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Industry
November 22, 2024
France Approves Tax Hikes, Gambling Affected
On November 21, the French Senate approved tax hikes across a variety of industries, including gambling. While the country was indecisive about a gambling tax hike earlier this year, it seems like it will be happening after all. The tax changes are a part of the final version of France’s social security budget and align […]
Sports
November 7, 2024
Gambling Tax Plans Lead to Cancellations of Horse Races in France
Late last month, politicians in France decided against the legalization of online gambling amid economic concerns. While iGaming is off the table, at least for now, the horse racing sector was alarmed by an amendment in the proposed 2025 budget that called for increases in gambling taxes. Gambling Tax Hike Results in Protests The budget […]
Industry
November 5, 2024
Kansas Bettors, Oblivious of Gambling Tax Regulations
The Internal Revenue Service (IRS) is having a hard time keeping tabs on gambling winnings, according to a recent study we reported on last month. The results of the study showed a large number of gamblers in the US failed to report their winnings, which caused the IRS to miss out on roughly $1.4 billion […]
Industry
November 5, 2024
$3.1M Tax Refund in Nevada Reveals Regulatory Loophole
In a settlement reached on Monday, the Nevada Gaming Commission agreed to refund Nevada Restaurant Services Inc. (NRSI), the operator of 41 casinos under brands such as Dotty’s and Bourbon Street Sports, a total of $3,120,197.28 in overpaid taxes. These overpayments resulted from an accounting error, over-inflating its tax payments. NRSI Uncovered Two More Years […]
Industry
November 4, 2024
Reeves Says No to Online Gambling Tax Hike, Sparks Criticism
Last month, we reported on the Labour Party’s plan to consider a £3 billion tax hike for gambling companies, mostly aimed at online casinos and sports betting activities. Chancellor Rachel Reeves and ministers were then pondering a rise in the online gambling taxes from 21% to 50% that would have boosted public finances by roughly […]
Industry
October 31, 2024
UK Gambling Operators Catch a Break as Government Delays Tax Hike
Gambling companies operating in the UK, like Flutter Entertainment and Entain, are breathing a sigh of relief today as the UK government’s newly released Autumn Budget leaves gambling tax rates untouched, staving off an anticipated hike that loomed over the industry. While the country’s gambling sector will likely see tax increases in the long term, […]
Industry
October 30, 2024
Labour Government Decides Against Raising the Gambling Tax
Two weeks ago, reports suggested that the new Labour government might be considering a tax hike for the gambling sector. These rumors sent shockwaves across the industry, causing operators’ stock to slump. However, gaming companies can rest easy now as no tax hike is on the horizon. No Tax Hike for the Gambling Sector The […]
Industry
October 30, 2024
Holland Casino and Unions Unite Against Gambling Tax Hike
Holland Casino, the Netherlands’ state-owned gambling operator, has joined forces with some of the country’s most influential labor unions to fight against an impending gambling tax increase. They warn that the government’s measure will severely impact the company’s bottom line and potentially leave thousands of people unemployed. The Tax Increase Could Hurt the Regulated Sector […]
Industry
October 16, 2024
Brazil’s President to Discuss Credit and Billionaire Taxation with Bankers
At the start of the month, we reported on Brazil’s sports betting industry facing a potential ban unless proper regulations addressing the potential harms of gambling were not addressed, as warned by President Luiz Inacio Lula da Silva. The country that made betting on sports legal in 2018 never reached the point of also officially […]
Industry
October 16, 2024
Flutter CEO Advises Moderation in Taxation as Tax Hikes Continue
Peter Jackson, Flutter Entertainment’s chief executive officer, believes that the ideal online sports betting tax rate would be 18%. In an interview with The Financial Times, he shared his tax-related opinions about the US wagering sector. Flutter’s CEO Promotes a Golden Middle Jackson’s proposed tax rate is noticeably higher than the tax rate of certain […]
