STATESIDE
Bessent met with small business owners in upstate New York. As of that session, he confi rmed the tax break had already benefi tted 5.7 million individuals. Another 23 million people have used the overtime deduction feature. When all is calculated, almost 30 million U.S. taxpayers will be rewarded with refunds.
Trump knows how to create symbolism and a splash. He fi rst fl oated the idea during a June 2024 rally in Las Vegas, as he campaigned to retake the Presidency.
To celebrate this news last month, Trump quickly boarded Air Force One for a victory visit to Las Vegas. He spoke to 250 attendees at a non-gaming hotel, citing Las Vegas as home to the largest tipped worker base “anywhere in the country, anywhere in the world.”
By some estimates, the refunds could average $5,000-$7,000. That can make a major difference in a casino worker’s life.
“Thanks to our tax cuts, this week, thousands of Nevada waiters, waitresses, casino dealers, bartenders, bellmen, barbers, caddies… and valets received the biggest tax refunds of their entire lives,” Trump said.
He is right, but it is a mixed bag in Nevada and other states. Trump’s glowing comments on affordability and a “booming” economy excluded other facts. Gas prices are up nationwide, Las Vegas tourism is down and Canadians are not rushing to the U.S. for vacation.
Do statistics back up Trump and Bessent’s assertions for real people? I again turned to “Bar Rescue” television reality series Host/Executive Producer Jon Taffer. I fi gured his 40-plus years of hospitality experience will cut through the rosy political chatter. I cited him last month for his take on decreasing liquor and food consumption. Taffer applauds the program for multiple reasons besides more money in employees’ pockets. He estimates six million will take advantage of deducting tips with the average being $7,100, but a behind-the-scenes impact is even greater. Taffer believes employee morale and customer service will improve. Maximizing their tip opportunities will incentivize better work habits.
Employee turnover will also decrease. It sounds like a win-win, but we can always expect the spoilers. Leave it to California Governor Gavin Newsom, Illinois Governor J.B. Pritzker and New York Governor Kathy Hochul to decide their states should eliminate the deduction to reinforce their treasuries. Since federal law supersedes state law, I expect a future court challenge. It’s ironic that billionaire Pritzker’s family’s fortune came from owning Hyatt Hotels, where employees rely so heavily on tips.
Taffer worries that restaurant operators, including those in smaller casinos near state lines, will suffer. Nevada has multiple cities/towns very close to California. Illinois is only a bridge ride away from Iowa riverboats.
Their employees may easily cross borders to earn more. Taffer says, “This potential practice cuts the legs off operators in these vicinities.” Can these bureaucrats give average people a
break? Let’s end with a great Nevada story. From the
1930s to Atlantic City’s legalization in 1976, Nevada monopolized legal American gaming. The only alternative was traveling to a Caribbean island. When the “cool” Hollywood set traveled a few hundred miles to both northern and southern Nevada, the public loved it. The hottest entertainers performed in every major casino’s showroom. As legalized commercial and tribal gaming expanded nationwide, the smaller, more rural communities in northern Nevada felt the negative economic effects.
However, Americans love a comeback. Lake Tahoe’s Cal Neva Resort was named 100 years ago for its location along the northern California/ Nevada border. Today, a few Lake Tahoe-area casino properties strategically straddle both states, but ensure the gaming fl oors operate within Nevada’s borders.
Cal Neva will enjoy a renewal after a 10-year closure. It will rise and reopen in 2027 as the Lake Tahoe Proper Resort and Casino. With $298 million in fi nancing secured, the revival dream should become a reality.
Proper Hospitality co-founder/CEO Brad Korzen
promises to retain the historic value. He said, “The history of Cal Neva inspired every decision…The design, the casino and the glitzy entertainment performance areas are all a nod to that golden era of Hollywood glamour, but translated for a modern audience.”
Constructed in 1926, Cal Neva was quickly rebuilt in 30 days after a 1937 fi re. During the heyday of the 1950s/1960s, Cal Neva’s clientele included that era’s superstars. Think Frank Sinatra, Dean Martin, Marilyn Monroe and many other big names.
In 1960, Sinatra, Martin and Chicago mobster Sam Giancana each bought a piece of the Cal Neva. Those days were clearly different…Giancana could never get in on that deal in today’s regulated environment.
Developers hope tourism gets a boost, spurring economic activity, in the magnifi cent, scenic Lake Tahoe region. And, why not? The area is a year-round treasure for the swimmers, sun worshippers and skiers.
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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