Free Bet Deductions Taking Big Bite Out of State Tax Revenues

  • Colorado operators collect $7.5m in August revenue, but 70 percent comes from promo play
  • Handle and revenue increase, but state tax revenue down 21 percent
  • Michigan, Virginia set to launch with full promotional play tax deductions

Colorado gaming regulators reported another month of record high revenues and betting handle in August, but thanks to an operator-friendly financial model, one revenue stream not seeing a steady increase is state tax income.

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