The legalization and taxation of gambling activities may help fill in budget gaps, Sen. Glenn Wakai recently revealed
Late last month, we reported that Hawaii will likely make another push for legalizing gambling this year. There are several proposals calling for the legalization of gambling in the state, namely, SB1569 and its twin bill HB1308.
Separately, a proposal calling for the legalization of poker, casino games and lottery, SB1507, is also proposing to bring legal gambling to Hawaii residents. On Sunday, Sen. Glenn Wakai, one of the proponents of gambling legalization, spoke about the vital revenue the activity may bring.
Gambling Legalization May Help Fill In State Money Gaps
The Senator was interviewed by KHON2, highlighting that more people are interested in betting than ever. In Wakai’s own words: “Today is the biggest gambling day of the entire year. People are doing parlay sheets. They’re betting galore today.” The Senator went on to question why Hawaii wouldn’t legalize gambling, implement taxes and benefit from all gambling that is already taking place.
On Facebook, Wakai focused on the financial implications that may follow after Donald Trump became President. The Senator wrote that under Trump’s administration, billions in military spending may be cut, but the Department of Education would also be affected.
According to Wakai, Hawaii needs to find new revenue streams to fill new gaps. The Senator spoke against raising taxes, which is why he explained the legalization of gambling may bring much-needed fresh revenue that can offset budget gaps.
“President Trump is dismantling the Dept of Education and will cut billions from military spending. Hawaii will need to start filling in the gaps. I refuse to raise taxes. Instead, I am going to roll the dice.“
Sen. Glenn Wakai
Taxes on Gambling to Benefit Education, Treat Problem Gambling
For years, Hawaii residents traveled to Las Vegas, Nevada, to enjoy a range of gambling activities. Casino traveling has become such a frequent event that Sen. Wakai even mentioned a popular joke that Las Vegas is “the Ninth Island.” Speaking about the legalization of gambling, he said that instead of seeing people travel, Hawaii seeks to deliver legal gambling to the people, in a move that will benefit the state by generating revenues.
Per the proposal supported by Wakai, the Hawaii Convention Center and the New Aloha Stadium Entertainment District would secure 20-year licenses for casino gambling. The state would also develop its own gambling regulator, the Hawaii Gaming Control Commission.
The aforementioned Commission will be in charge of regulating the activity. The proposal calls for the implementation of a 15% tax rate on gross gaming revenue. Similar to other states, the proposal in Hawaii calls for setting aside part of the gambling tax revenue for the treatment of problem gambling. Still, a major part of the gambling taxes would benefit education programs across the state.
