As the USA celebrates Independence Day, iGamingFuture offers our readers a very warm welcome to our latest edition of “Letter From America”.
It’s been a wild week, starting with a new amendment to Trump’s Big Beautiful Bill, which could change the way players report and pay gambling taxes, so buckle up.
Trump’s Big Beautiful Disaster – For Gamblers
President Trump’s sweeping new tax proposal, nicknamed the “Big Beautiful Bill” (H.R.1), is raising eyebrows among gamblers and industry stakeholders.
The bill, now passed into law, includes a new amendment capping gambling loss deductions at 90 per cent, down from the current 100 per cent – meaning players could owe more in taxes even if they break even overall.
According to the Joint Committee on Taxation, the move is projected to generate US$1.14 billion (£895m) in additional tax revenue from 2026 to 2034.
Maine Legalises Tribal Online Casino – Almost
While everyone’s been distracted by the ongoing “Kalshi Crisis” and looming tax rises, legislators in the Pine Tree State have passed a raft of bills, one of which–LD 1164–now sits on Gov. Janet Mills’ (D) desk and could legalise Tribal online casinos.
If passed, the bill will make Maine the eighth full iGaming state in the U.S., and the first to legalise since Rhode Island in 2023.
It would allow the Passamaquoddy Tribe, Penobscot Nation, Houlton Band of Maliseet Indians, and Mi’kmaq Nation to operate online casinos.
New Jersey: Taxes Up, Sweepstakes Out
Midnight deadlines are becoming a trend this legislative session. And New Jersey, not to be outdone, stayed on point by approving its 2025 budget–and a tax increase for the gambling industry–just before the stroke of midnight on Monday, 30 June.
The budget raises gambling tax rates from 13-15 percent to 19.75 percent, well below the proposed 25 percent – and lower than other states, like Illinois, which also hiked operator taxes this session.
The increase is expected to generate an extra US$400 million (£290.3 million) for the state.
And that’s not all, Folks.
In a double whammy, Garden State lawmakers also passed a sweepstakes ban (34–5). AB 5447 now awaits Governor Phil Murphy’s (D) signature.
California Legal Eagle Says DFS Sites Illegal
The legal opinion everyone has been waiting for arrived late on July 3, with California Attorney General Rob Bonta confirming that DFS constitutes sports betting and is, ergo, illegal.
DFS has long been a legal grey area in the Golden State, with sites like DraftKings, FanDuel, Betr and Underdog Fantasy determined to keep operating.
The Coalition for Fantasy Sports and DraftKings affirm they have no plans to exit the lucrative market. And they have a powerful ally in California Governor Gavin Newsom (D), who disagrees with Bonta’s judgement.
Revenues Booming
GGR reports are in, and it’s more growth for the booming betting sector, with Michigan and Pennsylvania smashing records in May.
Pennsylvania: Hit a new monthly record, with GGR reaching US$601.8 million (£436.8m), up 15.5 percent y-o-y and the first month on record where revenue exceeded the US$600 million (£435.5m) mark. Growth was driven by iGaming and sports betting.
iGaming accounted for US$232.9 million (£169m), up 33.8 percent y-o-y, while retail and online sports betting revenue skyrocketed by 34.4 percent to $59.4 million (£43.1m). Retail casino spending was mixed: slots rose by 5 percent, but table games dipped by -4.55 percent.
Michigan: Joined Pennsylvania in smashing previous records, generating US$301.4 million (£218.5m) in May, beating the prior March 2025 high of US$260.5 million (£189.6m) by 15.8 percent.
When adjusted for promotions, the total was US$271.8 million (£197.3m), up 31.4 percent y-o-y. iGaming adjusted receipts were US$236.2 million (£171.5m), up 31.9 percent, while sports betting generated US$35.6 million (£25.8m), up 27.7 percent.
Massachusetts: Massachusetts sports bettors didn’t break any records, but still showed the might of the market, with GGR hitting a four-month high of US$80.7 million (£58.6m), up 41.6 percent y-o-y.
Online accounted for US$79.9 million (£57.9m), while retail brought in just US$829,605 (£602,177). DraftKings led the market, almost doubling FanDuel’s revenue.
Fanatics Add Surcharge in Illinois
Fanatics has now joined Illinois market leaders FanDuel and DraftKings in announcing a per-bet player surcharge of US$0.25 (£0.20).
Operators in the state are challenging the newly imposed tax increase, which passed as part of the state’s new budget and imposes a US$0.25 charge on the first 20 million online bets statewide annually, and then US$0.50 (£0.40) on every bet after that.
With three out of a total of 14 sportsbooks now on board, it seems operators are carefully weighing whether it’s time to stand up to lawmakers and demonstrate that the industry is not a silver bullet with which to balance the books by passing it on to consumers, or to toe the line and take the hit.
New York Casino Bids In
June 27 marked the application deadline for the Big Apple’s hotly-contested casino race. Eight operators remain in the running, competing for one of the three lucrative new casino permits – read iGF Editor-in-Chief André Dubronski’s full coverage here.
Global Gobble
In an all-cash transaction, private equity giant Apollo Global Management has completed its US$6.3 billion (£4.61bn) acquisition of International Game Technology’s (IGT) Gaming & Digital business and Everi Holdings.
The deal unites IGT’s legacy gaming assets and Everi’s digital and financial technology operations under one roof in Las Vegas.
IGT Interim CEO Nick Khin called it: “A defining moment for our industry.”
Vegas Slump Continues
Nevada GGR for May was US$1.29 billion (£945.45m), down two percent, year-on-year.
And The Strip’s stats are even bleaker: down four percent, y-o-y, to US$713.7 million (£523.08m), according to the Nevada Gaming Control Board.
The May decrease–mirrored in big falls in visitor numbers from Canada and Mexico, thanks to the exigencies of the ICE border migrant crackdown–represented the fourth consecutive monthly decline and the ninth in the last 10-months for the Strip.
It’s A Lot
And finally Intralot and Bally’s Corporation have agreed a €2.7 billion (£2.32bn/US$3.17bn) cash-and-stock transaction that will see the Greek lottery and gaming technology giant acquire Bally’s International Interactive division.
What’s that about “Beware Greeks bearing gifts!”
We say grab it while you can.
That’s all folks. Enjoy.
