A New Jersey court ruling, expected to come down Monday, could net Atlantic City's Borgata Casino Hotel $59 million.
The state court will decide on the Shore resort town's appeal of a 2013 Tax Court order that determined the city overvalued the casino by more than a billion dollars, The Press of Atlantic City reported.
Atlantic City valued the resort at about $2.2 billion for tax years 2009 and 2010. But in October 2013, after a 21-day non-jury trial, New Jersey Tax Court Judge Patrick DeAlmeida slashed the assessments to $880 million and $870 million, respectively.
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