Jun. 2 at 11:58 AM
$DKNG $PENN $WYNN $LVS $SRAD
Illinois approves budget with tax increases on sports wagering, SBD reports
A last minute proposal to include a new tax on Illinois sports bets was approved by state lawmakers on Saturday, May 31, as the state's
$55.2B fiscal year budget will soon be signed into law by Gov. J.B. Pritzker, Robert Linnehan writes in Sports Betting Dime.
The new tax will see a new charge on the first 20,000,000 online sports bets taken in the state, and an increased charge on every bet taken thereafter. The new fee will see a 25c charge on the first 20,000,000 online sports bets taken in the state each year. The fee will increase to 50c per bet for every single bet taken after the initial 20,000,000 bets, the author notes.
Publicly traded companies in the gaming space include Boyd Gaming (BYD), Caesars (CZR), Churchill Downs (CHDN), DraftKings (DKNG), Flutter Entertainment (FLUT), Gan Limited (GAN), Genius Sports (GENI), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn Entertainment (PENN), Rush Street Interactive (RSI), Sportradar (SRAD) and Wynn Resorts (WYNN).
