Texas Business Report: Lege Your Bets

Some think the state should lessen its 14 percent tax on mixed drinks for bars that present live music more than four times a week.
Fri March 29, 2013 3:00 pm

Lege Your Bets
Texas lawmakers are considering a constitutional amendment that would pave the way for casino resorts in several cities, potentially generating as much as $50 billion in new revenue for the state. The Austin Business Journal reports the proposed bill would do this by “creating the Texas Gaming Commission and authorizing and regulating the operation of casino games and slot machines by a limited number of licensed operators and certain Indian tribes.”

Specifically, the measure would authorize three resorts in Dallas, Fort Worth and San Antonio, and three smaller casinos in Corpus Christi, Galveston and South Padre Island, according to the ABJ. The $50 billion economic windfall would come in the form of development, tax revenues, and about 100,000 new jobs.

The Bottom Line: Legalizing casinos is a perennial issue in the legislature, and previous bids have failed due to concerns over crime, gambling addiction and financial issues. But public support seems to be gradually rising: A recent

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