A bill has been introduced in the New Jersey Senate that would increase the tax rate for online casino and sports betting operators in the US state.
Sponsored by Senator John McKeon, S3064 seeks to increase the annual tax on igaming and online sports betting gross revenues to 30 per cent, up from the current rate of 15 per cent and 13 per cent respectively.
S3064 was first reported back in March, but now it has been introduced in the New Jersey Senate, where it has been referred to the Senate State Government, Wagering, Tourism and Historic Preservation Committee.
The current igaming tax rate for operators in the Garden State is split as 15 per cent tax to the Casino Revenue Fund, plus an additional 2.5 per cent to the Casino Reinvestment Development Authority.
Under S3064, only an additional 1.25 per cent would go to the Casino Reinvestment Development Authority.
A rise in the tax rate would bring New Jersey in line with some of its neighbouring states such as Pennsylvania, which has a 54 per cent tax rate for online slots and a 16 per cent tax rate for table games and poker.