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ESPN Bet raises Illinois minimum stake to $1 amid per-bet tax

Regulation

ESPN Bet raised its minimum Illinois bet from 10 cents to $1 after the state introduced an additional tax of $0.25 or $0.50 on each wager, according to the report. Penn Entertainment CFO Felicia Hendrix said taxes in Illinois and three other states added $10 million to the company's cost guidance for the year. The Illinois Gaming Board says operators should report per-wager fees as sports wagering receipts.

The tax and reporting guidance affect sportsbook pricing decisions and the treatment of customer surcharges in Illinois.

End-of-day close PENN Entertainment (PENN), USD, to 29 September 2025
Story date1 July 202529 September 2025

Latest reported results

PENN Entertainment NASDAQ: PENN

Quarter ended 30 September 2026

Revenue
USD 1.84bn
Operating income
USD 127.3m10-Q filing 0000921738-26-000028

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Illinois approves per-wager tax on online sports bets from July

Illinois lawmakers approved a tax of 25 cents on each of the first 20 million online sports bets placed annually, rising to 50 cents per additional wager, according to the report. The measure is part of the state’s fiscal 2025 budget and is due to take effect on 1 July, pending the governor’s signature, which he has promised. The Sports Betting Alliance opposed the tax; Citizens JMP analysts estimate it could reduce FanDuel and DraftKings’ combined adjusted EBITDA by $80 million in 2026.

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