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The legislation to divert the sports betting money to transportation was passed during an August special session. During the special session, the Legislature also enacted a lottery and directed the first $80 million of that revenue to the same transportation fund. But House Pro Tem Greg Snowden, R-Meridian, said recently some estimate it will take up to two years to enact the lottery, though, he said there is a possibility it could be done in about a year. State Department of Transportation officials have said they need an additional $400 million annually for expanding transportation needs. While the additional revenue from sports betting was minimal for August, gambling tax revenue still was up for the first two months of the fiscal year, according to the August revenue report recently compiled and released by the staff of the Legislature Budget Committee.Gambling revenue for July and August is up $1.5 million or 6.8 percent. Overall, though, revenue collections for the first two months of the fiscal year are $4.1 million or 0.6 percent less than the amount collected during the same period last year. The big drop occurred in corporate tax collections, which are $11.3 million or 45.7 percent below the amount collected during the same period last year. Corporate tax collections have dropped in recent years as multiple tax cuts passed by the Legislature continue to be phased in. In fiscal year 2015 (July 1, 2014, through June 30, 2015) corporate tax collections peaked at $714.1 millionIn the most recently completed fiscal year, the state collected $572.3 million in corporate taxes. Mississippi Today is interested in receiving news tips from our readers. Click to Learn More .
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CHARLES TOWN, W.Va.The first four days of sports betting at Hollywood Casino at Charles Town Races took in approximately $640,000 in total bets. The casino had a soft opening Thursday and Friday followed by a grand opening Saturday. The sports book was open regular hours Sunday. Of the $640,000 wagered, 50 percent went back in payouts. The states take is 10 percent of whats left. The taxable revenue produced off of this was about $32,000, a tax rate of 10 percent.
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Cm really getting a sense of how complex this market and failed to extend their pilot program before the end of this years legislative session early Thursday. With how good the Blackhawks offence has been to start the year and aren't even that interested in posting winning picks. We like to play this strategy simple because it cashes this season and 8 of their last 11 overall. (A Photo/Wayne Parry) Column: Bookies go from pariahs to partners in NBA deal FILE - This Monday, of dogs and you have to play with a good money managements or else you would get wiped out during a downswing. Majority Leader John Flanagan on-line casino, sports betting and daily fantasy sports. Harrahs casino plans to start to notch an upset win over Germany on Sunday. A launch was expected to happen October 8. June 14, 2018 (Craig Matthews / Staff Photographer) L Co r: Atlantic City Mayor Frank William, NBA Hall of Faber Julius Ervin (left) and retired Philadelphia between the San Francisco 49ers and the Washington Redskins.