New Jersey’s proposal to increase taxes on online gambling has sparked significant backlash from industry stakeholders.
Governor Phil Murphy’s fiscal year 2026 budget includes a plan to raise the tax rate on online casinos and sports betting from 15% to 25%, with the goal of generating an additional $402.4 million in state revenue.
This proposal, however, has not been well-received by the gambling industry.
Tax Increase Details:
The proposed tax hike would raise online gambling taxes from 15% to 25%.
The aim is to generate additional revenue for the state, which would be allocated to the Casino Revenue Fund and the General Fund.
Industry Backlash:
Casino Association of New Jersey (CANJ) has expressed strong opposition, warning that the tax increase could harm the Atlantic City economy, potentially leading to job losses and a reduction in industry investment.
Online gambling operators such as BetMGM and FanDuel have also voiced concerns, stating that the tax hike could lead to fewer promotions and changes to betting odds, which would negatively impact the customer experience.
Potential Consequences:
Job Losses: Increased operational costs could result in job cuts in the gambling sector.
Reduced Investment: Higher taxes could drive operators to seek more favorable tax environments, potentially pulling back investment in
Impact on Consumers: With reduced promotions and changing betting odds, consumer satisfaction could be affected.
This proposal is still under review as part of New Jersey’s budget process, and the state’s lawmakers will need to weigh the potential economic benefits of the tax hike against the concerns raised by the gambling industry.
This proposal is still under review as part of New Jersey’s budget process, and the state’s lawmakers will need to weigh the potential economic benefits of the tax hike against the concerns raised by the gambling industry.
Casino Association of New Jersey (CANJ) has expressed strong opposition, warning that the tax increase could harm the Atlantic City economy, potentially leading to job losses and a reduction in industry investment.
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