Another prominent member of the gambling industry has come out against the gambling tax provisions in President Donald Trump’s “One Big Beautiful Bill,” a national gaming outlet reported. Per the article, Las Vegas casino owner Derek Stevens weighed in on the issue earlier this month. Stevens owns the D, Golden Gate, and Circa Casino in Downtown Las Vegas. He said the provisions may drive more gamblers to use offshore online casino operators. Thus, it deprives states of tax revenues and puts casino jobs in jeopardy. Under the new provision, gamblers could only write off 90% of their losses. Indeed, with the updated clauses in this report, it would appear that gaming outlets in Nevada and also across the country are going to have to adjust to this sweeping legislation.
For this article, SBS will be going over the latest gaming updates coming from Sin City, along with some additional notes and news that you can only find at SBS.
Noted in the article, Stevens said the addition of the gambling language came after legislators rushed through a bill that they did not completely understand. “This affects everyone in Las Vegas, because this, like I said, will impact jobs,” Stevens said in an interview with a local state outlet. “This impacts visitation, tourism. It’s an important thing that just needs to be corrected.” Stevens has a negative outlook on the future of Sin City if nothing is changed. However, he does not think the politicians wrote the provision with the express intent of hurting the industry.
“I do not think anyone – Democrat or Republican – had any intent on hurting Las Vegas or, for that matter, hurting the gaming industry in any sense. It’s just that the way this developed, it will really hurt Vegas,” Stevens said. “It will really hurt the gaming industry. And that’s why this has to get fixed, because no one wants this to happen.” Many poker players took to social media over the last two weeks to warn others about the provision and the impact it could have on poker as well as the entire gaming industry.
“There will be fewer people that can gamble, less money to be won, more people going overseas, more people going (through) illegal routes,” poker pro Doug Polk said in a video. “There are all these negative impacts that could very well cost you more than this 10% you are trying to gain.” Indeed, with so many industry sources weighing the pros and cons of this new directive, it would seem that the jury is still very much out on this topic. Of course, there are even more political sources that can weigh in on what this means for gaming in the Silver State.
Also covered in the article, Rep. Dina Titus of Nevada filed the FAIR BET Act (Fair Accounting for Income Realized Earnings Taxation Act), which would nullify the gambling tax provision in the bill and restore the 100% loss deduction. However, this was met with some pushback from Republican Todd Young in the Senate. For his part, Stevens said he has met with lawmakers about the bill and is hoping to see the loss deduction revived.
“It should be a very simple fix, but I know everything gets a little more complicated sometimes than it ought to be,” he said. “This is good for all our states. This is good for gamblers. It is good for recreational players as well as professional gamblers.”
Of course, there is still much to be considered here when it comes to all of the new moving parts as it pertains to new gaming legislation, not only in Nevada, but across the country as well. Many in the Silver State are becoming more cautious about how these new national bills will affect their daily operations, especially given how much the economy is tailored around gaming. Of course, there has been much more diversification of industries and other organizations in the state doing business, especially following the recession in the late 2000s. In any case, though, gaming is still a significant industry in Nevada.
Time will tell, though, how these changes will be made with the various national powers still duking it out and also regional legislators doing their best to help manage their constituents. However, given the national exposure and importance of the BB, it would appear that this battle is far from over, even with major casino players looking for new solutions. Of course, you can always keep it locked here for the latest Vegas casino gaming news.
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About the Author
As a devout aficionado of sports, Chris Boline has carved a career within the athletic realm. A skilled scribe, he boasts a decade-long portfolio that encompasses coverage of the NBA G League, the Los Angeles Chargers, football and basketball across the country. Beyond his professional pursuits, Chris is deeply invested in his community and dedicates his leisure hours to serving on boards, collaborating with community organizations, and cherishing the company of loved ones. CURRENTLY Business Development and freelance sports writing RESIDES IN Reno, NV EDUCATION University of Nevada BS and MBA EXPERTISE -Sports writing proficiency in: NFL, NBA, UFC, boxing, golf, and some motor sports -Topical news -Promotional and marketing ideas/updates -Business development Summary Chris Boline serves in a business development sales capacity as his day job. He has previously held sales/marketing positions with The Applied Companies (TAC), KTVN 2 News and the NBA G League’s Reno Bighorns, affiliate of the Sacramento Kings. He is a Reno native and is a member of various community boards including the Nevada Sagebrush Alumni Chapter, NCET and the College of Business Alumni Association (COBAA). Chris graduated from the University of Nevada in 2015 with a bachelors in management and economics and also earned his MBA from Nevada in 2023. More about Chris: Past president of the College of Business Alumni Association (COBAA) 2022-23 Two-time honoree for University of Nevada Alumni Chapter of the Year (Nevada Sagebrush Alumni Chapter, 2017 & COBAA, 2021) 2021 NCET award for Professional Services Organization of the Year with TAC Northern Nevada Human Resources Association 2020 Best Places to Work-Northern Nevada, Second Place with TAC 2016-17 Reno Bighorns MVP from the Sacramento Kings The Nevada Sagebrush editor-in-chief 2013-15 Associated Collegiate Press 2015 Four-year Non-daily Newspaper Pacemaker honoree University of Nevada, Reno College of Business Dean's List honoree (5x) from 2011-2015 Nevada Press Association award for Best Sports Column – Community in 2015 Education
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