New Jersey Governor Phil Murphy and legislative leaders are finalizing a new state budget that includes a proposed tax hike on online gaming, as reported on June 25, 2025. The deal includes a 'less than 20% tax' on both online sports betting and iGaming.
This potential regulatory change could impact the profitability of online gaming operators, including Boyd Gaming, which has online casino operations in Pennsylvania and market-access agreements in other states. The increased tax burden could reduce net revenues from online operations in New Jersey.
While the specific impact on Boyd Gaming's overall financials is not detailed, any increase in operational taxes in key markets represents a headwind for the online segment. The finalization of the budget will determine the exact implications for the industry.
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