State officials say the initiative would affect about 170 of Nevada’s 443 license holders. Clearly, there is strong opposition from casinos.
“This initiative represents a 33 percent tax increase on the gaming industry, which would be reckless and irresponsible,” said Virginia Valentine, president of the Nevada Resort Association. “We are currently reviewing the language. If this effort is indeed legitimate, we will oppose it vigorously.”
Monte Miller, who is backing Nevadans for a Fair 9 Percent Gambling Revenue Tax, says the increase in taxes would only affect revenue from gaming and cited an American Gaming Association report that said Illinois casinos and Louisiana casinos have much higher tax rates.
“Nevada’s individuals and small businesses are overtaxed,” said Miller. “By fairly taxing the billions of dollars that big casinos win from high-rolling gamblers, we can lower taxes and fees on individuals and small businesses who are struggling during these tough economic times.”
Because the measure intends to change state law, organizers will have to collect over 72,000 signatures by November to send the proposal to the 2013 Legislature. The measure would go to voters in 2014 if lawmakers reject the measures or fail to act on it.