There’s been progress for Casino legislation in Alabama, after state Rep. Chris Blackshear and Andy Whitt introduced House Bill 152, which would legislate and legitimise taxing of brick and mortar gaming, alongside sports betting and lottery.
In a bid to ensure the full stability of the regulatory framework in the region, there would also be the establishment of the Alabama Gaming Commission.
It comes following continued efforts to progress gaming legislation in the region, with House Speaker Nathaniel Ledbetter putting together a committee to advocate for gambling legislation in Alabama last year.
In HB 152, there would be a state tax on net gaming revenue from casino-style gaming and sports betting. The measure would levy a 24 per cent tax rate on casino-style gaming, which is paid by establishments within 20 days after the end of each calendar month.
About 95 per cent of the tax revenue generated from casino-style gaming will be allocated to a gaming trust fund, while a portion will go to the General Fund Budget Reserve Fund and also back to gaming establishments across the state.
Funds will be donated to the General Fund until it reaches $300m. Today, it sits at around $150m, according to Blackshear. HB 152 sees retail and online sports betting in Alabama taxed at a 17 per cent rate with 90 per cent of revenue allocated toward the gaming trust fund and another 10 per cent toward each county commission of the state. Funds given to counties are to be allocated toward law enforcement.
