Infacet Gaming: Dina Titus seeks to revive playing loss deductions to 100% | Infacet Gaming | Enterprise

Industry specialists say a seemingly minor adjustment to the playing tax code present in President Donald Trump’s signature invoice is “bad policy” and will have main unintended penalties.

During a public city corridor organized by U.S. Rep. Dina Titus, D-Nev., a panel comprised of gaming, tax and tourism specialists all concluded that the One Big Beautiful Bill Act’s change to playing loss deductions will negatively have an effect on gamblers and the on line casino trade.

“It’s a very simple change, but (it has) a great deal of impact,” Titus mentioned at the beginning of the Aug. 11 city corridor inside Las Vegas City Hall.

The change stems from an modification within the OBBBA that limits the quantity gamblers are in a position to deduct from their winnings to 90 % of losses. For instance, if somebody received $100,000 throughout a visit to a Las Vegas on line casino however misplaced $100,000 for the yr, they must pay taxes on $10,000 reasonably than pay zero below the earlier tax code. The new regulation goes into impact for 2026 tax filings.

Titus has launched the Fair Accounting for Income Realized from Betting Earnings Taxation (FAIR BET) Act to revive playing loss deductions to 100%.

Adam Robinson, a board member of the advocacy group American Bettors’ Voice, mentioned the OBBBA’s change in coverage forces individuals to pay taxes on “phantom income.”

“In the professional space, a lot of livelihoods depend on the fair taxation of gaming,” he mentioned. “This new cap on the gambling loss deduction is fundamentally a fairness issue. It taxes people on money that they never earned.”

Nevada Resort Association President and CEO Virginia Valentine expressed concern that the state’s major financial engine may endure.

“The proposition when you walk into a casino is that you’re going to be treated fairly … the game’s going to be fair, and that, at the end of the day, you’re going to be taxed fairly,” Valentine mentioned. “This (tax code change) challenges that notion.”

Appeals court docket upholds dismissal of price-fixing claims

A federal appellate court docket sided with a handful of Las Vegas casino-hotel operators in a category motion declare alleging a price-fixing scheme to inflate room charges.

The San Francisco-based ninth U.S. Circuit Court of Appeals upheld a Nevada district court docket’s dismissal of the swimsuit in opposition to Caesars Entertainment, Treasure Island, JC Hospitality, Blackstone Inc., Wynn Resorts Holdings and Cendyn Group, a Florida-based hospitality information analytics and software program agency. The court docket decided that the plaintiffs didn’t show a coordinated effort on the a part of the lodge operators who had been all utilizing the identical room reserving software program.

“Rather than eliminating competition, pricing one’s hotel rooms in a manner calculated to maximize profits is how one competes,” the three-judge panel wrote.

An identical proposed shopper class motion declare in opposition to a number of Atlantic City casino-hotel operators was dismissed in 2024.

Another state bans on-line sweepstakes

New Jersey is the fourth state to ban on-line sweepstakes playing.

Gov. Phil Murphy signed a invoice into legislation Friday prohibiting the apply the place prospects buy digital forex to play on-line on line casino video games.

The Garden State joins Nevada, Montana and Connecticut as states which have legislatively enacted bans on on-line sweepstakes. New York lawmakers handed a web-based sweepstakes ban, however the governor has but to signal the invoice into legislation.

Opponents of on-line sweepstakes consider it too intently resembles actual playing. Sweepstakes proponents declare the bans are authorities overreach designed to guard current gaming operators.

Bally’s Chicago IPO

Bally’s Corp. has accomplished an preliminary public providing to solicit traders for its Chicago on line casino, however the providing fell in need of its fundraising expectations.

The firm, which owns and operates a on line casino at Lake Tahoe and has ambitions to construct a resort adjoining to the Athletics stadium on the Strip at Tropicana Avenue, offered 10,000 shares in 4 value tiers in its providing, however solely offered 2,076 shares at $250 every, 173 shares at $2,500, 148 shares at $5,000 and 154 shares at $25,000.

“Nearly 1,800 unique shareholders, including 1,007 Chicagoans and 1,573 Illinois-based shareholders, are now partners of the project, going a long way to fulfilling our commitment to the City of Chicago,” Bally’s mentioned in an announcement.

The firm was chosen by town in 2022 to construct Chicago’s first on line casino that may characteristic a 500-room lodge, a 3,000-seat theater, 10 eating places, 2,700 slot machines and 95 desk video games.