Indiana House discussing sports gambling today
The push is on to bring sports gambling to the state
In February, the Indiana Senate showed its overwhelming support for a casino expansion bill that would pave the way for more casinos in the state, as well as introduce sports gambling. There were a few items that had to be altered for the bill to gain acceptance, but it eventually won out and was sent over to the House of Representatives for that chamber’s input. The Ways and Means Committee reviewed the bill this past Tuesday, approving it after making even more changes, and the bill is headed to the full House for a vote today.
Senate Bill 552 saw the Ways and Means Committee sign off on it by a vote of 17 to 6. The bill now authorizes a tax rate of 9.5% on sports gambling revenue, as well as other tax changes on casino activity. For example, riverboats that earn less than $75 million on their adjusted gross receipts annually will only pay a 2.5% tax on the first $25 million, as opposed to the 5% previously in place. Additionally, those that earn more than $75 million will pay 10% on the first $25 million and the normal 15% on everything above that. The new structure will take effect at the beginning of July 2021.
Mobile sports and online gambling are not covered by the bill, but this could change before the legislation is approved. There is still some tweaking that is expected and some anticipate an attempt to push for sports gambling at veterans’ halls.