New Casino Laws

New Casino Laws

Laws regarding gambling often change as law makers debate the topic. Certain states change the laws concerning gambling more frequently than others do.

Of the 50 states that comprise America, Georgia is known as the state that is the least friendly when it comes to gambling. It has been banned in the state of Georgia, and this ban includes tribal run casinos as well. However, legislators have considered bringing gambling to Georgia in order to help the local economy grow and thrive. This led to the proposal of a bill that would allow for six casinos to be constructed in Georgia. Four of them would be located close to the Georgia state border and two of them would be built in Atlanta. This bill would require any gambling venue in Georgia to pay a tax rate of 12% for any revenue made from gambling. The bill also stated that of the revenue amount, 90% of it would be earmarked for educational programs such as the HOPE scholarship. It has been estimated that this would give the state $280 million worth of tax revenues per year.

The bill was shot down after Governor Deal expressed his disbelief that allowing casinos in Georgia would improve the quality of life of its residents. It has been said that if the tax rate from casino revenues was more than 12% the Governor might be persuaded to change his mind. Deal wants the tax rate on gambling revenue to be anywhere from 24% to 35% before he agrees to the change in the law. This bill is being debated by Georgia law makers for the duration of the year and may eventually be passed.

In New Jersey a bill has been proposed that would allow casinos to be built in North Jersey in order to increase the state’s gambling revenue. Another bill has been proposed as well and it has been said that if two new casinos are built and earn revenue that some of the revenue could be used to help pull Atlantic City out of its financial slump. The new casinos would have to be run by gambling operators already working in the state. Both bills are scheduled to be on voting ballots for the 2016 elections in November.

Illinois is also considering building casinos in order to help pay for public pensions and help lessen the gap in the state’s budget. A bill introduced to the Senate last year proposed that large casinos should be built in Chicago and small satellite casinos should be added to other areas of the state. If this were to happen the casinos would be required to give their gambling revenue to Chicago for a period of seven years. For years, lawmakers in Illinois have been trying to expand their gambling industry. Illinois’s current Governor is interested in doing so, despite his predecessor not being interested.

These potential changes in the law speak to how powerful gambling has become as a form of revenue.