NHL Executive On NY Online Sports Betting: ‘Tax Rates That Are 51% Aren’t Going To Be Helpful’
Ken Wachtel, chief business officer for the NHL, echoed a growing belief that the 51% tax rate on New York online sports betting could hurt the industry.
Mike Mazzeo
Lead Writer
Posts by Mike Mazzeo
MSG, Knicks, Rangers Form Multi-Year Sports Betting Partnership With BetMGM
Fresh off its selection as an approved sports betting operator in New York, BetMGM formed a partnership with the Knicks, Rangers and Madison Square Garden.
With Operators Chosen, Could Online Sports Betting Kick Off By NFL Playoffs?
With the New York State Gaming Commission selecting its winning bids, the countdown is on for the launch of online sports betting in the state.
DraftKings CEO: High Taxes Will Suppress Sports Betting Promos In New York
Jason Robins told investors this week that a tax rate upwards of 50% in NY will stifle operators' long-term marketing spend.
Penn CEO: No Money To Be Made For Sports Betting Operators In New York
Jay Snowden says NY online sports betting operators won't be able to turn a profit under a tax rate that will likely be 50% or higher.
NY Council On Problem Gambling Launches ‘StrongerThanYouThinkNY’ Awareness Campaign
The NYCPG is working to remain in front of the issue with online sports betting coming to New York in 2022.