Monthly Gaming Roundup - May

The gaming industry faced numerous challenges over the past month. 

Sports betting legalization efforts stalled in both Oklahoma and Minnesota, while states with active betting markets approved tax hikes on the industry to help fill budget gaps. 

Downstate New York casino efforts also faced a setback, with Wynn Resorts withdrawing its bid for a development in Manhattan. 

Despite these challenges, the industry did notch a few wins, with Missouri officially opening up its application period for sports betting operators and other states walking back tax hikes on the industry.

Here are the latest updates impacting gaming:

Sport Betting

• The Oklahoma legislature failed to legalize sports betting this legislative session. After both bills, HB 1101 and HB 1047, passed the House, they were unable to receive a vote on the state Senate floor.

• On May 15th, the Missouri Gaming Commission opened the state's sports betting application period. BetMGM became the first major operator to partner with one of the state's 13 riverboat casino operators, Century Casinos, to bring sports betting to the state.

• Legislation to legalize sports betting in Minnesota, SF757, did not advance this session. Sports betting proponents will have to wait until the next session to take up the issue. 

  
  

Taxes & Revenue

• The Louisiana House Appropriations Committee advanced HB369, which would raise the state's sports betting tax from 15% to 32.5%. 

• Ohio lawmakers introduced SB199, which would levy a tax directly on sports betting handles. 

• The North Carolina House introduced its latest budget proposal, which omitted sport betting tax hikes that were passed in the Senate's version in April. The Senate version of the bill raised the tax from 18% to 36%. 

• Maryland Gov. Wes Moore signed into law the state's latest budget, which raised the sports betting tax from 15% to 20%. 

iGaming

• Montana's governor signed SB555 into law late last month, which banned sweepstakes casinos in the Treasure State. 

• Earlier this month, Ohio lawmakers introduced legislation in both chambers, HB298 and SB197, which would legalize iGaming in the Buckeye State. 

Casinos

• On May 19th, Wynn Resorts officially announced that it is withdrawing its bid for a New York City casino in the Hudson Yards West development, citing persistent community opposition and a shift in focus toward reinvesting in other developments and conducting stock buybacks.

• New Jersey lawmakers introduced legislation, SCR130, which would amend the state constitution to allow casino gaming at Monmouth Park and Meadowlands Racetracks. This amendment would have to be approved by New Jersey voters.