New Trump Tax Law Kills Off MGM & Caesars Rewards In 6 Months—Gamblers Will Owe Taxes Even When They Lose
The ‘Big Beautiful Bill’ was a Christmas tree of wishlist items for the Presidents and for legislators whose votes were needed for passage. But at over 1,000 pages, there are bound to be Easter eggs – special interest provisions as well as time bombs we don’t know about yet.
Just before it was voted on, one provision was discovered that made it into the final bill that will kill off casino loyalty programs like MGM Rewards and Caesars Rewards: recording your gambling transactions is going to mean a bigger tax bill, even when you lose money gambling. People…