Industry News of the Day for December 13, 2022

By iDEA | December 13, 2022

Industry News

  • PlayUSA: New IRS Rule Could Affect Gamblers’ Income Tax Filings
    • If in the past, you’ve thought you could successfully hide your gambling winnings from the Internal Revenue Service using third-party payment platforms, your delusions should be further dispelled. New IRS rules make attempting that an even riskier prospect.

Illinois

  • Chicago Sun Times: Chicago Plan Commission Endorses Bally’s Casino Plan
    • The city’s planning agency Monday approved zoning for the proposed Bally’s casino at Chicago Avenue and Halsted Street, a step in the $1.7 billion project’s journey through government approvals. The approval came despite a last-minute objection from a key alderperson.

Indiana

  • PlayIndiana: Indiana Lawmakers Finish Draft Of New Internet Casino Bill
    • Indiana lawmakers have finished putting together the state’s new online casino bill. With the major details worked out, Hoosiers can start to get an early picture of what Indiana’s gambling industry could look like at this time next year. The Indiana online casino bill will start to make its way through the statehouse in early January.

Maryland

New York

  • PlayNY: New York Online Casino Bill Coming For 2023, But Will It Actually Pass?
    • Sen. Joe Addabbo will reintroduce a New York online casino bill during the state’s 2023 legislative session. During a Sunday panel discussion at the National Council of Legislators from Gaming States (NCLGS) conference in Las Vegas, advocates said NY iGaming could be worth an estimated $428 million in tax revenue — off $2.1 billion in total gross gaming revenue — with a 20% tax rate.
  • Sports Handle: New York (Again) Sets Monthly Sports Wagering Revenue Record
    • The New York State Gaming Commission reported $149.2 million in overall sports wagering revenue for November, the third consecutive month the Empire State has set an all-time record in monthly operator revenue. The mobile revenue of $148.2 million among the state’s nine operators was enough to top October’s short-lived standard of $146.8 million, but the state’s four retail books kicked in another $1 million to put more distance between the two totals.

New Jersey

  • PlayNJ: Resorts CEO Says: ‘Atlantic City’s Best Years Ahead Of Us’
    • The future of the Atlantic City casino industry will depend on new technology, diversity and inclusion and whether the city, state and county can learn to work together, said a panel of industry experts at the Stockton University Atlantic City Campus. The panel discussion held Thursday afternoon was a conversation about the process and impact of legalizing casino gaming titled “Celebrating 45 Years: Legalized Casino Gaming in New Jersey.”

Ohio

  • Legal Sports Report: Regulator: Focus On Ohio Sports Betting Launch ‘And Nothing Else’
    • State regulators believe Casino Control Commission executive director Matt Schuler’s harsh criticism of Ohio sports betting applicants had a positive impact. “I do think that the executive director being able to let the industry know that they were falling short of expectations really did improve some of the responsiveness that we really needed from all of the industry in order to meet these deadlines,” OCCC general counsel said.
  • OHBets: Who Could Replace Fubo As The Cleveland Cavaliers’ Digital Betting Partner?
    • Fubo Gaming announced a sudden end to its sportsbook operations in October, and the news had a ripple effect on sports betting in Ohio. The news left the Cleveland Cavaliers, who formed a digital sports betting partnership with Fubo early in the year, searching for a mobile sports wagering partner.
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