Steve Wynn wants Massachusetts to make some gaming law changes (Image: Nancy Lane/Boston Herald)
Steve Wynn nevertheless possesses battle on his hands with regards to getting a casino license for his casino that is proposed in, but which includesn’t stopped him from commenting on what their state should do along with its current gaming laws. Wynn has suggested several changes to the state’s video gaming laws, including one that would benefit players greatly if it were passed away.
Gaming Law 2.0
The suggestions from Wynn came within a trip to Boston two weeks ago, when a meeting was had by him with lawmakers about parts of the gaming law that may be revisited. Perhaps the most pressing one had to do with exactly how gambling winnings were to be taxed more specifically, the amounts over which casinos themselves would have to collect taxation before gamblers even left the building.
At the brief minute, Massachusetts law asks casinos to force gamblers to pay for state tax on any winnings over $600 before they leave the casino. The concept is not unique: most states with casino or racetrack gambling have limit over which taxation must immediately be collected, and even Native American-operated casinos usually achieve this for larger wins.
But the $600 threshold has become the lowest within the country, beating out Iowa’s $1,000 standard and the $5,000 found in all the states (the standard that is same federal governmen Continue reading “Wynn Recommends Changes to Massachusetts Gaming Laws”