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This weekend, President Donald Trump’s visit to Circa Resort and Casino in downtown Las Vegas created a buzz among gambling industry leaders. Hosted by Circa co-owner Derek Stevens, the visit focused on pressing tax issues impacting the sector, particularly the need to raise the slot tax threshold and eliminate the federal excise tax on sports betting.
The American Gaming Association (AGA) welcomed the visit, which aligns with their ongoing advocacy for tax reforms to relieve regulatory burdens on the gaming industry. AGA President and CEO Bill Miller expressed gratitude, emphasizing how Trump’s previous support during his first term had provided significant relief to the industry. “President Trump’s tremendous support for the gaming industry during his first term was unprecedented – for the first time in history, our industry was able to obtain federal economic relief in the wake of the COVID-19 shutdowns,” Miller said. He added, “We look forward to further engagement with President Trump throughout this year on critical tax policy and other important industry priorities.”
Stevens, who also owns The D Las Vegas and Golden Gate, explained that the visit was arranged at short notice. He credited Nevada GOP officials, including Republican National Committeewoman Sigal Chattah and state party Chairman Michael McDonald, for their help in organizing the event. Stevens, traditionally neutral in political matters, said the tax policy changes were too crucial to overlook. He stressed that these changes would not only support his employees but also benefit the broader Las Vegas community.
A major focus of Stevens and other industry stakeholders is the elimination of the sports betting excise tax. This tax, which imposes a 0.25% federal levy on legal sports wagers and a $50 head tax on every sports betting employee, is seen by many as a needless burden. AGA argues that this tax serves “no dedicated purpose” and puts legal sportsbooks at a disadvantage compared to illegal operators, further hindering the shift toward regulated sports betting.
Another key issue is raising the threshold for reporting slot jackpots. Currently, winnings over $1,200 require a W-2 G form, a threshold that hasn’t kept pace with inflation. Raising it to $5,000 could save the industry as much as $500 million annually, according to AGA. Stevens agreed, stating, “Raising the threshold on both of those will eliminate a tremendous amount of undue regulatory burden, and reduce a tremendous amount of wasted time in casinos across the country.”
Trump’s visit also had a positive impact on downtown Las Vegas. Jonathan Jossel, CEO of the Plaza Hotel & Casino, noted that the president’s decision to visit the area underscored its growing influence. He also highlighted the potential support for Trump’s message about eliminating taxes on tips. “It’s just incredible that he’s chosen downtown Las Vegas, of all the places he could have picked,” Jossel said. “It’s a major boost for the area, and the message of no tax on tips is something that will be well received.”