{"id":102507,"date":"2019-04-10T11:33:38","date_gmt":"2019-04-10T18:33:38","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=102507"},"modified":"2019-04-10T11:33:38","modified_gmt":"2019-04-10T18:33:38","slug":"indiana-legislative-committee-takes-on-gambling-expansion","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/indiana-legislative-committee-takes-on-gambling-expansion\/","title":{"rendered":"Indiana Legislative Committee Takes on Gambling Expansion, Full House To Consider Bill on Thursday"},"content":{"rendered":"

In Indiana, a\u00a0far-reaching gambling bill will hit the House of Representatives on Thursday for a vote. Already heavily amended by the Ways and Means Committee, the bill now includes a 9.5 percent tax on sports betting revenue and provides a new casino license for the Terre Haute area.<\/span><\/p>\n

\"\"
State Rep. Peggy Mayfield (R-60) backs changes found in a current Indiana gambling bill. It’s scheduled for a vote by the full House on Thursday. (Image: NUVO.net)<\/figcaption><\/figure>\n

The updated Senate Bill 552 was backed by a 17-to-6 vote on Tuesday, and as legislators initially approved the brand-new tax on adjusted gross receipts, it leads the way for sports wagering on likely both professional and college athletics.<\/span><\/p>\n

\n

Rep. Peggy Mayfield (R-60) told Casino.org<\/i> it will be up to casinos, racinos or any new sports betting operation whether to apply for a license in the Hoosier State, and \u201csome casinos may choose to not even do it\u201d given the low margins.<\/span><\/p>\n

The sports betting license alone will cost $100,000, and the state\u2019s total cut <\/span>is projected to be $12 million a year<\/span>.<\/span><\/span><\/p>\n<\/div>\n

The committee also approved requiring 3.3 percent of the sports wagering cut to go for problem gambling services.<\/span><\/p>\n

Also, the committee excluded adding any mobile or online sports betting to the land-based option.<\/span><\/p>\n

More Competition<\/h2>\n

The committee additionally approved allowing for a brand-new casino license in Vigo County<\/a> — mostly likely in Terre Haute — though it still will need to be approved by a local vote.<\/span><\/p>\n

Mayfield said the Terre Haute casino licensing process is \u201cmuch more of a competitive bid.\u201d<\/span><\/p>\n

Previously, any gaming venue in that region required reassigning one of two licenses now used for a casino in Gary\u2019s Buffington Harbor.\u00a0 <\/span>Other operators would have had to bid against current venue owner Spectacle Entertainment<\/a>. <\/span><\/p>\n

\n

Now, Spectacle could keep both casinos at the harbor, or relocate one to a land-based location, which would require the company to pay a $50 million fee to the state — down from $100 million — and forfeit the second license.<\/span><\/p>\n<\/div>\n

The new version of the bill also allows Spectacle to have as many as 2,764 gaming seats in the possible Gary brick-and-mortar venue, located near a highway exit. It combined the number of seats they are allowed under two licenses and merged them in one large casino, officials explained. <\/span><\/p>\n

In theory, Spectacle even could keep its two water-based casinos and bid on the proposed new license for Terre Haute.<\/span><\/p>\n

A local committee will solicit proposals for casinos in the Terre Haute area and identify the best three. Each of the finalists then bids, with the minimum set at $25 million.<\/span><\/p>\n

Currently, there are 11 Indiana commercial casinos either on land or water. There are also two racinos — which will now be able to have live dealers under the current bill.<\/span><\/p>\n

Indiana Tax Rates Changed<\/h2>\n

The legislators additionally adjusted tax rates charged on adjusted gross receipts (AGR). When it comes to distressed riverboats, which are those that earn $75 million or less in AGR, on the initial $25 million, the tax rate will be reduced from 5 percent to 2.5 percent.<\/span><\/p>\n

For those casinos that make over $75 million, on the initial $25 million, the tax rate will be lowered from 15 to 10 percent. These new rates, if approved, will take effect on July 1, 2021.<\/span><\/p>\n

The bill also removed an earlier cap of two licenses per operator.<\/span><\/p>\n

House members may choose to further amend the bill before voting. The Senate already approved a version of the bill but because the two are different — the legislation will likely be sent back to the Senate for a second vote and\/or a conference committee to iron out differences between the two versions.<\/span><\/p>\n

One lingering concern is having one large casino with in Gary that could crush the competition. Some other casino operators may find it unfair, sources said.<\/span><\/p>\n

We have allowed more consolidation in the industry than I expected,\u201d <\/strong>Rep. Ed Delaney (D-<\/span>86)<\/span>\u00a0a retired attorney, told Casino.org<\/i>.<\/span><\/p>\n

State Says What’s Ours Is Ours<\/h2>\n

Rep. Mayfield also expects there may be attempts by legislators to approve mobile sports wagering and possibly some other last-minute changes such as allowing sports betting at veterans\u2019 halls.<\/span><\/p>\n

\u201cI still think it\u2019s going to get tweaked,\u201d she said.<\/span><\/p>\n

She points out that Indiana had a \u201cstable\u201d and \u201cpredictable\u201d gaming industry, and \u201cwe didn\u2019t want to upset that much.\u201d<\/span><\/p>\n

\n

When it comes to the licenses, some legislators contend they belong to the state, such as the one that Spectacle may be forced to forfeit.<\/span><\/strong><\/span><\/p>\n

“It\u2019s our license, we don\u2019t need to buy it back,\u201d <\/span><\/strong>Delaney said.<\/span><\/span><\/p>\n<\/blockquote>\n

Gary Mayor Karen Freeman-Wilson — a Democrat who is the state\u2019s former attorney general — told Casino.org <\/i>she was \u201c<\/span>pleased \u2026 the bill is advancing through the House. While we look forward to new casino development on the Borman Expressway, we are focused on the opportunity to develop an [transportation and shipping] facility at Buffington Harbor thanks to the vacating of that area by the casino.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

In Indiana, a\u00a0far-reaching gambling bill will hit the House of Representatives on Thursday for a vote. Already heavily amended by the Ways and Means Committee, the bill now includes a 9.5 percent tax on sports betting revenue and provides a new casino license for the Terre Haute area. The updated Senate Bill 552 was backed […]<\/p>\n","protected":false},"author":44,"featured_media":102509,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13,1074],"tags":[],"acf":[],"yoast_head":"\nIndiana Legislative Committee Takes on Gambling Expansion<\/title>\n<meta name=\"description\" content=\"The Indiana House of Representatives is to vote Thursday on a gambling bill that was amended by the Ways and Means Committee, and now includes a 9.5 percent tax on sports betting revenue. It also provides a new casino license for the Terre Haute area.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Indiana Legislative Committee Takes on Gambling Expansion\" \/>\n<meta property=\"og:description\" content=\"The Indiana House of Representatives is to vote Thursday on a gambling bill that was amended by the Ways and Means Committee, and now includes a 9.5 percent tax on sports betting revenue. 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