Casino Reinvestment Development Authority

What Casino Reinvestment Development Authority does

The Casino Reinvestment Development Authority (CRDA) is a New Jersey state authority established in 1984 by the State Legislature to channel mandatory casino reinvestment funding into economic and community development across Atlantic City, New Jersey. It is described as the only agency of its kind in the United States. Casinos operating in Atlantic City elect to either pay 2.5% of gaming revenue directly to the State or reinvest 1.25% through CRDA in community and economic development projects, and that 1.25% reinvestment obligation (50-year duration) anchors CRDA's capital base. CRDA is governed by a 17-member Board of Directors comprising gubernatorial appointees, Senate and Assembly appointees, casino representatives, the Atlantic City Mayor, and ex-officio state officers, and reports under the New Jersey Department of Community Affairs.

CRDA's core products and services fall into four buckets: (i) financial programs (community development grants and loans, the updated 2025 $2 million Microloan Program, the Casino Hotel Expansion Fund that has leveraged $175M into $1B+ of hotel expansion projects, and bond financing with a 2-point origination fee and statutory rate of 2/3 the applicable bond index plus 5% servicing fee); (ii) Special Improvement Division (SID) services — maintenance (43 year-round staff plus up to 25 seasonal), ambassador/environmental services (30 full-time plus 30 seasonal), graffiti removal, landscaping, and snow removal — funded by property assessments on Tourism District businesses; (iii) Tourism District land use and planning under the 2011 Tourism District Act (Marina District, Ducktown, Chelsea, South Inlet, Bader Field, Gardner's Basin, and 10 roadways), including CLUC certifications, variance requests, and redevelopment plans; and (iv) venue management — Historic Boardwalk Hall and the Atlantic City Convention Center, with Boardwalk Hall events generating $75M in annual economic impact per Pollstar.

CRDA's underlying technology is intentionally lean and government-scale rather than proprietary: an ArcGIS-based Engage AC GIS platform providing demographic and master-plan data sourced from the US Census Bureau's American Community Survey 2014-2018, the WIPP/Edmunds Associates transactional system for SID assessment payments, and the Bonfire procurement portal for vendor RFPs and contract awards. Revenue mechanics combine the 1.25% statutory casino reinvestment (treated functionally as a licensing/royalty stream), a statutorily mandated return on investment for casinos via CRDA, SID property assessments (a managed-services levy), Wave Garage parking income, and a partial $3/night casino hotel occupancy fee underwriting bond programs. The customer set spans Atlantic City residents and community, casino and hospitality operators (Hard Rock, Resorts, Tropicana, Caesars, Borgata, etc.), private developers undertaking mixed-use, residential, and commercial projects, tourism and convention visitors, and government partners including the City of Atlantic City, Atlantic County, the NJ Casino Control Commission, the Division of Gaming Enforcement, DCA, the Greater Atlantic City Chamber, and Visit Atlantic City.

Name

Casino Reinvestment Development Authority

Legal name

Casino Reinvestment Development Authority

Website

https://njcrda.com

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

101–250 employees

Short description

CRDA is a New Jersey state authority that channels mandatory casino reinvestment funding into community and economic development across Atlantic City, while operating the Tourism District's land use authority, the Special Improvement Division, and the Historic Boardwalk Hall and Atlantic City Convention Center.

Ownership category

akta.pro rank

Product category

Public Sector Economic Development

NAICS

Convention and Trade Show Organizers (561920), Convention and Visitors Bureaus (561591), Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors (92615)

akta.pro primary industry

Convention Campus & District Operators (Integrated Venue Districts) (THAHAAAL)

akta.pro secondary industries

Convention & Exhibition Centers (Public Convention Centers, Civic Centers) (THAHAAAA), Destination/Regional Casinos (Drive-to Markets) (MPAEAAAC)

Keywords

• Economic development authority
• Casino reinvestment programs
• Tourism district management
• Community development grants
• Municipal bond financing

Headquarters

HQ city

Atlantic City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Casino Reinvestment Revenue: Each casino is required to pay 1.25% of its annual gaming revenues for 50 years to CRDA for reinvestment in community and economic development projects. Casinos choose reinvestment over paying 2.5% to the State.
2. Investment Returns: By law, casinos are entitled to a return on their investments through the CRDA.
3. Special Improvement District (SID) Assessments: Property assessments collected from businesses in the Tourism District to fund cleanliness and safety services.
4. Parking Revenue: Revenue from parking facilities including the Wave Garage. A $3 casino hotel room occupancy fee partially funds various CRDA bond programs.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

CRDA is a New Jersey state authority that channels mandatory casino reinvestment funds (1.25% of annual gaming revenues for 50 years, chosen by casinos in lieu of paying 2.5% to the State) into community and economic development projects in Atlantic City, South Jersey, and North Jersey. It administers grants, loans, and bonds for eligible projects including housing, commercial development, recreation, convention/tourism infrastructure, and public transportation; manages land use planning within the Atlantic City Tourism District under the Tourism District Act; operates the Special Improvement Division (SID) for cleanliness and safety services; and presents entertainment and conventions at Historic Boardwalk Hall and the Atlantic City Convention Center.

Product overview

CRDA is a New Jersey state government authority (not a commercial product company) that provides economic and community development services in Atlantic City. The agency offers community development grants and loans for eligible projects (housing, economic development, small businesses, public facilities), manages the Special Improvement Division (SID) for cleanliness and safety in the Tourism District, oversees land use planning and development applications within the Atlantic City Tourism District, operates the Engage AC GIS data platform for public access to demographic and planning data, presents world-class entertainment and conventions at Historic Boardwalk Hall and the Atlantic City Convention Center, and facilitates procurement opportunities through its Bonfire portal. The agency also offers sponsorship opportunities for Atlantic City events.

Differentiator

Problem solved

Functional benefit

Products and services

• Community Development Grants and Loans Financial assistance programs offering grants, loans, and bonds for community development projects in Atlantic City, including affordable housing, mixed-use redevelopment, small business support, neighborhood planning, and projects benefitting residents. Funded through mandatory casino reinvestment obligations and offered to qualifying developers, government entities, and community organizations.
• Special Improvement Division (SID) Services Division delivering cleanliness, safety, ambassador, and maintenance services throughout the Atlantic City Tourism District, including general maintenance, boardwalk cleaning, landscaping, graffiti removal, and snow removal, funded by SID assessments on Tourism District property owners and businesses.
• Tourism District Land Use Planning and Development Services Statutory land use planning and permitting services within the Atlantic City Tourism District, including development application intake, CLUC certifications, variance requests, redevelopment plan administration, and land use hearings, provided to property owners, developers, and applicants under the 2011 Tourism District Act.
• Engage AC GIS Platform CRDA's online GIS and demographic data platform providing public access to planning data, master plan content, and GIS maps specific to the Atlantic City Tourism District, for use by developers, researchers, stakeholders, and the public.
• Historic Boardwalk Hall and Atlantic City Convention Center Venue Operations Direct operation and event programming at Historic Boardwalk Hall (Jim Whelan Boardwalk Hall) and the Atlantic City Convention Center, hosting entertainment events, concerts, and conventions to attract visitors to Atlantic City. Boardwalk Hall events alone have generated $75 million in economic impact (per Pollstar).
• Procurement Portal (Bonfire) Online procurement portal for vendors to access CRDA's RFPs, bids, and contract awards, supporting vendor management for the authority's economic development, SID, venue, and infrastructure projects.
• Microloan Program Microloan program providing critical small-scale development financing for projects in Atlantic City, designed to support small developers and community-scale projects that complement CRDA's larger grant, loan, and bond offerings.

Quantifiable outcome

• $75 million in economic impact for Atlantic City generated by Jim Whelan Boardwalk Hall events (per Pollstar)
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Eleven partnerships are on record, tiered strategic, core and supporting.

• DCO EnergystrategicStrategic or Co-development Partner · 27 February 2025Energy efficiency partnership for transformative energy and workforce development project in Atlantic City
• State of New JerseycoreStrategic or Co-development PartnerParent government entity; CRDA operates under state legislation and Governor's oversight; board appointments made by Governor with Senate consent
• Atlantic County GovernmentcoreStrategic or Co-development PartnerRegional government partner for economic development coordination in Atlantic County
• City of Atlantic CitycoreStrategic or Co-development PartnerPrimary municipality; CRDA oversees Tourism District land use and has intergovernmental agreements for policing ($2M); Mayor serves on CRDA Board
• Visit Atlantic CitycoreStrategic or Co-development PartnerStrategic partnership producing measurable results with coordinated entertainment initiative generating significant economic impact; joint marketing and event programming
• Greater Atlantic City Chamber of CommercecoreStrategic or Co-development PartnerBusiness organization partner for economic development and business community engagement
• New Jersey Casino Control CommissioncoreStrategic or Co-development PartnerRegulatory body for casino industry; Chairman of Casino Control Commission serves on CRDA Board
• Division of Gaming Enforcement (DGE)coreStrategic or Co-development PartnerState gaming enforcement agency; collaborates with CRDA on casino-related regulatory matters
• New Jersey Department of Community Affairs (DCA)coreStrategic or Co-development PartnerState department; Commissioner serves on CRDA Board; CRDA operates under DCA oversight
• Casino Association of New JerseycoreStrategic or Co-development PartnerIndustry association representing Atlantic City casinos; casinos are required investors/contributors to CRDA programs
• Stockton University (LIGHT Institute)supportingStrategic or Co-development PartnerLloyd D. Levenson Institute of Gaming, Hospitality and Tourism provides Atlantic City research and analysis referenced by CRDA

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• New Jersey Economic Development Authority (NJEDA): NJEDA is New Jersey's state economic development financing authority, providing grants, loans, and tax incentives for in-state development—directly comparable to CRDA's role as a state-level economic development financier operating within the same state and political ecosystem.
• Las Vegas Convention and Visitors Authority (LVCVA): LVCVA operates the Las Vegas Convention Center and drives tourism marketing for a destination resort market funded by statutory room taxes—paralleling CRDA's convention center operations, tourism promotion role, and statutory funding model tied to a destination gaming/hospitality economy.
• New York Convention Center Operating Corporation (Javits Center): State-controlled operator of the Jacob K. Javits Convention Center in NYC—mirrors CRDA's public-authority convention center operations model in the same Northeast corridor.
• Massachusetts Convention Center Authority (MCCA): MCCA is a state authority operating the Boston Convention & Exhibition Center and John B. Hynes Veterans Memorial Convention Center—analogous to CRDA's direct operation of the Atlantic City Convention Center and Jim Whelan Boardwalk Hall as a public venue authority.
• Visit Atlantic City: CRDA's core strategic partner (Visit AC is the CVB for Atlantic City)—directly comparable as the destination marketing organization for the same market, with CRDA owning Boardwalk Hall/Convention Center that Visit AC markets against.
• Pennsylvania Convention Center Authority: State authority operating the Pennsylvania Convention Center in Philadelphia—a direct functional peer to CRDA's convention center operations within a competing Northeast regional gaming/hospitality market.
• Greater New Orleans Tourism and Marketing District: Tourism district authority that promotes and funds destination marketing through dedicated assessments on hospitality businesses—parallel to CRDA's Special Improvement District assessments and tourism district management in Atlantic City.
• Metropolitan Pier and Exposition Authority (MPEA): MPEA operates McCormick Place in Chicago under Illinois state authority—comparable to CRDA as a government authority running major convention/exposition infrastructure with tourism district-style powers.

Broad incumbents

• Maryland Center for History and Culture / Maryland Stadium Authority: Maryland Stadium Authority operates large public venues and infrastructure in a competing regional gaming market—comparable to CRDA's role as a public authority managing strategic tourism/gaming-adjacent assets and infrastructure in a nearby market.
• Nevada Governor's Office of Economic Development (GOED): State-level economic development agency for the largest U.S. gaming market—comparable to CRDA as a state-authority economic developer, though at a broader state scale rather than CRDA's city-district focus.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/njcrda
• Facebookfacebook.com/NJCRDA
• LinkedInlinkedin.com/company/casino-reinvestment-development-authority

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Casino Reinvestment Development Authority