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Texas Casino Gambling Legalization At Hands As Billionaire Renews Interest
November 30, 2020 Andrej Vidovic
Texas is one of the US states that has been most resilient when it comes to the idea of legalizing casino gambling. That may all change soon, with the development in two areas: the pandemic that damaged Texas’ economy badly and a billionaire entrepreneur Sheldon Adelson which has renewed his interest in the politics of the state.
Adelson is also the chairman and CEO of Las Vegas Sands – one of the largest gambling companies in the US. He has hired eight Austin lobbyist before the start of the legislative session in January.
The Best Opportunity
He and his wife have donated $4.5 million into the Republican Party campaigns for the state House in 2020 cycle.
Mark Lipparelli of the International Center for Gaming Regulation at the University of Nevada, Las Vegas, has said that all of the significant of the gambling industry would put Texas at the top of their wish list.
Also, Port Arthur Democrat, State Rep, Joe Deshotel sees the 87th Legislature as a chance to revisit casino gambling in Texas. “Now maybe the best opportunity that casino gambling has had in quite a while. Keep Texas money in Texas.”
A Chance for Texas
He has proposed a constitutional amendment to authorize casino gambling in Texas’ coastal areas. Similar attempts during the previous legislative sessions have failed, same as other casino legalization bills.
Certain costs of the expensive insurance for homeowners and businesses would be offset be the revenue taxes generated by the casinos, as well as helping in case of floods.
Also, every state that borders with Texas has at least one casino near the state line.
Deshotel says: “The issue is trying to cut the money leaving Texas in such large amounts that could be going into the coffers here and helping Texans who need help.”
Texas lawmakers will return to the capitol in January tasked with budgeting for the next biennium with a $4.6 billion shortfall. Proposals like legalizing marijuana and casino gambling present opportunities for new revenue, but have struggled to gain traction in the past.
What About Sports Betting?
Texas’ road to online and mobile sports betting legalization has also been a long and winding one…
…as in February last year it was reported that it could be introduced in 2020, but that hasn’t happened yet.
The original proposed bill would have allowed five state permits with each getting two skins, a 6.25% sports wagers tax collected on a monthly basis which would be paid by the operators that get approval.
The bill needed a two-thirds vote approval in the Texas House and Senate before being sent to public vote via referendum.
Source:
“Billionaire casino owner Sheldon Adelson eyes Texas—will legalized casinos be next?”, kxan.com, November 24th, 2020.
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I think it ridiculous that some politicians still oppose this. The money keeps leaving the state and for what. And now this pandemic disaster, it would be crazy to keep that up.