A bill in the New Jersey Senate would double the tax rate casino licensees pay on their online casino win. As you would imagine, the proposal is not too popular with the companies that hold those licenses.
At the same time, the beneficiaries of such tax revenue in New Jersey could make great use of the extra funds. Even though the funding comes from people playing games, their situation is anything but a game.
Currently, casino licensees in New Jersey pay a 15% tax rate on their wins from online casino play. That’s translated into unprecedented totals of late. New Jersey online casino win totals have hit new single-month records in five of the past six months. That included $197.1 million in March 2024 gaming revenue in NJ.
