New Jersey senator proposes raising tax rate for online gambling revenue to 30%

New Jersey senator proposes raising tax rate for online gambling revenue to 30%

Article brief provided by PlayUSA
  • Derek Helling, PlayUSA
March 26, 2024 9:04 PM
  • Derek Helling, PlayUSA

New Jersey is one of the most robust markets for online casino operators. While demand for online poker, slots, and table games may be as strong as ever in the state, a new proposal could make operating in New Jersey less lucrative for online casino licensees.

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A New Jersey senator has proposed significantly elevating the state’s tax rate on revenue those licensees report. That could make the state’s online casino landscape for more lucrative for New Jersey’s coffers. At the same time, the bill might face significant opposition from the state’s gaming industry…

The bill would escalate the state’s tax rate for online casinos and online sports betting revenue to 30%.