Tax News

Colorado Flag

Colorado sports wagers top $12 billion since launch

Sports wagers in Colorado have totalled $12.10 billion in the first three years of regulated sports betting in the Centennial State.

Wagering in April was up by 7 per cent to $417.8 million, with retail betting 6 per cent higher at $3.4 million and online betting 7 per cent higher at [...]

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Nevada gambling revenue climbs 3% in April

Gambling revenue in Nevada rose by 3 per cent to $1.16 billion in April, with the state’s sportsbooks enjoying strong year-on-year growth.

Total sports betting gross win in Nevada was up by 28 per cent in the month to $32.4 million, on wagers of $598.0 million, up by 3 per cent [...]

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Deadwood, South Dakota

South Dakota gambling turnover up by 8% in April

South Dakota’s gambling turnover grew by 8 per cent to $109.3 million in April, with both sports betting and gaming increasing year-on-year.

Sports handle increased by 34 per cent in April to $493,044, but still set the state’s lowest total for eight months.

The margin was low at 4.6 per cent [...]

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New Hampshire

New Hampshire sports betting 11% lower in April

New Hampshire’s sports betting handle fell by 11 per cent to $65.1 million in April, as both online and retail betting dropped year-on-year.

Online betting fell by 6 per cent to $56.8 million, marking the lowest level in New Hampshire since August 2022. New Hampshire’s retail betting was down by 35 [...]

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Virginia posts $35 million in April gaming revenue

Virginia’s two casinos posted land-based gaming revenue of $35.4 million in April, with $25.1 million from slot machines and $10.3 million from table games.

The Hard Rock Bristol had total gaming revenue of $14.0 million. The casino’s 888 slot machines had revenue of $11.3 million and its 29 gaming tables earned [...]

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Detroit, Michigan

Michigan online sports and iGaming revenue up 20% in April

Michigan’s revenue from online sports betting and iGaming increased by 20 per cent to $195.7 million in April, with both sectors showing growth.

Gross revenue from Michigan’s iGaming sector rose by 20 per cent in the month to $159.4 million and online sports betting gross revenue was 18 per cent higher [...]

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Nashville, Tennessee

Tennessee records sports handle of $318 million in April

Sports handle in Tennessee increased by 9 per cent year-on-year to $318.4 million in April.

An improved win margin of 10.8 per cent (2022: 9.3 per cent) meant that Tennessee’s betting gross win increased by 26 per cent to $34.3 million.

Adjusted gross income for the month was $32.2 million, an increase [...]

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Wyoming State Flag

Wyoming sports handle grows 26% in April

Wyoming’s sports handle grew by 26 per cent to $12.6 million in April, with gross win up by 25 per cent to $1.3 million.

Adjusted taxable revenue from Wyoming’s betting operators almost doubled in April to $828,477 (2022: 420,883) and gave monthly tax of $82,847.

DraftKings continued to dominate Wyoming’s betting sector, [...]

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UK horserace betting Levy to yield £99 million in FY2023

The Horserace Betting Levy Board (HBLB) believes UK Levy income will be around £99 million for the year ended 31 March 2023, based on the provisional submissions from the majority of Levy-paying bookmakers.

The HBLB had anticipated that the Levy yield would be in the range of £90 million to £95 [...]

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Massachusetts casinos report April revenue of $102 million

Massachusetts’s three gaming venues reported land-based revenue of $101.5 million in April, an increase of 2 per cent versus the same month last year.

Gaming revenue increased by 2 per cent to $101.2 million, with a 4 per cent rise in slot machine revenue to $68.1 million mitigating a 2 per [...]

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Chile casinos post March revenue of CLP46.8 billion

Chile’s casino revenue increased by 7 per cent to CLP46.77 billion (€53.1 million) in March and took first quarter revenue to CLP143.02 billion.

There were 618,452 visitors to Chile’s casinos during the month, a 31 per cent improvement versus March 2022.

Quarterly visitor numbers grew by 36 per cent to 2.02 [...]

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Massachusetts sports handle hits $579 million in April

Massachusetts recorded sports handle of $579.3 million in April, the second month of online betting in the state.

The six active online sportsbooks generated wagers of $566.2 million in April, with DraftKings the market leader with a 50 per cent share of handle at $283.8 million. FanDuel had handle of $172.6 [...]

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