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Comprehension checkThe US May Receive $6.35 Billion in Taxes from the Gambling Industry
Light & Wonder commissioned Vixio’s independent gambling and compliance report. It showed that the US would be able to receive $6.35 billion annually in taxes from legal gambling.
Light & Wonder (formerly Scientific Games) took into account the possibility of gambling legalization in its forecast for such a significant income for the country. Howard Glaser, Global Head of Government Affairs, noted that, according to the report, the States could receive billions of dollars and use them to fund government programs and services without massive taxation.
He also mentioned that dozens of states where land-based casinos operated legally should simply turn on the digital channel to receive additional tax revenues, which, so far, did not replenish the treasury due to the popularity of offshore sites that were illegal in the country.
According to the report, the gambling market in the country will be over $30 billion if online gambling is legalized in all 42 states where mobile betting and land-based casinos are allowed.
It is worth noting that the state of New York alone, where iGaming is still not legalized, loses millions of dollars every year. According to the report, the potential amount could be over $420,000,000.
Let us recall that Caesars Palace Las Vegas turns 56 and is to hold the Empire Days promotion.
