New York set to surpass Nevada in gaming tax revenue

new yorkNew York set to surpass Nevada in gaming tax revenue November 7 2016

The US state of New York is on track to generate more casino tax revenue than Nevada in the current year, according to a new report by the American Gaming Association (AGA).

In 2015, New York collected $888.4 million (€803.2 million) in tax revenue, 2.8% more than in the previous year, while Nevada generated $889.1 million, 0.87% up on the previous year.

However, according to the AGA, should trends continue, New York will overtake Nevada with this year’s figures and move into third place for collecting tax revenue from casinos within its borders.

Pennsylvania is some way out in front, despite only having legalised casinos in 2004, but is boosted by a 55% tax rate in slot machines and 16% for table games.

The state is also in the process of deciding whether to legalise online gambling, which could further boost overall figures.

New Jersey is currently ranked second in the US market, although its position is under threat, with 2015 being the ninth consecutive year of revenue decline, despite an improving online gaming sector.

While Nevada is in danger of slipping down the list, it is far ahead of top state Pennsylvania in terms of gross gaming revenue from casinos, posting $11.11 billion in 2015, compared to $3.17 billion in Pennsylvania.

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November 13, 2016: posted in News And Reviews No Comments

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