Resorts World reportedly plans to ask New York officials to reconsider proposed tax rates in its downstate casino bid. Its proposal sets rates of 56% on slot earnings and 30% on table games, while the other remaining bids propose 25% and 30% rates, respectively.
Any change could alter the tax terms faced by bidders competing for New York downstate casino licences.
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Illinois Governor JB Pritzker proposed higher taxes on table games and electronic gambling in his FY2027 budget. The plan estimates $120 million in additional revenue and would raise table-game tax rates to between 15% and 50% at 15 of the state’s 16 casinos; Chicago’s casino would remain under its separate tax structure.
AGEM said the federal reporting threshold for gambling winnings subject to Form W-2G rose from $1,200 to $2,000 on 1 January 2026 under the One Big Beautiful Bill Act. In a 5 January letter, the association urged operators, suppliers and regulators to coordinate implementation, noting that some state and local rules still use the $1,200 threshold. It said suppliers must continue to comply with those requirements until they change.
US lawmakers and regulators pursued gambling tax changes and action against sweepstakes casinos in 2025, while several proposed expansions of sports betting and online casinos stalled. Federal proposals included restoring the full gambling-loss tax deduction, repealing the sports betting excise tax and setting national rules for advertising, prop bets and artificial intelligence targeting.
New York state authorities plan to impose a 72% tax rate. The rate would apply to New York City's first casino resort.
A former aide to Andrew Cuomo advocated taxing Kalshi and other prediction market operators in New York. The report described ongoing litigation between federally regulated sports prediction markets and states alleging that the exchanges operate illegal sportsbooks.