Amid the ongoing iGaming momentum in the U.S., Evolution’s Chief Product Officer Todd Haushalter says fair taxes will help the U.S. market reach maximum potential. This could be one of the topics he will delve into when he speaks at the upcoming boutique and investment event iGaming NEXT New York City ’22, which will be held on May 12-13, in Manhattan.
As M&A activity keeps growing on behalf of suppliers to the US industry, Haushalter compared the current state of the market with the .com boom of the late 1990s and early 21st Century. However, the live casino specialist predicted that the iGaming revolution in the US can prove to be every bit as successful as its most optimistic proponents expect as it rolls out from state to state.
But this would be tied to taxation levels not becoming prohibitive, in order to free up suppliers to innovate and serve players with the best possible range of products, he says.
Nevada taxes brick-and-mortar casinos at a maximum rate of 6.75% of GGR, comparing favorably with New York’s current 51% tax imposed on GGR from sports betting.
“’Feverish’ or ‘frenzy’ are the first words that come to mind when it comes to describing the market as things stand,” Haushalter said in a release Friday. “The excitement around the business is incredibly high and it reminds me of the early days of the .com boom. Everyone knows that online gaming will be massive in America, since this is the world’s largest gaming market already. As a result of this, we are seeing many companies investing heavily today to secure their place in the future of online gaming.”
“What is needed now is the same thing that made the great land-based markets flourish – low gaming taxes and a great offering. Nevada and New Jersey have the lowest gaming tax rates in America and inevitably have seen the most investment. They also offer everything a tourist could ask for,” he explained. “In online gaming that means offering the full range of sports betting, all types of slots, skill-based games, table games, and of course Live Casino with its innovative game shows.”
Delegates at iGaming NEXT New York City ’22 will be educated on what is happening on the ground in the US, with tracks focusing on investment opportunities within the industry, as well as the convergence between iGaming and the metaverse and the consequent opportunities this will present.
