Taxes

Illinois Sportsbooks Generate $92M in April, Poised to Overtake New Jersey in National Rankings

Illinois sportsbooks amassed nearly $92 million in adjusted gross sports betting revenue for April 2024, according to data released by the Illinois Gaming Board on Thursday. This month saw the state's betting h...

MGCB: Detroit Casino Revenue for May $111.3 Million; Up 6.3% YOY

The Michigan Gaming Control Board has announced that Detroit's three casinos collectively generated $111.3 million in adjusted gross revenue (AGR) for May, reflecting a significant rise from the previous year's...

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

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...

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

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

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

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

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

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

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...

Brazil Introduces 15% Tax on Player Prizes in Betting and Online Gambling

Brazil has solidified its tax framework concerning player prizes and winnings within its burgeoning betting market. The Federal Revenue Service (RFB) of Brazil has officially outlined its stance on personal inc...

New York Senator Pursues Incremental Online Gaming Strategy with Poker-Only Legislation

In the realm of online gaming legislation, New York Senator Joseph Addabbo is recalibrating his approach. Faced with the challenge of garnering support for a comprehensive bill encompassing iGaming, online poke...

Nevada Gaming Income Down in March; First Drop in 8 Months

According to profit data released by the Nevada Gaming Control Board (NGCB) on April 25, gaming earnings collected by the state has seen a drop over the past month. In addition, the drop occurred for the 1st ti...

Michigan Tribal Casino Payments Decreased for Second Consecutive Year

The Michigan Gaming Control Board has released the data on payments made by the state's tribal casinos to local entities in 2023. As reported, gaming payments made by 23 tribal casinos in the state have decline...

Bally’s Chicago Reports 12.7% Revenue Growth in March 2024 as Bally’s Corp. Mulls Takeover Bid

Following a takeover bid by its biggest shareholder, an $800m financing gap for the construction of a planned Chicago casino, a project worth $1.7bln, and a credit downgrade by the rating agencies, business flo...

Brazil Seen as Future of Sports Betting; Could Replace US as Next Main Market for Sports Betting Gold Rush

The official legalization of sports wagering in Brazil occurred at the end of previous year, and the beginning of betting is projected to start during the next or this quarter, while watchdogs work through thei...