Alabama gaming legislation officially introduced in Montgomery

MONTGOMERY, Ala. (WBRC) – Alabama’s latest attempt to legalize gaming has been officially introduced in the state house. It would provide a way to regulate casinos, a lottery, and sports betting. The new legislation could legalize gaming and allow the state to make money in the gaming industry.

All gaming proceeds will go into the General Fund Budget Reserve until the fund reaches at least $300 million. Right now, the reserve fund is approximately $150 million. After it reaches $300 million, this is how the funds will be distributed:

-95% will go to the Gaming Trust Fund

-3% to the county commissions where the gaming establishment is located.

On the sports betting side, 90% of the revenue will go into the Gaming Trust Fund and 10% to each county commission to be used for law enforcement purposes for each sheriff’s department.

Representative Chris Blackshear (R-Phenix City), one of the sponsors of the legislation, says they want to build up budget reserves first before distributing the money elsewhere.

Lawmakers are also proposing that all lottery money goes into the Lottery for Education Fund. The lottery will also have a board of directors.

State leaders believe a lottery could generate $194 million. The proceeds could go to school security, scholarships for two-year community and technical colleges, and dual enrollment, among other things.

Blackshear says this legislation was created from the inside out and he believes that’s how this process should always work.

“Just know a lot of calls will start coming in because a lot of the outside groups are finally getting to see the bill for the very first time which I think is the way it needs to be. We are the elected officials. We are the ones that draft the legislation, and we are the ones that are responsible for it and responsible to the people,” Blackshear said.

Here’s a look at the revenue projections from this legislation:

-Casinos: $298 million – $422 million

-Sports Betting: $10 million

-Lottery: $194 million

-Compact: $300 million

-TOTAL: $802 million – $1.011 billion

It’s important to note, both the bills that lawmakers are proposing would have to be approved by state lawmakers and only then you will have your opportunity to vote on gaming on the November ballot.

It would also establish a gaming commission and an enforcement division of that commission.

“We will hire investigators, auditors, and everything else that we need to do, accountants. We will specifically focus on gaming in Alabama. It will not be a part of ALEA. It will not be a part of the AG’s office. It will be underneath the gaming commission,” said Blackshear.

You can read both bills in their entirety below:

Get news alerts in the Apple App Store and Google Play Store or subscribe to our email newsletter here.

Copyright 2024 WBRC. All rights reserved.