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New York Moves to “Lock” High Gambling Tax Rate

In a stunning move of arrogance, a New York State Assemblyman is pushing a new bill to lock-in the 51% gambling tax rate. The bill would prohibit any licensees from ever requesting a change that tax, which is tied for the highest in the nation. It’s worth noting that while this bill would hamstring any operator from ever requesting a lower tax rate, it contains no language whatsoever to prevent the state from raising that tax rate. The specific wording of the bill states that “once such contracts have been awarded and a tax rate has been established, no modification...
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