Gambling in the USA

New Independent VIXIO GamblingCompliance Report Commissioned by Light & Wonder Estimates States Could Generate $6.35B in Annual Tax Revenue from Legal US iGaming

Published

2 years ago

August 4, 2022

Light & Wonder Inc. announced the release of an independent report, “U.S. iGaming State Tax Revenue Potential,” which was created by VIXIO GamblingCompliance at the Company’s request. The independent, first-of-its-kind report forecasts state-by-state projections of potential iGaming tax revenue in the United States. According to the report, states are projected to realize $6.35 billion in annual tax revenue from the adoption of iGaming. These forecasts were developed by VIXIO independent of the Company.

VIXIO’s report provides forecasts for the potential tax revenue that state governments could conservatively expect to earn if internet gaming, or iGaming, were legalized in each state that currently has either legal land-based casino gaming or online sports betting, or both. iGaming includes the operation of casino-style games such as slots and table games, offered via digital platforms through players’ own devices. While sports betting involves betting on real-world sporting events either in retail locations or through mobile devices, iGaming is completely an online platform.

“VIXIO’s report demonstrates that states are leaving billions of dollars in tax revenue on the table which could fund a variety of public programs and services without resorting to broad based taxes. The dozens of states that already have land-based casino gaming merely have to turn on the digital channel to realize tax revenues which are otherwise being siphoned off by the prevalence of illegal off-shore internet gaming,” Howard Glaser, Global Head of Government Affairs of Light & Wonder, said.

As detailed in the report, if iGaming is legalized in all 42 states that currently allow land-based casinos or mobile sports betting, the potential size of the U.S. iGaming market alone could total over $30 billion. VIXIO estimates this could translate to a combined $6.35 billion in annual state tax revenue, assuming a 20% tax rate in newly authorized states. According to the American Gaming Association (AGA), the six states in which iGaming is currently legal generated $970 million in gaming tax revenue in 2021, compared with $560 million generated in the 30 states with sports betting. The states in which iGaming is currently authorized are Connecticut, Delaware, Michigan, New Jersey, Pennsylvania, and West Virginia.

“New York is surrounded by iGaming states, namely New Jersey, Pennsylvania and Connecticut, which are witnessing hundreds of millions in annual revenue from iGaming. Those states have proven the model works and that iGaming can complement land-based casinos and ensure protections for players. When implemented safely and credibly, New York will also witness significant increases in revenue and educational funds from iGaming, while improving programs addressing gambling addiction. It makes no sense for New York to lose that revenue to neighboring states and the illegal offshore market,” New York Senator Joseph Addabbo, Chair of the NY State Senate Racing, Gaming and Wagering Committee, said.

“Indiana prides itself on taking a thoughtful, measured approach to gaming policy. With that in mind, we certainly recognize that iGaming, when structured properly, has the potential to attract a broader demographic, and to become a meaningful source of state tax revenue,” Indiana Senator Jon Ford, recently installed President of the National Council of Legislators from Gaming States (NCLGS), said.

Related Topics:Howard Glaser Jon Ford Joseph Addabbo Light & Wonder Inc.VIXIO GamblingCompliance

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Gambling in the USA

Games Global Launches Custom Slot Game Caesars Palace Frenzy with Caesars Digital

Published

4 days ago

April 22, 2024

Alan Campbell

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.”

Gambling in the USA

Alabama-Coushatta Tribe of Texas Announces Plans to Build New Casino Resort

Published

4 days ago

April 22, 2024

Niji Narayan

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.

Gambling in the USA

BetConstruct to Display Its Products and Services at Sigma Americas

Published

1 week ago

April 18, 2024

Peter Tolan

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.