Taxes

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

Vanja Mitic
Latest Casino and Gambling News, Gaming Law & Legislation, North America Casino News, Online gambling regulation, Gaming Industry News, Mobile gaming, Economy/Finance, Sports betting, Online Gambling News, Taxation, 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, Mobile gaming, Economy/Finance, 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, Sports betting, Taxation, 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, Online gambling regulation, Brazil, World Casino News, Gaming Industry News, Central & South America Gaming, 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...

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

Johnny K.
Gaming Law & Legislation, Latest Casino and Gambling News, World Casino News, Online gambling regulation, Brazil, Central & South America Gaming, Gaming Industry News, Economy/Finance, Mobile gaming, Licenses, Taxation, Online Gambling News, Sports betting, Licensing, Taxes
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

Johnny K.
Latest Casino and Gambling News, Poker Law, U.S.A., Casino proposals, Casino News, Gaming Law & Legislation, World Casino News, North America Casino News, Online gambling regulation, Gaming Industry News, Online Poker, Poker, Licensed online casinos in USA, Licenses, Taxation, Online Gambling News, Licensing, Taxes, New York
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

Marija Malenovic
Las Vegas, Casino News, Latest Casino and Gambling News, Gaming Industry News, Mobile gaming, Economy/Finance, Online Gambling News, Sports betting, Taxation, Taxes, Financial Press Releases, Nevada
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

Radosav Milutinovic
Tribal Gaming, Casino News, Latest Casino and Gambling News, Gaming Law & Legislation, U.S.A., North America Casino News, Casino project updates, Gaming Industry News, Economy/Finance, Licensed online casinos in USA, Online Gambling News, Taxes, Financial Press Releases, Michigan
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

Marija Malenovic
Casino Sales, Casino News, Latest Casino and Gambling News, U.S.A., New Hotels, World Casino News, North America Casino News, Casino project updates, Gaming Industry News, Economy/Finance, Taxation, Illinois, Taxes, Financial Press Releases, Rhode Island
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

Marija Malenovic
U.S.A., Latest Casino and Gambling News, Gaming Law & Legislation, World Casino News, North America Casino News, Brazil, Online gambling regulation, Gaming Industry News, Central & South America Gaming, Economy/Finance, Online Gambling News, Sports betting, Taxation, Taxes
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...

Detroit’s 3 Casinos Reach Highest Monthly Gross Income for March 2024 since 2019

Marija Malenovic
Casino News, Latest Casino and Gambling News, U.S.A., World Casino News, North America Casino News, Gaming Industry News, Economy/Finance, Sports betting, Taxation, Taxes, Financial Press Releases, Michigan
MGM Grand Detroit, Hollywood Casino at Greektown and MotorCity Casino, aka Detroit’s 3 licensed casinos, announced that they managed to collect $123.86m in monthly gross income for the previous month, i.e. Marc...

Singapore Excludes Criminal Legal Aid Recipients from Setting Foot in Casinos

Marija Malenovic
Latest Casino and Gambling News, Casino News, Gaming Law & Legislation, World Casino News, Online gambling regulation, Gaming Industry News, Economy/Finance, Mobile gaming, Asian Casino News, Taxation, Online Gambling News, Crime, Taxes, Fines, Lawsuits & Litigation, Singapore
Accused persons currently getting criminal legal assistance aren't permitted to set foot in Singapore’s jackpot rooms or casinos, nor to gain access to their Singapore Pools wagering accounts as long as they ha...

Genting Might Increase New York’s Tax Revenue by 1$ Billion if Awarded New License

Vanja Mitic
Casino News, Latest Casino and Gambling News, Gaming Law & Legislation, Casino Destinations, Casino proposals, Gaming Industry News, Economy/Finance, Licenses, Taxation, Licensing, Taxes, New York
Since the opening of Genting Malaysia Bhd’s Resorts World casino in New York City, the place has become very popular among the residents and tourists, and the popularity will be further increased by expanding t...

Georgia Fails Again to Legalize Sports Wagering due to Disagreements Between Lawmakers Over Tax Money

Marija Malenovic
Latest Casino and Gambling News, Gaming Law & Legislation, World Casino News, Gaming Industry News, Economy/Finance, European Casino News, Sports betting, Taxation, Georgia-Eurasia, Taxes
An attempt to officially approve sports wagering in Georgia failed again this year. The reason for this is that lawmakers couldn't reach compromise on how to spend the collected tax money. Both bills couldn'...

New Jersey Bill Proposes Tax Increase on Online Sports Betting and Casino Gaming to 30%

Marija Malenovic
U.S.A., Latest Casino and Gambling News, Gaming Law & Legislation, World Casino News, North America Casino News, Online gambling regulation, Gaming Industry News, Economy/Finance, Online Gambling News, Sports betting, Taxation, Taxes, New Jersey
New Jersey is contemplating raising the state's online casino gaming and sports wagering tax rate to a maximum of 30%. Additionally, Senator John McKeon is cited as the lead sponsor of the tax rate hike legisla...