Posts by Lorcan Palaca
6th Circuit Kalshi Ruling Lets Ohio, Tennessee Regulate
All three judges agreed Kalshi’s contracts on games fall outside the Commodity Exchange Act’s definition of a “swap.” Tennessee’s cease-and-desist order against Kalshi, frozen by a federal judge since January, can move forward once the ruling takes effect. Ohio’s proposed $5 million fine against Kalshi for unlicensed sports gaming is a separate action the ruling…
Read MoreMassachusetts Casino Tax Triples What Sportsbooks Pay
Massachusetts collected $29.1 million in casino taxes in August, more than three times the $9.4 million sportsbooks paid. Encore Boston Harbor and MGM Springfield pay a 25% tax on gaming revenue, while Plainridge Park Casino pays 49%. Mobile sportsbooks pay a 20% tax and retail sportsbooks pay 15%, both below the casinos’ rates. Sports wagering’s…
Read MorePennsylvania iGaming Revenue Tops Slots In August
Pennsylvania iGaming revenue rose 6.25% to $245.7 million in August, outearning the state’s $213.9 million in slot machine revenue. Retail table games fell 18.09% and sports wagering revenue fell 19.92%, pulling total statewide gaming revenue down 2.16%. Hollywood Casino at Penn National’s iGaming license generated $95.4 million, nearly 39% of the state’s online casino market.…
Read MoreMaine Sports Betting Tax Trails Casinos By Wide Margin
Maine’s two casinos generated nearly $16 million in gaming revenue during August, up 3.6% from a year earlier. Sports wagering operators processed $49.3 million in bets, more than triple the casinos’ combined revenue total. The casinos owed the state $6.8 million in taxes in August compared with $391,244 from sports wagering. Oxford Casino’s table games…
Read MoreCalifornia Tribes Call Failed CLARITY Act Vote A Win
California senators Alex Padilla and Adam Schiff both voted no as the Senate rejected CLARITY Act cloture 49-50 Tuesday. The vote fell 11 short of the 60 needed to advance the bill, which lacked the tribal sports-betting ban CNIGA sought. CNIGA Chairman James Siva called the result a victory but said the underlying problem remains…
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