STATESIDE
suspected abuse of gambling loss deductions. The U.S. Supreme Court later confi rmed that exact intention in their 1987 ruling, Commissioner v. Groetzinger.
Bettors have a $600 threshold on specifi c gambling actions before they must report their gambling income. The American Gaming Association (AGA) has continually argued these rules have not kept pace with infl ation. The group has pushed for a higher level since its founding in the mid-1990s because it views this fi gure as outdated and out-of-step with current economic conditions.
Sports betting, and to a lesser extent, online wagering, have clouded the issue because records often last indefi nitely. As sports betting in particular has expanded so signifi cantly in most American states, the confusion has exploded with it.
Hiding income became more challenging. For example, during the decades before such advanced technology, casinos operated as cash-based businesses. Tax laws proved harder to enforce because of no real clear-cut paper trail. That was especially true at local, smaller sites if a customer bet-and won-minor sums on multiple occasions.
Through 2025, the gaming venue was always supposed to issue Form W-2G (Certain Gambling Winnings) for a gambler to report winnings to the IRS. Whether they did or not, taxpayers are still legally bound to report all gambling winnings as “other income.”
Because consumers never wanted to pay taxes, customers typically cashed in their chips and left with the money. The onus was on them to comply with all laws and fi le accurate returns. Tracking was diffi cult and virtually everyone understood tax forms for minor winnings often went unreported. Most players rarely met that $600 threshold for casual play and even if they did, who would really know? Technically, taxes should be calculated from as little as $1 in winnings.
What will happen since it sounds like the gaming industry can expect plenty of questions, uncertainty and a bit a chaos during this fi rst year.
Good luck to all the accounting professionals to sort this out.
Some good tourist news to begin 2026. For months, continuous bad publicity highlighted decreased visitor numbers for a troubled Nevada industry. Much of their problems were self- infl icted.
In a gaming world where every type of property exists, it seems the higher-end a casino is, the better its odds of positive earnings. The Venetian is a prime Las Vegas example. According to CEO/President Patrick Nichols’s testimony to Nevada’s gaming regulators, his property will enjoy record 2025 tourism numbers and escape negative trends.
He echoed what many executives seem to know. Lower-end Las Vegas properties suffered the most, but luxury properties did not. The Venetian and adjacent Palazzo cater to higher- end customers. The Venetian Expo complex, formerly the Sands Expo Center, remains a top conference venue.
It’s amazing that during August and September, with its scorching desert heat, the Venetian had its best hotel revenue and occupancy months in 26 years.
Nichols acknowledged the negative national headlines motivated the Venetian to analyze its amenities and open a new affordable food court. That defi nitely proved appealing to visitors.
Finally, January is National Human Traffi cking Prevention Month. Sadly, the constant traffi c fl ow and transiency of gaming properties risks increased human traffi cking. As good corporate community members, the AGA has introduced strategies to eliminate the scourge of traffi cking.
Sharon Harris
Sharon has worked in the casino and coin- operated amusement industries since the 1980s. In the early 1990s, Sharon transferred her public relations and journalism skills to the gaming industry. She wrote her fi rst feature for Casino International predecessor EUROSLOT magazine in 1994.
As Associate Editor, North America for Casino International, Sharon has chronicled the explosive growth of U.S. gaming and reported on its most signifi cant changes. She has traveled across America to participate in dozens of industry events and has interviewed
hundreds of gaming operators,
executives and suppliers.
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