Gambling in the USA

Illinois to Increase Video Gambling Tax

Published

6 days ago

October 12, 2018

Niji Ng

Photo Source: nwitimes.com

Reading Time: 1 minute

Chicago’s governing body is planning to introduce major changes in its tax regime and video gambling is likely to witness a major tax hike. Up until now, the suburbs of Chicago had the lowest taxes in the region, but it could change soon.

The current charges include US$250 as application fee and a further US$50 as video gambling business licence fee. There is also a registration fee of US$150 per machine. As per the new tax regime, the registration fee would be US$1k per machine.

Authorities are revising an ordinance to get a vote on it before the annual May 1st application deadline, Village Administrator John Lobaito said.

“We surveyed 25 communities and based on that survey it shows that our fees are a bit low,” he said in order to explain the decision.

Trustees agree that the machines should be taxed more heavily as other jurisdictions in the area charge them with fees around the US$1k mark. “They’re not doing too bad,” village Trustee Dawn Abernathy said as she researched how much money restaurants and machine operators make a year. “I agree, go to $1,000 per machine.”

Source: FocusGN

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Niji Ng

Niji has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. Besides reporting industry headlines from all around the globe, Niji is also head of the content management team at Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

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Gambling in the USA

Pennsylvania not to allow online gambling inside casinos

Published

18 hours ago

October 17, 2018

Niji Ng

Pennsylvania not to allow online gambling inside casinos

Photo Source: automaticpoker.com

Reading Time: 1 minute

In an interesting piece of legislation, the Pennsylvania Gaming Control Board (PGCB) has clarified that it will not allow online gaming and sports betting inside casinos. Online gaming and sports betting will be soon available in the state. PGCB said geo-targeted software will be used to prohibit players from playing online poker, casino games or slots from within any land-based Pennsylvania casinos.

“The Gaming Control Board will put in place a system that, through the use of GPS software and IP Address identification, will block entry and play of Pennsylvania-licensed internet gaming if a user is outside of the state,” it was stated in a 2 page document from the PGCB. “In addition, participating in internet gaming when in a Pennsylvania casino will also be blocked.”

Gambling in the USA

MGM Springfield posts impressive revenue in September

Published

19 hours ago

October 17, 2018

Niji Ng

MGM Springfield posts impressive revenue in September

Photo Source: YouTube

Reading Time: 1 minute

The Massachusetts Gaming Commission (MGC) has announced the revenue figures for September. MGM Springfield made an impressive start by posting US$27 million in revenue during September, its first full month of operation. The gaming venue was started in August 24. It has so far amassed US$18 million in GGR from slot machines and another US$8.8 million from table games.

The state tax share from the revenue is US$6.7 million, 25 per cent of the venue’s GGR.

The MGC explained that only casino revenues, and no other proceeds from the 14-acre casino complex’s hotel, restaurants, bars and other non-gambling entertainment, are considered for the report.

According to MGM Springfield president Michael Mathis, September visitor volume was “solid” and the casino’s financial performance is “on track” with company expectations.

Source: FocusGN

eSports

Cloud9 proposes eSports facility in Santa Monica

Published

20 hours ago

October 17, 2018

Niji Ng

Cloud9 proposes eSports facility in Santa Monica

Photo Source: engadget.com

Reading Time: 1 minute

Cloud9 Esports Inc., an eSports company based in Santa Monica has proposed to construct an eSports facility in the city. The company has already raised a $19.6 million in the first round of fund raising for the purpose.

The facility is likely to be spread over 20,000–30,000 square feet and to be completed by the end of 2019.

Jack and Paullie Etienne founded Cloud9 in November 2016. It operates e-sports gaming teams across multiple titles, including Daybreak Game Co.’s “H1Z1,” Santa Monica-based Activision Blizzard Inc.’s “Overwatch,” and “League of Legends,” developed by Sawtelle-based Riot Games Inc.

Valor Equity Partners, based in Chicago, led the Series B. Venice-based Reimagined Ventures, TrueBridge Capital Partners and Glassdoor Inc. Founder Robert Hohman also participated. Valor Equity Partners Founder Antonio Gracias joins the Cloud9 board of directors.

Source: LABusinessJournal