Hawaii's legislature is moving towards legalizing online sports betting, with a bill approved by the state senate. This follows a similar measure passed by the House. The legislation aims to generate revenue amid financial difficulties exacerbated by federal circumstances. The bill would permit four online gaming operators, set a tax rate of 10%, and introduce a licensing fee. The Department of Law Enforcement is designated to regulate these operators. Governor Josh Green supports the initiative to fund the new Aloha Stadium project, highlighting the potential economic benefits of legalized gambling in the state.
"We need this revenue because of what we are facing in the state of Hawaii from this unprecedented disaster in Washington D.C.," Sen. Angus McKelvey said in supporting the measure. "It's not just the blatant up-front cuts, it's the inflation. It's the tariff wars. Screws, right now, have gone up 70%."
Senators ultimately approved the Department of Law Enforcement to regulate sports betting operators. The department won't have much time to prepare as the bill would go into effect on July 1.
"That is the one way to immediately guarantee you could build an $800 million stadium, and it would be an attraction," he recently told Hawaii News Now.
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