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Industry
September 10, 2024
India Holds Firm on 28% GST for Online Gaming despite Industry Pushback
According to the latest data by the Indian government, revenue from online gaming has reached ₹6,909 crore ($832 million) in just six months, rising by 412% despite the recent Goods and Services Tax (GST) hike to 28%. Finance Minister Nirmala Sitharaman confirmed these figures during the 54th meeting of the GST Council on 9 September […]
Industry
August 27, 2024
Pennsylvania Surpasses New York and Nevada in Casino Tax Revenue
According to the American Gaming Association (AGA)’s annual report for 2023, Pennsylvania has claimed the crown for gaming-specific tax revenues, surpassing every other US state. The Keystone State’s gambling sector is showing no signs of slowing down, as July’s results highlighted a robust and diverse industry that can deliver sustained growth despite emerging challenges. Pennsylvania […]
Industry
August 7, 2024
RMG Changes Would Provide Relief to Indian Gaming Businesses
India might allow 100% Foreign Direct Investment (FDI) for real-money gaming companies, without official approval, reports say. According to Mint, the government has proposed to allow companies to access full FDI via an automatic online RMG route. If enacted, this measure would allow monetary amounts up to the value of the entire business to be […]
Legal
August 2, 2024
Senators Want to Eradicate the Federal Excise Tax via Bipartisan Bill
Senator Cindy Hyde-Smith (D-Nev.) and Senator Catherine Cortez Masto (R-Miss.) want their bipartisan bill called the Withdrawing Arduous Gaming Excise Rates (WAGER) Act to eliminate the federal excise tax that is currently applied to gambling operators’ handle. The tax relief would provide enhanced protection to legal sportsbook operators and gaming businesses, help Nevada and Tribal […]
Industry
August 2, 2024
Surcharge to Affect DraftKings Winning Clients in Four States
Several US states announced plans to increase sports betting taxes this year. This resulted in concerns from betting operators who are offering their services in a highly competitive market. Despite the competition, DraftKings and FanDuel so far retain dominance across the country, holding a significant part of the market share. Still, the high tax rates […]
Legal
July 31, 2024
Pennsylvania Casinos Urge for Equal Taxation on Skill Games
A dozen casinos in Pennsylvania turned to the highest court in the state with a request to either impose the same tax rate that applies to slot games for skill games or declare the tax unconstitutional. Currently, land-based operators across Pennsylvania pay a tax rate on their slot machine revenue between 48% and 54%. However, […]
Industry
July 2, 2024
Sweden Implements Gambling Tax Hike to the Industry’s Dismay
On July 1, Sweden has officially increased its gambling tax in spite of the industry’s claims that such a measure would be counterproductive. Originally introduced in 2019, the 18% tax on gambling profits has been replaced with a 22% tax, in line with Sweden’s ongoing reforms. As mentioned, the gambling industry isn’t thrilled about the […]
Industry
July 1, 2024
New Jersey’s Online Gambling Taxes Will Not Increase, for Now
New Jersey’s online gambling operators can rest easy for a while as lawmakers don’t envision a tax increase for 2025. However, the discussions will likely continue into the following year. S3064, a measure sponsored by Senator John McKeon, sought to increase New Jersey’s online gambling taxes. If passed, the bill would have increased the online […]
Industry
June 14, 2024
NSW Government Considers Increasing the Betting Tax
The government of New South Wales is considering a tax increase of 5%, according to The Sydney Morning Herald. Under this proposal, filed by industry powerhouse Tabcorp, the tax on all bets would be increased from 15% to 20%. This would align NSW’s point of consumption tax (POCT) with that of Queensland. Analysts believe that […]
Industry
June 14, 2024
Concerns over Harm and Lost Tax Revenue Mount in Missouri
Currently, Missouri offers limited gambling activities. iGaming and sports betting are illegal, while visitors and residents can only gamble legally via the 13 casinos across the state. Yet, a type of gambling device called “no-chance,” or “pre-reveal” machine is widely spread in Missouri and they so far operate in a grey area. The machines can […]
