Taxation

DraftKings Backs Missouri Sports Betting Initiative with $3.5 Million Donation

Johnny K.
Gaming Law & Legislation, Latest Casino and Gambling News, Online gambling regulation, World Casino News, North America Casino News, Gaming Industry News, Licenses, Sports betting, Online Gambling News, Taxation, Missouri
In a significant move to sway Missouri voters towards legalizing sports betting, the campaign has received a substantial financial boost. DraftKings' parent company, DK Crown Holdings, has contributed $3.5 mill...

DraftKings Implements Surcharge in Response to High State Taxes

Johnny K.
Vermont, Latest Casino and Gambling News, U.S.A., World Casino News, North America Casino News, Gaming Industry News, Economy/Finance, Sports betting, Online Gambling News, Taxation, Illinois, Taxes, New York, Pennsylvania
In a bold move reflective of the changing fiscal landscape in the United States, DraftKings Inc. has announced plans to implement a surcharge for customers in states with high gambling taxes. This decision come...

US Senators Introduce WAGER Act to Eliminate Sports Betting Excise Taxes

Vanja Mitic
Gaming Law & Legislation, U.S.A., Latest Casino and Gambling News, Online gambling regulation, World Casino News, North America Casino News, Gaming Industry News, Mobile gaming, Economy/Finance, Licensed online casinos in USA, Online Gambling News, Sports betting, Taxation, Taxes
U.S. Senators Catherine Cortez Masto (D-Nev.) and Cindy Hyde-Smith (R-Miss.) have recently introduced the Withdrawing Arduous Gaming Excise Rates (WAGER) Act, a pivotal piece of bipartisan legislation designed ...

US Tax Authority Announces Northern Marianas Gaming Regulator Owes $5.8M in Taxes

Johnny K.
Latest Casino and Gambling News, World Casino News, Gaming Industry News, Economy/Finance, Taxation, Asian Casino News, Bankruptcy, Fines, Lawsuits & Litigation, Northern Mariana Islands
The US Internal Revenue Service (IRS) has filed a federal tax lien against the Commonwealth Casino Commission (CCC) of the Northern Mariana Islands, claiming over $5.8 million in unpaid taxes dating back to 202...

NSW Government Contemplates Raising Betting Tax to 20% Prompted by Tabcorp Proposal, Impacting Major Bookmakers

Vanja Mitic
Australia, Latest Casino and Gambling News, Gaming Law & Legislation, Online gambling regulation, World Casino News, Gaming Industry News, Economy/Finance, Online Gambling News, Taxation, Oceania Casino News, Taxes
The New South Wales (NSW) government is deliberating on the possibility of raising the tax on all bets made within the state from 15 to 20 percent, prompted by a proposal from industry leader Tabcorp. If implem...

Pagcor Chairman Unveils Plans to Reduce E-Games Tariffs, Boosting Philippines’ Gaming Investment Appeal

Vanja Mitic
Gaming Law & Legislation, Latest Casino and Gambling News, World Casino News, Online gambling regulation, Gaming Industry News, Casinos of the Philippines, Mobile gaming, Economy/Finance, Taxation, Asian Casino News, Online Gambling News, Taxes, Philippines
In a move aimed at fostering industry growth and attracting more investment, Alejandro Tengco, chairman and CEO of the Philippine Amusement and Gaming Corp (Pagcor), revealed plans to reduce once again the rate...

FanDuel and DraftKings Grapple with Illinois Sports Wagering Tax Hike as Governor Pritzker Defends Revenue Boost

Vanja Mitic
Gaming Law & Legislation, Latest Casino and Gambling News, Online gambling regulation, World Casino News, North America Casino News, Gaming Industry News, Economy/Finance, Licensed online casinos in USA, Online Gambling News, Sports betting, Taxation, Illinois
Illinois' online sports betting landscape faces upheaval as major players like FanDuel and DraftKings confront the repercussions of a significant tax increase. Governor J.B. Pritzker defends the move, asserting...

DraftKings and Flutter Stocks Dip After Illinois Budget Agreement Introduces Tax Hike on Sports Betting

Johnny K.
Latest Casino and Gambling News, Gaming Law & Legislation, U.S.A., World Casino News, North America Casino News, Gaming Industry News, Economy/Finance, Mobile gaming, Online Gambling News, Sports betting, Taxation, Illinois, Taxes
Shares of major sports betting companies, including DraftKings and Flutter, experienced significant declines following the approval of a substantial tax increase on sports bets in Illinois. The state's fiscal 2...

Illinois Senate Adopts Progressive Tax Plan for Sports Betting, Offers Relief for Operators; House Vote Next

Johnny K.
Latest Casino and Gambling News, Gaming Law & Legislation, World Casino News, North America Casino News, Gaming Industry News, Economy/Finance, Mobile gaming, Horse Racing, Sports betting, Online Gambling News, Taxation, Illinois, Taxes
In a significant legislative move, the Illinois Senate passed a bill late Sunday night that aims to transform the state's sports betting tax structure into a progressive system based on operator revenue. The ch...

Pennsylvania’s Online Sports Betting Tax: Navigating Legislative Shifts and Industry Dynamics

Vanja Mitic
Gaming Law & Legislation, Latest Casino and Gambling News, North America Casino News, Online gambling regulation, Gaming Industry News, Economy/Finance, Mobile gaming, Taxation, Sports betting, Online Gambling News, Taxes, Pennsylvania
Pennsylvania stands at a critical juncture in its online sports wagering industry, grappling with the implications of potential tax hikes amid a rapidly evolving regulatory landscape. As neighboring states impl...

Paf Celebrates Record €177.1 Million Revenue, Warns of Impact from Rising Gaming Taxes

Johnny K.
Sweden, Latvia, Latest Casino and Gambling News, Gaming Industry News, Economy/Finance, Mobile gaming, Estonia, Finland, Online Gambling News, Taxation, Taxes, Financial Press Releases
Paf has achieved a record revenue of €177.1m (£150.8m/$191.4m) in its 2023 financial year, marking a 6.9% increase from the previous year. The Nordic gaming operator also posted a notable 23% rise in net profit...

CFG Challenges Sports Betting Alliance’s Opposition to Illinois Sports Betting Tax Hike, Urges Evidence-Based Policy Decisions

Vanja Mitic
Latest Casino and Gambling News, Gaming Law & Legislation, Online gambling regulation, Gaming Industry News, Economy/Finance, Licensed online casinos in USA, Online Gambling News, Taxation, Sports betting, Illinois, Taxes
As gambling initiatives unfold across the U.S., the Campaign for Fairer Gambling (CFG) closely scrutinizes developments, particularly in Illinois. Governor J.B. Pritzker's proposal to raise the tax on legal spo...

Brazil Mandates Gaming Licenses by End of 2024; Non-compliant Operators Face Regulatory Action

Johnny K.
Gaming Law & Legislation, Casino News, Latest Casino and Gambling News, Brazil, World Casino News, Online gambling regulation, Central & South America Gaming, Gaming Industry News, Licenses, Online Gambling News, Taxation, Licensing, Taxes
The Brazilian government has established a December 2024 deadline for gaming operators to secure licenses or face penalties starting January 1, 2025. This requirement is detailed in Normative Ordinance 827, pub...

New Coalition Agreement Increases Gaming Tax in the Netherlands to 37.8%

Johnny K.
Casino News, Latest Casino and Gambling News, Gaming Law & Legislation, World Casino News, Gaming Industry News, Economy/Finance, European Casino News, Taxation, Online Gambling News, Netherlands
A significant change in the gaming tax rate is set to take place in the Netherlands as outlined in the recently published coalition agreement between the PVV, VVD, NSC, and BBB factions. The budgetary annex, re...