New Illinois Sportsbook Tax Raises The Stakes On Future Real Estate Investment When Illinois legalized sports gambling five years ago, sportsbook operators bet big in hopes of cashing in on what would become one of the biggest legalized sports betting markets in the country. So far, the gamble has mostly paid off. But a new tax structure enacted this summer could threaten what had been fast-paced real estate investment in brick-and-mortar facilities in the state, according to industry watchers and advocates. 
Before July 1, Illinois taxed sportsbooks at a 15% rate on their revenue after paying out winnings and covering certain costs. The new progressive structure taxes sportsbooks at a minimum of 20% on their adjusted revenue for the smallest operators and a maximum of 40% for the biggest operators.That increase,… Read the full story here. | 
