|Dear Gaming Colleague:
As we close out 2016, I’m pleased to share that the Internal Revenue Service (IRS) officially dropped its burdensome gaming proposals, marking a big win for casino patrons.
The final regulations:
- Drop its electronic player tracking proposal altogether (AGA opposed);
- Drop its conceptual idea of lowering slot win reporting thresholds (AGA opposed); and
- On the optional aggregation method, payee ID, and other provisions, the final regulation appears to incorporate many of AGA’s technical suggestions, such as use of gaming day for optional aggregation.
This news is significant not only for gaming companies and millions of casino visitors, but also for state and local governments that would have received fewer gaming tax dollars as a result of what would have been burdensome federal requirements.
Since the IRS announced the proposal nearly two years ago, the AGA’s grassroots campaign mobilized thousands of casino customers, members of Congress from 11 states urged restraint and compelling research demonstrated that the tax threshold should be at least $4,700 when adjusted for inflation.
For more background on this issue, click here. We look forward to continuing to work with the IRS and our federal partners to modernize regulations and protect millions of casino customers around the country.
President & CEO