Nevada gaming taxes could go up

Nevada gaming taxes could go up

A new political action committee is calling for a new tier to gaming taxes in Nevada, moving them out of the “lowest in the US” spot.

US.- Big players in the gaming market are under fire in the US. A new group is pushing for Nevada gaming taxes to go up, in an initiative that targets the largest companies.

Nevadans for Fair Gaming Taxes, a new political action committee, is pushing for a new tier to taxes. They want a fourth one at 6.75% on monthly GGR of more than US$250k.

Nevada gaming taxes have currently a top of  6.75% on all monthly GGR of more than US$134k. That’s its highest tier and has the state as the lowest taxing in the country.

Smaller establishments pay 3.5% on GGR of up to US$50k and 4.5% on that between US$50-US$134k. That wouldn’t change, should the Nevadans for Fair Gaming Taxes proposal succeed.

Nevada’s figures

As the segment continues to evolve, it manages to thrive nationwide. That’s why Nevada posted record sports betting handle at US$614.1 million last November.

According to state figures, the amount came in as casinos took in US$937.5 million in total revenue.

Moreover, gambling establishments reached a US$31 million revenue, up 14.3% year-on-year. The best performing sport was American football, as it brought US$22.5 million on stakes of US$384.6 million. The second place saw Basketball taking in US$8.1 million from US$399.3 million worth of wagers.

According to state figures, Nevada sports betting had players betting US$11.2m on sports parlay cards. Operators took in US$2.4 million, while casinos made US$4.2 million on US$53.2 million from the rest of the sports.