New Tax Increase on Video Gaming

As a licensed video gaming establishment, it is necessary to stay informed on the latest news concerning the video gaming industry. One of the most important developments is a new budget bill that was just passed by the Illinois Senate.

This bill would go into effect July 1^st, 2024. Part of this proposal will lead to the state of Illinois receiving a higher percentage of VGT profit. Currently the state receives 34%, but the proposal is to increase that percentage to 35%. At first glance, a one percent increase doesn’t seem like it would affect many gaming establishments, but that couldn’t be farther from the truth. When you factor in that the proposal is estimated to bring in around $35 million in revenue for the state of Illinois, it is clear just how much licensed video gaming establishments can lose out on. In fact, locations like you will lose 2.94% of their revenue.

We are aware that this is difficult news to hear, but know that Accel is working with the Illinois Gaming Machine Operators Association (IGMOA) to continue to fight. Although we are doing all we can, we need your help too. As a licensed video gaming establishment owner, it is more important than ever to make your voice heard. Find your local legislator and stress the importance of video gaming revenue to the overall well-being of your business. Remind them that many local businesses rely on video gaming revenue as a key source of income!