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Maryland Takes Steps to Curb Sweepstakes Gaming

Maryland Takes Steps to Curb Sweepstakes Gaming

The crackdown on online sweepstakes gaming has hit Maryland, where the operator of popular games Chumba Casino and LuckyLand Slots has been asked to exit the state or face potential consequences.The Maryland Lottery and Gaming Control Agency (MLGCA), in a letter sent last week, notified Virtual Gami

28like·0comment03-24
Maryland lawmakersagree to water down sports betting tax hike

Maryland lawmakersagree to water down sports betting tax hike

Maryland Gov. Wes Moore and key members of the state legislature appear to have struck a budget deal that includes a lower tax hike for online sportsbooks than was originally envisioned.The budget proposal Moore unveiled in January contained a doubling of the state’s tax rate for Maryland sports bet

31like·0comment03-22
Maryland gaming regulator sends cease-and-desist order to Chumba Casino owner

Maryland gaming regulator sends cease-and-desist order to Chumba Casino owner

The Maryland Lottery and Gaming Control Agency has intensified its efforts to prevent unregulated sweepstakes casinos in the state.On March 12, the agency sent a formal cease-and-desist letter to Virtual Gaming Worlds (VGW), a sweepstakes casino operator, alleging that it ran online gaming operation

25like·0comment03-19
Wall Street Bets: Growth sectors, Las Vegas Strip, Maryland

Wall Street Bets: Growth sectors, Las Vegas Strip, Maryland

Growth sectorsOn January 19 Jefferies analyst David Katz wrotehe is “reiterating our bullish stance on DraftKings, Rush Street Interactive, Sportradar, and Gambling.com. We believe that growth in the sector continues with Missouri going live, new states Minnesota/Texas/Georgia/South Carolina/Oklahom

23like·0comment01-21
Analyst: Maryland tax hikes would ‘rattle online sports betting sector’

Analyst: Maryland tax hikes would ‘rattle online sports betting sector’

Maryland Gov. Wes Moore (D) sent a jolt through Wall Street today when he proposed steep tax hikes on gambling in the Free State. Taxation of online sports betting revenues would be doubled from 15 percent to 30 percent, while casinos’ table game winnings would be levied at 25 percent rather than th

30like·0comment01-19
Maryland Governor Wes Moore proposes doubling sports betting tax rate to 30%

Maryland Governor Wes Moore proposes doubling sports betting tax rate to 30%

Maryland Governor Wes Moore has proposed a bold move to double the state’s sports betting tax rate from 15% to 30%, a decision that could impact the burgeoning industry. Unveiled as part of his latest budget plan, the tax increase aims to bring Maryland in line with the higher rates of nearby states

26like·0comment01-19
Maryland and Virginia lawmakers to explore online casino legalization in 2025

Maryland and Virginia lawmakers to explore online casino legalization in 2025

State legislators in Maryland and Virginia are set to consider bills to legalize online casino gambling over the year, marking a potential expansion of the U.S. iGaming market in 2025. Proposals in both states aim to regulate and tax digital gambling platforms while addressing concerns from land-bas

25like·0comment01-09
Wall Street Bets: Sweepstakes and gaming companies at G2E, Missouri and Maryland revenue

Wall Street Bets: Sweepstakes and gaming companies at G2E, Missouri and Maryland revenue

Sweepstakes at G2EIn an October 14 note, Analyst David Katz of Jefferies commented on meetings the company hosted at the recent Global Gaming Expo with more than 20 companies and investors. One takeaway was that change may be coming from an unexpected source.“We were involved in much discussion abou

0like·0comment2024-10-14

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