Set yourself up for success at Global Gaming Expo (G2E)—the largest gathering of global, commercial and tribal gaming professionals in North America. Take advantage of new educational content that is fast-paced and actionable and experience first-hand the new products and innovative technologies showcased on the expo floor. G2E has everything you need for your casino floor and across your entire operation—from traditional casino fare to sports betting, non-gaming amenities and digital products—G2E is where your business growth is accelerated.
Key Takeaways
The gaming industry has a expansive impact on the U.S. economy – providing stable jobs to nearly two million Americans and generating billions of dollars in tax revenue. This research represents the first comprehensive report on the gaming industry’s national economic impact since 2018.
The gaming industry supports a total economic impact including:
- $329 billion of output (business sales)
- 1.8 million jobs with $104 billion of labor income (wages, salaries, tips, benefits and other labor income)
- $53 billion of federal, state and local taxes, including $13.5 billion of gaming taxes
The gaming industry directly employs more than 700,000 people in the U.S. This includes nearly 600,000 jobs on-site at casinos and corporate offices, more than 23,000 at U.S.-based operations of gaming manufacturers, and 89,000 at businesses providing goods and services to casino patrons during casino trips.
1.8 Billion
Gaming-supported jobs nationwide
$329 Billion
Annual contribution to the U.S. economy
$52.7 Billion
Generated in federal, state, and local tax revenue
“The U.S. gaming industry delivers long-term growth and impact to communities, generating significant tax revenue, creating strong jobs, supporting local small businesses, and funding critical community priorities.” - AGA President and CEO Bill Miller
The $53 million in taxes generated by the gaming industry provides critical funding for local public programs and services, including education, infrastructure and economic development, as well as supplemental revenue for state general funds.
According to the report, America’s gaming industry directly employs more than 700,000 people in the U.S. Put in context with the broader U.S. economy:
- Gaming provides more direct jobs than the air transportation, postal service or motion picture and video sectors.
- Direct casino employment accounts for 1 in 33 leisure and hospitality jobs.
Recent, related AGA research shows the economic benefits generated by gaming are widely recognized by Americans, with a record 71 percent of adults saying the casino gaming industry has a positive impact on the U.S. economy.
FanDuel Group
“Our Mission is to set the standard for what it means to be a responsible operator and commit to our customers, our colleagues, and our communities. We’re focused on three clearly defined pillars that align with our core company values, brand, and overall vision: Play Well, Work Better and Do More.” – Amy Howe, FanDuel CEO
Advancing Sustainability
FanDuel Group’s Sustainability Gameplan is closely aligned with its parent company, Flutter Entertainment plc (“Flutter”), who recently announced its Positive Impact Plan. The Plan sets the agenda for clear goals and targets on ESG, building on the strong foundations laid by each of Flutter’s divisions, including FanDuel Group in the United States.
In September 2021, our parent company, Flutter, announced its commitment to join the UN’s “Race to Zero”, and the development of science-based targets to set the company’s roadmap to get to Net Zero global emissions, well ahead of the 2050 requirement.
As part of this commitment, FanDuel Group will be exploring ways to reduce its carbon impact, such as renewable energy tariffs, developing a green travel policy, and reducing consumption of materials such as paper cups and stationery in offices.
Strengthening Diversity, Equity & Inclusion
STRENGTHENING EMPLOYEE DEI
FanDuel Group is committed to Flutter’s globally shared goal of building and creating teams that are representative of the communities in which we live and work.
FanDuel Group’s Talent Team is committed to representing its communities with diversity of thought. In addition, FanDuel Group’s Employee Resource Groups (ERGs) have been created to offer a healthy space for all people to grow within the company and to raise awareness and increase education about issues that community members face while providing a supportive space for employees to discuss shared experiences and challenges.
Supporting racial equality and social justice efforts
More broadly, FanDuel is supporting black communities through the creation of the ‘The FanDuel/Washington Commanders (previously Washington Football Team) Emergency Student Aid Fund.’ The fund provides grants and support to students enrolled in Virginia’s five historically black colleges and universities (HBCUs), such as funding towards tuition and housing.
As we build out our tech hub in Atlanta, we are focusing on campus recruiting at HBCU’s and other organizations to help drive diversity at the junior levels as well as broadening our sourcing strategies.
We also support diversity engineering conferences (SHPE- Society of Hispanic Professional Engineers), NSBE (National Society of Black Engineers), Afro Tech, GHC ( Grace Hopper Women in Computing) and SWE (Society of Women Engineers). We have partnered with the Flatiron School to support the advancement of Black tech professionals. The Flatiron School is a coding bootcamp, which also brings us professionals who do not have a four-year college degree. We have hired three fellows to date and plan to continue to participate in this program going forward.
Investing in Communities
FanDuel Group is committed to doing more to give back to the communities in which we operate. We work with our partners at a national and local level to help deliver better futures for the places where we live, work and play.
FanDuel Group’s “Duel For a Difference” initiative includes employee volunteerism and fantasy contests for good. FanDuel Group encourages all employees to support their local communities by committing two days volunteering their time and services through Flutter’s “Take 2 initiative.”
FanDuel Group’s “FanDuel for Women” initiative focuses on equity for women athletes/partners, executives/employees and customers.
Responsible Leadership
FanDuel Group is committed to creating a company dedicated to a safe, reliable, and trustworthy experience for all customers, viewing Responsible Gaming (RG) is a top priority. FanDuel Group is leading the industry forward to help sports fans enjoy sports wagering responsibly.
Establishing and Following Rigorous Business Standards
FanDuel Group is an industry leader in responsible play. RG is an integral part of everything that FanDuel Group does, with RG principles embedded into the fabric of company culture. There are more than 100 employees across the company focused on responsible gaming, with experts in RG operations, a dedicated RG engineering team, as well as specifically trained customer service members. As part of the onboarding process, new FanDuel Group employees go through responsible gaming training and current employees take part in responsible gaming training with the successful completion of RG training being tied to all employee compensation. At our retail locations and as part of our customer service operations, FanDuel has responsible gaming experts who can provide customers with resources and information to help manage play.
Protecting and Empowering Customers
FanDuel Group offers customers responsible gaming resources and tools to help manage their online casino, sports betting, horse racing and daily fantasy sports play. The tools are available in our apps and can be viewed on FanDuel’s Play Well site. These responsible gaming tools include:
- Deposit Limits
- Wager Limits (Spend Limits)
- Maximum Wager Amount Limit on a Single Bet
- Daily Time Limit
- Extended Timeout
- Self-Exclusion (FanDuel is the only major U.S. operator offering customers the opportunity to self-exclude via a free subscription to Gamban, the most comprehensive international gambling blocking software).
In 2022, FanDuel launched key initiatives to advance its RG mission. These include:
- FanDuel Group’s first RG advertising campaign and new themed content to drive awareness and usage of FanDuel’s RG tools.
- A partnership with its first responsible gaming ambassador and sports media personality, Craig Carton (see below)
- A $100,000 donation to the National Council on Problem Gambling, which furthers NCPG’s mission to advocate for programs and services to assist people and families affected by problem gambling
Recently, FanDuel named acclaimed sports media personality Craig Carton its National Responsible Gaming Ambassador focused on humanizing and destigmatizing problem gambling.
FanDuel was the first operator to support the American Gaming Association’s Have A Game Plan.® Bet Responsibly.™ campaign.
Americans expect to wager $8.5 billion on this year’s NCAA men’s basketball tournament, with 1-in-5 adults placing a bet, according to American Gaming Association research.
Key findings from the survey include:
- 47 million American adults will wager $8.5 billion on March Madness
- $4.6 billion will be wagered on a collective 149 million brackets by more than 40 million people
- In addition to those filling out brackets, 18 million more Americans will place $3.9 billion in bets at a sportsbook, online, with a bookie or with a friend
- 4.1 million will bet at a casino sportsbook or using a legal app
- 2.4 million will bet illegally with a bookie and 5.2 million more will bet online, likely at an illegal offshore site
- There is a direct correlation between entertainment and fan engagement. 57% of Americans acknowledged that if a team they bet on was in the Final Four, those games would be more entertaining
- Sports bettors are a valuable demographic: 24% of men and 27% of those making more than $100,000 a year will fill out a bracket
Previous AGA research has found that sports pool betting – including popular March Madness bracket contests – are illegal in many states.
The widespread betting on March Madness highlights Americans’ interest in sports betting and reinforces the need for states to provide a legal, regulated market for sports betting.
Methodology
This survey was conducted on behalf of the AGA by Morning Consult between March 1-7, 2019, among a national sample of 11,002 adults. The interviews were conducted online, and the data were weighted to approximate a target sample of adults based on age, race/ethnicity, gender, educational attainment and region. The margin of error is +/- 1% and greater among subgroups. Bettors include those who expect to place a bet online, with a bookie, with a casino sportsbook, casually with a friend or participate in a bracket contest.
Sands
“These values represent our founder’s legacy and our Company’s future. My pledge is to carry our ESG commitment forward and aim to exceed the expectations of our stakeholders.” – Robert Goldstein, Chairman and CEO
Advancing Sustainability
Sands has undertaken a multi-pronged approach to addressing energy, climate change, water and waste as key initiatives for the award-winning Sands ECO360 global sustainability program.
Lowering Carbon Emissions
In 2020, Sands exceeded its greenhouse gas emissions reduction target one year ahead of schedule, achieving 38.4 percent and 92.0 percent reductions for resort and ferry operations respectively. Additionally, all properties increased their purchase of renewable energy credits (RECs) to provide more emission-free electricity. The Company’s science-based carbon reduction targets are in line with the Paris Agreement, and overall reporting of energy and climate change initiatives are guided by the Task Force of Climate-related Financial Disclosures (TCFD). Sands’ latest science-based target, approved by the Science Based Targets Initiative, is to reduce greenhouse gas emissions by 17.5 percent by 2025.
Reducing Resource Consumption & Waste
Beyond the use of RECs, the Company’s energy strategy focuses on reducing resource consumption through on-site energy generation and employment of energy efficient technologies. Initiatives such as the installation of solar panels on property structures and incorporating sustainable energy alternatives has made Sands a leader in environmentally responsible business operations. For example, 91 percent of light bulbs used at Sands resorts in 2020 were LED.
In the area of water conservation, Sands created the innovative Drop by Drop Project with Clean the World to invest funding from the Company’s internal water savings into water initiatives in its local communities.
Reducing waste in all facets of the business is also a key priority for Sands. Highlights include implementing a comprehensive food waste reduction strategy, including the use of artificial intelligence to address food overproduction; creation of innovative recycling programs such as the first resort-based PPE recycling program; and continued focus on eliminating, replacing, re-using and recycling single-use plastics.
Sands ECO360
The Sands ECO360 global sustainability program drives Sands’ environmental strategy through three initiatives: green buildings, responsible operations and green meetings and events. The program works to minimize Sands’ environmental impact and uphold its responsibility to the planet.
Strengthening Diversity, Equity & Inclusion
Enhancing DEI Strategy
In 2020, Sands introduced a new Diversity, Equity and Inclusion (DEI) Charter, updated its diversity statements in board guidelines and increased transparency in DEI reporting through the Company’s ESG report. These accomplishments established a firm foundation to guide the Company’s next phase of initiatives in this area.
Accelerating DEI Engagement
From implementing a mentorship program for team members from diverse backgrounds to analyzing procurement spend and setting new targets for supplier diversity, Sands introduced new avenues to accelerate its DEI focus.
Addressing Social Justice Issues
In June 2020, Sands held a series of town hall sessions to provide open discussion on racial justice events, followed by a survey and focus groups to ensure the DEI issues most important to team members were being addressed. Strengthening external commitments to removing systemic barriers to advancement is also a Sands priority, recently providing $400,000 in new Sands Cares funding for nonprofits serving diverse groups.
Sands has invested in several DEI community partners this year, including a $163,000 contribution to The LGBTQ Center to help expand their clinic and a $75,000 donation to help the Asian Community Development Council establish an in-language client success advocacy program.
Investing in Communities
Spurring Economic Development
Sands’ presence around the globe brings a variety of economic benefits to its host communities. Cumulative global development investment in its regions is more than $23 billion, with an annual procurement spend of $2.7 billion and creation of hundreds of thousands of jobs annually. Most importantly, the Company is committed to keeping communities strong by being a catalyst for local business opportunity, investing in educational programs to support a thriving local workforce and helping solve its communities’ most pressing challenges.
Delivering in Times of Crisis
In response to the COVID-19 pandemic, Sands has provided $3.1 million in financial aid, 167,289 pounds of food to relief organizations and more than 3.1 million pieces of PPE, as well as COVID test kits, to medical personnel, schools and first responders.
Expanding Educational Opportunities
At the higher education level, Sands’ support includes partnership with the University of Nevada, Las Vegas on the Sands Center for Professional Development, grants for students at the Singapore Institute of Technology and funding for hospitality programs at Macao universities. At the K-12 level, Sands created an innovative Sands Cares partnership with educational nonprofit Nevada Succeeds to connect Nevada educators with the high-performance practices of the world-renowned Singapore educational system. Sands also partners with a variety of organizations on mentorship and other support programs to aid underserved students.
Addressing Critical Community Needs
Around the globe, the Sands Cares community engagement program works to address social issues and support vulnerable populations. The Sands Cares accelerator program provides guidance, mentorship and financial investment for nonprofits. In the U.S., Sands Cares spearheads the Company’s role as one of the Las Vegas region’s most prominent advocates for action on the homelessness crisis. Sands and Nevada Partnership for Homeless Youth co-founded the Movement to End Youth Homelessness and the Southern Nevada Youth Homelessness Summit. Sands Cares has partnered with Clean the World to establish a mobile shower unit, which has provided more than 23,000 showers and 28,500 hygiene kits, along with a range of services and resources, to aid homeless and at-risk populations since its inception in 2017.
Responsible Leadership
Protecting & Empowering Consumers
Sands Project Protect safeguards guests and team members by establishing lasting solutions to promote responsible gaming practices, prevent financial crimes and provide countertrafficking measures. Sands’ goal is to lead the industry in executing policies and procedures that not only meet but also exceed government regulations in these areas.
Rigorous Standards and Training
Las Vegas Sands prides itself in having one of the most educated workforces in the industry when it comes to responsible gaming. All Sands team members undergo annual responsible gaming training. One of the Company’s industry-leading initiatives is its Responsible Gaming Ambassador Program, in which ambassadors are trained to direct guests that ask for help or appear to need help to responsible gaming resources. Ambassadors are stationed on casino floors 24 hours a day, seven days a week.
Partnering in Research and Advocacy
In its communities around the world, Sands maintains a strong partnership with local problem gambling and recovery organizations to guide its efforts and ensure the Company remains on the forefront of responsible gaming practices. Sands is also the largest contributor to the International Center for Responsible Gaming.
Responsible Gaming & COVID-19
As resorts welcomed back guests after pandemic shutdowns, Sands took additional measures to monitor for increases in gambling behavior stemming from pandemic-related financial stress and personal hardship. Sands implemented additional prevention protocols, undertook pandemic-specific awareness and training activities to educate team members and made new self-limit forms available to guests.
Amplifying its awareness efforts, Sands addressed the intersection of COVID-19 and responsible gaming in its programming for the AGA’s Responsible Gaming Education Week and Responsible Gaming Ambassador training at properties worldwide.
Washington, D.C. – The American Gaming Association (AGA) announced the Gaming Hall of Fame Class of 2022, honoring three leaders for their noteworthy contributions to the industry:
- Gavin Isaacs, former President and CEO, Scientific Games Corporation and current Chairman, Games Global
- Virginia McDowell, former President and CEO, Isle of Capri Casinos and current Non-Executive Director, Entain plc and Cofounder, Global Gaming Women
- Michael Rumbolz, former CEO, Everi Holdings, Inc. and current Executive Chairman of the Board, Everi Holdings, Inc.
“Gavin, Virginia and Mike have each helped transform the gaming industry in their own significant ways,” said AGA President and CEO Bill Miller. “From leading casino and manufacturing operations across the country to serving in a multitude of board and advisory roles, their influence has spanned the U.S. and global gaming industry—and we are all better off for it.”
Since 1989, the Gaming Hall of Fame has recognized gaming legends, pioneers and business leaders for their lasting impacts on the industry. The Class of 2022 will be honored during an invitation-only induction ceremony at the Global Gaming Expo (G2E) in Las Vegas this October.
“The Gaming Hall of Fame is comprised of individuals that have pushed the industry forward through innovation, leadership and excellence. This year’s inductees are well-deserving additions to its ranks,” said AGA Chairman of the Board and Hard Rock International Chairman and Seminole Gaming CEO Jim Allen. “I look forward to celebrating their contributions alongside the entire gaming industry at G2E 2022.”
Hall of Fame honorees are selected by an independent panel of gaming executives. This year’s selection committee members include:
- Jim Allen, Chairman, Hard Rock International and CEO, Seminole Gaming
- Kirsten Clark, Executive Director, International Association of Gaming Advisors
- Jeffrey Compton, Business Manager, CDC Gaming Reports
- Alan Feldman, Chairman, International Center for Responsible Gaming and Distinguished Fellow, UNLV International Gaming Institute
- Craig Ferreira, Interim Executive Director, UNLV International Center for Gaming Regulation
- Dan Little, Chief Intergovernmental Affairs Officer, San Manuel Band of Mission Indians
- Cassie Stratford, SVP, Legal Operations & Regulatory Compliance, Boyd Gaming and President and Chair, Global Gaming Women
- Steve Sutherland, President and CEO, Konami Gaming
Headshots of the inductees can be downloaded for editorial use here. The inductees’ accomplishments include:
Gavin Isaacs, Former President and CEO, Scientific Games Corporation; Current Chairman, Games Global
Currently chairman of Games Global, Isaacs helped form the American gaming landscape by serving as a top executive at several of the country’s largest casino suppliers and leading multiple industry-shaping mergers. He most recently served as president and CEO of Scientific Games (now Light & Wonder), where he oversaw the company’s acquisition of Bally Technologies. Prior to joining Scientific Games, he held positions as CEO of SHFL Entertainment and Executive Vice President and COO of Bally Technologies, facilitating significant revenue growth, global expansion, and improvements to the slot businesses at both companies. He began his career in gaming with Aristocrat Technologies, where he grew the company’s Americas business to record revenue.
Virginia McDowell, Former President and CEO, Isle of Capri Casinos; Current Non-Executive Director, Entain plc and Cofounder, Global Gaming Women
Named Gaming Executive of the Year for 2009 by Casino Journal Magazine, McDowell served as the only female president and CEO of a major gaming operating company from 2007 until her retirement from Isle of Capri Casinos in April 2016. She now serves as a non-executive director of Entain plc, where she chairs the Environmental, Social and Governance Committee and serves as the designated workforce director. McDowell is also the cofounder of Global Gaming Women, a nonprofit she established in 2016 with a mission to support, inspire and influence the development of women in the gaming industry through education and mentoring. Her career in gaming spans 40 years, with additional stints in casino operations in a number of regional and destination markets.
Michael Rumbolz, Former CEO, Everi Holdings, Inc.; Current Executive Chairman of the Board, Everi Holdings, Inc.
Rumbolz currently serves as Executive Chairman of the Board of Everi Holdings, Inc., having previously served as CEO of the company from February 2016 to April 2022. For the past 40 years, he has been involved in all aspects of the gaming industry with experience encompassing gaming-related equipment and systems manufacturing and distribution; casino project development and construction; hotel and casino operations; casino fintech equipment and systems; casino regulatory technology; digital gaming; lottery and slot-route operations; and gaming legislation and regulation. He previously served as the Chairman and CEO of Cash Systems Inc., CEO of Anchor Gaming Inc., and Vice Chairman of Casino Data Systems. Mike has been a member of the Board of Managers of Seminole Hard Rock International since 2008 and a member of the Board of Directors of VICI Properties Inc. since 2017. He also formerly served as Chief Deputy Attorney General of Nevada and Chairman of the Nevada Gaming Control Board.
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Washington, D.C. – The American Gaming Association (AGA) released the third edition of its Best Practices for Anti-Money Laundering (AML) Compliance resource today. The updated document—reviewed and revised by the country’s top compliance professionals—builds on the gaming industry’s AML leadership and reflects new laws, technologies and indicators of criminal activity.
“As the methods and sophistication of financial crimes evolve, the gaming industry continues to spearhead efforts to combat money laundering,” said Alex Costello, AGA’s vice president, government relations. “An invaluable resource for our industry, this guide demonstrates gaming’s commitment to protect the U.S. financial system from money laundering and other forms of illicit finance.”
Since the last update to Best Practices in 2019:
- Congress made significant changes to the Bank Secrecy Act through the Anti-Money Laundering Act of 2020.
- FinCEN granted the gaming industry federal exceptive relief for certain types of ID verification.
- Sixteen additional states legalized sports betting and iGaming.
- Nearly a dozen gaming jurisdictions approved the use of digital payments and forms of cryptocurrency.
- New types of cybercrimes and fraudulent activity have surfaced.
To address these changes, Best Practices provides updated guidance, expanded red flag indicators, current compliance obligations, revised definitions and other essential information for gaming companies to maintain their strong AML regimes.
The casino gaming industry is recognized as a leader in AML compliance. In 2014, gaming became the first industry to collectively establish this comprehensive set of best practices for AML compliance. In 2021, the industry filed nearly 55,000 suspicious activity reports to aid law enforcement in fighting money laundering activity. In addition, the AGA represents gaming on the Bank Secrecy Act Advisory Group (BSAAG), a group organized by FinCEN to collaborate with stakeholders in the financial sector.
BIRMINGHAM, Ala. & WASHINGTON, D.C., March 9, 2022 – The new United States Football League (USFL) today announced it has joined the American Gaming Association’s (AGA) Have A Game Plan.® Bet Responsibly.™ public service campaign. The USFL will promote responsible sports wagering through its broadcast, cable, streaming and social media outlets.
“We’re proud to partner with the AGA to help drive the important message to bet responsibly,” said Edward Hartman, USFL Executive Vice President of Business Operations. “As sports wagering expands nationwide, the USFL is committed to help educate our fans so they can better enjoy the experience.”
Today, sports wagering is legal in 33 states and the District of Columbia, and 50 percent of American adults can now bet legally in their home state.
“Responsible gaming leadership from professional sports leagues like the USFL is critical to getting sports betting right,” said AGA Senior Vice President Casey Clark. “We’re thrilled to welcome the USFL as a partner and value their commitment to prioritizing responsible sports wagering education for their fans.”
Launched in 2019, the Have A Game Plan campaign promotes four principles of responsible sports wagering:
- Set a budget and stick to it.
- Keep it social.
- Know the odds.
- Play with trusted, regulated operators.
The USFL joins campaign partners across the sports, media, and sports wagering landscape, including Barstool Sportsbook, BetMGM, Delaware North, DraftKings, Entain, FanDuel, Global Payments, MGM Resorts International, MSG Network, Monumental Sports and Entertainment, NASCAR, New York Knicks, New York Jets, New York Rangers, NHL, Nuvei, Penn National Gaming, PGA TOUR, Rush Street Interactive, SeventySix Capital, Sightline Payments, Sinclair Broadcast Group, UFC, Vegas Golden Knights and Washington Commanders.
The USFL inaugural kickoff game on April 16 begins at 7:30 PM ET (6:30 PM CT) at Birmingham’s Protective Stadium. The primetime matchup pits the New Jersey Generals against the Birmingham Stallions and will be presented live on FOX, NBC and Peacock. It is the first scheduled sports competition to air at the same time on two competitive networks since Super Bowl I broadcasted on NBC and CBS, January 15, 1967.
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Washington, D.C. – The American Gaming Association (AGA) voiced its support for bipartisan legislation introduced today by Congressional Gaming Caucus Co-Chairs Reps. Dina Titus (D-NV) and Guy Reschenthaler (R-PA) to raise the antiquated slot tax threshold to $5,000 and provide a mechanism for future increases based on inflation.
The current $1,200 slot tax threshold has not been adjusted for inflation since 1977, causing a dramatic increase in the number of slot jackpots casinos and their customers must report to the Internal Revenue Service (IRS).
“Increasing the slot tax threshold to account for inflation is a long overdue change that will alleviate unnecessary administrative burdens on casino operators, their customers and an understaffed and overwhelmed IRS,” said AGA President and CEO Bill Miller.
This legislation builds on efforts by the AGA and Congressional Gaming Caucus that led to Congress directing the U.S. Department of the Treasury (Treasury) to investigate the possibility of updating the slot tax threshold through regulation. Treasury has not yet submitted that report to Congress.
“Today’s legislation provides Congress a direct path to modernize the slot reporting threshold,” continued Miller. “We look forward to continuing to work with these bipartisan leaders on Capitol Hill to address outdated regulations that impact our industry.”
The legislation is cosponsored by Reps. Mark Amodei (R-NV), Anthony Brown (D-MD) and Steven Horsford (D-NV).
Background
- According to federal regulation, when a casino patron wins a slot machine jackpot of $1,200 or more, the machine is temporarily taken out of service while the patron is required to complete a W-2G tax reporting form.
- While slot jackpots have steadily increased with inflation over the past several decades, the $1,200 threshold that triggers the issuance of tax forms has remained static since Congress established it in 1977. When adjusted for inflation, a $1,200 jackpot in 1977 would be equivalent to more than $5,000 today.
- Because the threshold hasn’t tracked with inflation, there has been a significant increase in the number of reportable jackpots, causing more operational inefficiencies for casino operators and adding to the sea of W-2G forms flooding the IRS each year.
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