Gambling in the USA
AGA Commends Bipartisan Legislation to Raise Slot Tax Threshold
The American Gaming Association (AGA) voiced its support for bipartisan legislation introduced today by Congressional Gaming Caucus Co-Chairs Reps. Dina Titus (D-NV) and Guy Reschenthaler (R-PA) to raise the antiquated slot tax threshold to $5,000 and provide a mechanism for future increases based on inflation.
The current $1,200 slot tax threshold has not been adjusted for inflation since 1977, causing a dramatic increase in the number of slot jackpots casinos and their customers must report to the Internal Revenue Service (IRS).
“Increasing the slot tax threshold to account for inflation is a long overdue change that will alleviate unnecessary administrative burdens on casino operators, their customers and an understaffed and overwhelmed IRS,” said AGA President and CEO Bill Miller.
This legislation builds on efforts by the AGA and Congressional Gaming Caucus that led to Congress directing the U.S. Department of the Treasury (Treasury) to investigate the possibility of updating the slot tax threshold through regulation. Treasury has not yet submitted that report to Congress.
“Today’s legislation provides Congress a direct path to modernize the slot reporting threshold,” continued Miller. “We look forward to continuing to work with these bipartisan leaders on Capitol Hill to address outdated regulations that impact our industry.”
The legislation is cosponsored by Reps. Mark Amodei (R-NV), Anthony Brown (D-MD) and Steven Horsford (D-NV).
Background
- According to federal regulation, when a casino patron wins a slot machine jackpot of $1,200 or more, the machine is temporarily taken out of service while the patron is required to complete a W-2G tax reporting form.
- While slot jackpots have steadily increased with inflation over the past several decades, the $1,200 threshold that triggers the issuance of tax forms has remained static since Congress established it in 1977. When adjusted for inflation, a $1,200 jackpot in 1977 would be equivalent to more than $5,000 today.
- Because the threshold hasn’t tracked with inflation, there has been a significant increase in the number of reportable jackpots, causing more operational inefficiencies for casino operators and adding to the sea of W-2G forms flooding the IRS each year.
Gambling in the USA
Games Global Launches Custom Slot Game Caesars Palace Frenzy with Caesars Digital
Launch marks the first bespoke game launch in the partnership between gaming operator and premier gaming provider
Games Global today announced the exclusive launch of Caesars Palace Frenzy, a Caesars-branded slot title that marks the first bespoke game launch on behalf of Games Global’s partnership with premier gaming operator Caesars Digital. Caesars Palace Frenzy is now exclusively live on Caesars Palace Online Casino in New Jersey with plans to expand to Michigan and Pennsylvania, offering players another highly engaging, operator-specific gaming experience with iconic Caesars Palace branding.
Caesars Palace Frenzy combines the excitement of the Las Vegas Strip’s iconic casino with innovative gaming dynamics crafted by Games Global. Designed exclusively for Caesars Digital online casino players, this game delivers an online slot experience with engaging gameplay, sophisticated graphics and dynamic features like scatter pays, multiplied free spins selected by a concentric wheel and a seven-tier jackpot line-up.
This launch demonstrates Games Global’s continued emphasis on partnering with top iGaming operators to deliver exclusive and custom gaming products to players.
“Working closely with Caesars Digital to create Caesars Palace Frenzy has been an exciting journey,” the Chief Executive Officer for Games Global, Walter Bugno, said. “This game is more than just an online slot experience, it is an adventure that mirrors the thrill and grandeur of one of the world’s most iconic destinations. We’re thrilled to see it come to life and deliver a unique blend of entertainment and gaming.”
“We’re committed to collaborating with top gaming providers to launch custom online casino experiences for our players that can’t be found anywhere else,” the Senior Vice-President and Chief iGaming Officer for Caesars Digital, Matt Sunderland, said. “Caesars Palace Frenzy delivers on that commitment by providing an elevated gaming experience that we’re certain our players will enjoy.”
The Alabama-Coushatta Tribe of Texas has announced the plans to build a brand-new casino resort on its Tribal lands in Polk County.
“We are incredibly excited to embark on this new chapter. This new casino resort will not only provide significant economic benefits for those living and working in the region, but it will also become a vibrant destination for visitors,” Ricky Sylestine, Chairman of the Tribal Council, said.
While specific details are still being finalized, the new resort may offer a variety of amenities including a state-of-the-art casino floor, hotel accommodations, and diverse dining and entertainment options.
The Tribe has engaged the architectural firm FFKR to design the new resort. FFKR is known for its innovative and creative designs. The Tribe is confident the firm will create a truly exceptional destination.
In addition to the new casino resort, the Tribe is planning an extensive remodel to its existing Ischoopa/One Stop Convenience Store and Truck Stop. The remodel will include adding electronic bingo machines.
The Alabama-Coushatta Tribe of Texas will be releasing news related to the new resort and any additional developments in the coming months.
BetConstruct, a leading company in iGaming technology and services, is heading to Sigma Americas in Sao Paulo, Brazil from April 23-25, 2024.
Sigma Americas is a major event focusing on iGaming with 10,000 delegations and more than 200 professional speakers. This event serves as an exceptional platform for participants to present their innovative offerings, engage with fellow industry leaders, and establish new business relationships.
BetConstruct is poised to introduce its cutting-edge products and solutions to the growing Brazilian market at the upcoming event. As a premier provider of online iGaming solutions, the company will showcase its comprehensive range of services to all attendees, offering diverse solutions tailored to meet their specific needs and preferences.
Moreover, BetConstruct will demonstrate its newest Spettacolare offer by Mr. First, which is a fleeting opportunity to maximise user profits and explore the potential of FTN.
Attendees of the event can find BetConstruct in the Transamerica Expo Center at Stand O60, where they will have the opportunity to gain a comprehensive understanding of BetConstruct’s products and solutions.
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