Late on Sunday (26 May), Illinois senators passed a FY2025 budget that includes a sports betting tax hike that will most affect the state's biggest operators.
The Sports Betting Alliance (SBA) called the budget an “extremely disappointing decision that will cause real harm”. The proposal nearly triples the tax rate for the most successful operators.
Sunday’s version of the budget, passed by the senate, is different from the house proposal. It would make Illinois the second-most expensive state for wagering operators to do business in.
At the highest end of the scale, the operators with the highest adjusted gross revenue would pay a 40% tax. Only New York’s 51% is higher for a state with a competitive market.
The vehicle for the tax is HB 4951, which did not include the progressive sports betting tax when the house approved it. The bill now goes back to the house for concurrence.
Even smallest operators will pay more
Late Saturday (25 May), the house adjourned until after th..