Execs Don't Foresee Another Tax Hike

ATLANTIC CITY, New Jersey – As reported by the Associated Press: "Casino executives are telling Wall Street analysts that the State of New Jersey will not hike gaming taxes again next year.

"`We are confident there will not be a tax increase in 2004. Conversations with people in Trenton have confirmed our outlook,' Timothy Wilmott, Harrah's Entertainment chief operating officer, said Wednesday on his company's third-quarter earnings conference call.

"…Gov. James E. McGreevey last winter surprised the industry with his push for $135 million in new casino taxes. On July 1 he signed a $90 million gaming-tax bill.

"McGreevey has not publicly pledged to avoid higher gaming taxes next year, but his spokesman said Wednesday that the governor is committed to attracting capital here.

"…Casino bosses said they've begun to repair their relationship with the governor after the bitter five-month tax fight.

"…Executives did not mention the possibility of McGreevey renewing his idea to allow slots at racetracks…"

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