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Maryland Lottery director expects fiscal 2024 sports betting tax growth

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Maryland Lottery Director John Martin said the state’s mobile sports betting market generated the previously estimated $25m-$30m in revenue contribution during the last fiscal year. He said the contribution could reach the low $40m range in fiscal 2024, which ends in June. Martin said he did not expect major changes to the market in 2024, while lawmakers were expected to discuss possible online casino legalisation.

Operators and investors can assess the state’s stated revenue outlook alongside its expectation of limited near-term market expansion.

End-of-day close Caesars Entertainment (CZR), USD, to 5 January 2024
Story date9 October 20235 January 2024

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North Carolina lawmakers propose 23% online sports betting tax

North Carolina lawmakers advanced a tax package that would raise the online sports betting tax from 18% to 23% and require operators to report customers who win more than $2,000 from bets. The proposal is expected to receive Senate approval before going to Governor Josh Stein; industry representatives warn the higher tax could reduce promotions and worsen odds.

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