New York State to Pass Nevada in Gaming Tax Revenue

new yorkThe US state of New York is on track to generate more casino tax revenue than Nevada in the current year, according to a new report by the American Gaming Association (AGA).

In 2015, New York collected $888.4 million (€803.2 million) in tax revenue, 2.8% more than in the previous year, while Nevada generated $889.1 million, 0.87% up on the previous year.

However, according to the AGA, should trends continue, New York will overtake Nevada with this year’s figures and move into third place for collecting tax revenue from casinos within its borders.

Pennsylvania is some way out in front, despite only having legalised casinos in 2004, but is boosted by a 55% tax rate in slot machines and 16% for table games.

The state is also in the process of deciding whether to legalise online gambling, which could further boost overall figures.

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