New Jersey’s online gambling licensees are facing a significant tax hike under a bill introduced this week by Senator John McKeon.
Senate bill 3064 aims to double the tax on gross revenue from online casino gaming and sports betting.
This would see the online gaming tax climb from 15 per cent to 30 per cent, and the online sports betting tax rise to the same level from the current rate of 13 per cent.
If approved, the new tax rate would take effect on January 1.
The distribution of funds would remain unchanged with all online gaming and betting tax going to the Casino Revenue Fund.