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We also report on the AAA gaming studios, which are increasingly a target for acquisitive giants like Microsoft and Sony. “Whether or not they can change language this late in the game is very tough,” said Rooney, about efforts to strip the latest gambling tax language from the current iteration of the bill. Through July, year-to-date commercial sports betting revenue reached $5.46 billion, exceeding the same period in the previous year by more than 63%. A Nevada lawmaker and Las Vegas casino owner oppose changes to gambling tax code in federal budget bill.

The card rooms spent at least $900,000 in that race that paid for ads and mailers opposing Newman and supporting his Republican opponent, Steven Choi, according to the card rooms and campaign finance reports. Outgoing Democratic Assemblymember Evan Low of Cupertino faced similar attacks in his failed congressional bid. Low sat on the same Assembly committee as Davies and voted this summer for the gambling bill. Facing what they saw as an existential threat, card rooms responded to the bill’s introduction last year with a massive lobbying blitz. Hawaiian Gardens Casino alone spent $9.1 million on lobbying, the second highest amount reported to state regulators last year.

It’s akin to losing money on a wager, and then still having to fork over money to further “settle up.” For bettors who wager at volume, the tax hit could quickly become astronomical. The stakes are high since some cities receive nearly half of their budgets from taxes on card rooms, meaning a tribal victory in court could jeopardize money for police, firefighters and other local services. The card rooms insist their games are legal, but they also worry the cost of court fights could force them out of business.

Doctors in Australia are concerned about promoting pokies on social media

“Final passage is uncertain,” he added, of the entire budgetary package. “People ask, why are they moving this gambling tax from 100% to 90%, it’s because of revenue, and just trying to find money wherever they can,” said Rooney. The version of President Donald Trump’s “Big Beautiful Bill” passed by the Senate earlier this week contains a tax provision that could prove prohibitive to gamblers, with ramifications for horse racing’s bottom line.

• And in May this year, Microsoft cut an eye-watering 6,000 staff, or 3% of its entire workforce.
• The tribes, which will be able to sue beginning Jan. 1, say California voters gave them exclusive rights to host those games, but they’ve been unable to sue the state’s 80 or so card rooms because tribes are sovereign governments.
• We also report on the AAA gaming studios, which are increasingly a target for acquisitive giants like Microsoft and Sony.

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They seldom skip any news on the day it happened, so I hardly have to look elsewhere. Would love to see more in-depth original reporting but definitely great place to get your info for the industry on the daily. I love that there are sites that bother to list all regulated gambling brands in my state. GamblingNews have a good scoop of news and pages to read, and I have found tons of helpful info to help me decide about my gambling. Scattered thunderstorms were anticipated at any point during today’s Mariners vs. Yankees game though these chances are 30 to 50 percent each hour and it is indeed possible weather will not impact this game.

Every bet is recorded, and taxing authorities have the potential to use that record to help enforce the gambling tax laws. In fact, for big winners, gambling operators will now issue a W-2G, which reports taxable income from gambling, to both the taxpayer and the IRS, thereby limiting the ability for taxpayers to evade taxes on this income. WASHINGTON – The massive tax and spending bill that President Donald Trump signed into law last week contains a provision limiting tax deductions for gambling losses that has professional bettors howling about being driven out of business.

Mr Hughes said if Star was forced to sell the rights to operate a casino, buyers were circling. As part of the agreement, Star would keep the rights to operate the casino. In March, desperate for money to stave off insolvency, Star agreed to sell its 50 per cent stake best casino sites online bonuses in Queen’s Wharf to its joint venture partners Chow Tai Fook Enterprises and Far East Consortium for $53 million.