The New Jersey Casino Reinvestment Development Authority has approved a 2017-18 operating budget, which decreases spending by more than 14 percent.
The $8.7 million budget is down $1.4 million from last year. The cuts were achieved mostly through cuts in CRDA staff.
The authority overseas the Atlantic City tourism district and funds improvement projects throughout the city and state.
“This budget clearly demonstrates the CRDA’s commitment to the Tourism District and to this great destination city,” said Chris Howard, executive director of the state agency in a press release. “By investing available funding in a wide range of partnerships, CRDA will continue to be a key part of the momentum driving the renaissance of Atlantic City. We are excited for all the great things to come in 2018.”
The authority cut 15 percent of its full-time staff during a reorganization in March, according to a report in the Press of Atlantic City. The cuts came after the authority lost $22 million in casino tax revenue as part of a state-implemented Atlantic City rescue package.
The CRDA Board also approved the budget for Meet AC, the resort’s convention and visitor’s bureau which stayed steady at $7 million, according to the Press.
