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Sunday, April 21, 2024

Roll The Dice

On May 8, 2019, Indiana Gov. Eric Holcomb signed into law House Bill 1015 — a bill set to bring about the most sweeping changes to gambling in the state starting Sept. 1. Economically, the state will receive a boost from the authorization of sports wagering, which will come with a 9.5-percent tax rate.

Another part of the law concerns the movement of gaming licenses, specifically addressing casinos in Gary and Terre Haute, Indiana. With the provision, Majestic Star Casino in Gary would relocate one of its two gaming licenses to a land-based location in the city, freeing up its second license. This license could be relocated to Terre Haute, pending a public referendum to approve the casino.

Should the casino be approved, HB 1015 includes hold harmless provisions to be paid to cities affected by the Terre Haute casino. This includes Evansville, which will receive temporary payments beginning with $1.2 million in the casino’s first year of operation and then tapering off over a three-year period.

To read more on all the aspects of House Bill 1015, visit iga.in.gov/legislative/2019/bills/house/1015.

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