Colorado voters have overwhelmingly supported Proposition JJ, a landmark initiative that channels the full revenue from sports betting taxes into critical water-related projects. The measure passed with an impressive 76% approval, lifting a prior cap on state-retained sports betting revenue and allowing Colorado to retain every dollar collected.
Background on Proposition JJ and Colorado’s Sports Betting Revenue
Since legalizing sports betting through Proposition DD in 2019, Colorado has imposed a 10% tax on sportsbook revenues. Although the tax has brought in close to $80 million since 2020, any revenue beyond a $29 million cap was previously returned to betting operators. With the approval of Proposition JJ, Colorado can now invest this entire revenue stream into pressing water needs across the state.
“This is a pivotal day for Colorado’s water future,” said State Senator Dylan Roberts, co-sponsor of the measure. “The people of Colorado have made it clear they believe in supporting water projects that benefit us all.”
Projected Funding for Water Projects
Without Proposition JJ, projected sports betting revenues would have resulted in a surplus of $1.2 million in 2024-25 and $2.5 million the following year. Now, with no cap in place, Colorado can direct these funds to essential projects focused on water storage, habitat protection, and conservation.
The Colorado Water Conservation Board estimates a need for $3.85 billion over the next 30 years to support these initiatives, leaving a $1.5 billion funding gap. Proposition JJ aims to bridge some of this gap, allowing more flexibility to meet immediate water conservation needs.
“This additional funding is crucial, though it won’t meet all demands,” said Cole Bedford, Chief Operating Officer at the Colorado Water Conservation Board. “Our grant program is extremely competitive, often leaving valuable projects unfunded.”
Widespread Support and Impact on Local Projects
Water providers across Colorado, including Denver Water and the Colorado River Water Conservation District, have expressed strong support for the measure. For southwestern Colorado, new funds could expedite several ready-to-launch projects, according to Steve Wolff, General Manager of the Southwestern Water Conservation District.
In the Arkansas River Basin, this funding could also support large-scale initiatives, such as the $1.4 billion Arkansas Valley Conduit, which aims to deliver drinking water to numerous communities east of Pueblo.
Revenue Boosts from Colorado’s Growing Sports Betting Market
Sports betting in Colorado continues to surge, particularly during high-demand seasons like football. In September 2024, sportsbooks reported a record $563 million in wagers, with football and parlays accounting for a significant portion. This marked a 10% increase in bets from the previous year, underscoring the growing demand and promising further resources for Colorado’s water projects.
Colorado’s decision to harness sports betting revenue for water conservation highlights a pragmatic approach to funding critical infrastructure. Proposition JJ represents a step forward in securing Colorado’s water future through the state’s evolving betting industry.
With Donald Trump decisively winning the U.S. presidential election, the early hours brought a burst of excitement to many. Yet, his victory wasn’t the only major decision American voters made. Across the nation, citizens faced numerous high-stakes issues—from Senate and House races to pivotal questions about reproductive rights and, in several key states, decisions about gambling expansion.
The gambling industry, naturally, had its eye on several ballots where voters were set to decide on sports betting and online gaming reforms.
Missouri’s Major Move
One of the biggest pieces of gambling news this election came from Missouri. Voters in the “Show-Me” state narrowly passed Missouri Constitutional Amendment 2, paving the way for both retail and online sports betting. By a slim margin of around 13,000 votes, citizens approved a system allowing 20 retail betting sites and 22 sports betting platforms, with licenses split between local casinos, professional sports teams, and standalone online operators.
Missouri’s favorable 10 percent tax rate on sports betting revenue is expected to generate substantial funds for education and responsible gambling programs. With new laws set to take effect 30 days post-election, legal sports betting could be live in Missouri by early December.
Not all measures passed, however. Voters rejected Amendment 5, which would have authorized a new riverboat casino on the Osage River, with 52 percent voting against it.
Virginia’s New Casino Approval
Virginia also saw significant movement. Voters in Petersburg overwhelmingly approved the construction of a new casino, making it the fifth land-based casino in the state. The new project, led by Cordish Group, is anticipated to be a $1.4 billion investment, a testament to Petersburg’s enthusiasm, with 81 percent of voters backing the plan.
The state originally approved five casinos in 2020, but Richmond’s repeated rejections shifted the opportunity to Petersburg. Cordish Group, known for its Live! Casinos in several states, has historically opposed online gaming, so their presence in Virginia could influence the state’s iGaming landscape.
Arkansas’ Paradox
Arkansas presented a unique case with Issue 2, which initially seemed like a win for gambling enthusiasts. However, instead of expanding gaming, Issue 2 actually revoked prior approval for a new casino in Pope County. Going forward, any new casinos in Arkansas will require direct approval from local voters.
Colorado’s Proposition JJ
Colorado voters weighed in on Proposition JJ, a measure that would redirect gambling tax revenue. Since legalizing sports betting in 2019, Colorado has used a portion of its tax revenue for water conservation efforts. Proposition JJ asked voters to allow the state to keep and use all gambling taxes for environmental projects, instead of issuing refunds to casinos.
With over 75 percent of voters in favor, the initiative passed, giving a boost to Colorado’s conservation programs without raising new taxes.
Looking Ahead
As final counts wrap up, the gambling industry awaits results from Virginia, Arkansas, and Colorado to understand the full impact of this election on state-level gambling reforms. For now, Trump’s win may have dominated headlines, but the shifts in gambling laws across the nation are setting up an equally transformative future in the industry.
New York City is at the heart of a fierce competition as two of the city’s most influential figures, Steve Cohen and Jay-Z, propose multi-billion-dollar casino projects. Both developments promise to inject substantial investments into the local economy, but they also face challenges as community concerns and political hurdles stand in their way.
Steve Cohen’s Vision for a Queens Entertainment Hub
Mets owner Steve Cohen has set his sights on transforming a 50-acre area near Citi Field in Queens into a massive entertainment hub. His ambitious Metropolitan Park project, which includes a new casino, aims to turn underutilized parking space into a bustling destination with parks, restaurants, shopping areas, and more. At the heart of the development lies a proposed casino to be managed by Hard Rock Entertainment as Cohen looks to secure one of New York’s limited casino licenses.
The project, estimated to pump $8 billion into the local economy, promises to bring over 23,000 jobs and revitalize the Willets Point area, long known for its autobody shops and scrapyards. Beyond gaming, Cohen’s plans include 20 acres of public parks, five acres of sports fields, and significant infrastructure improvements, such as enhancements to the Mets-Willets Point 7 train station, roads, and bike paths. Additionally, a “Taste of Queens” food hall and a live music venue are planned to showcase local culture.
However, the development is not without its challenges. A key issue lies in the site’s designation as parkland, requiring a state bill to “alienate” the land for commercial use. While Cohen has garnered significant support from local politicians, unions, and community groups, he faces opposition from figures like state Sen. Jessica Ramos, who has voiced her constituents’ concerns about introducing a casino to the area. Despite this, Cohen’s team remains optimistic, asserting they have ample time and support to push the project forward.
Jay-Z’s Bid for a Times Square Casino
Meanwhile, Jay-Z, through his entertainment company Roc Nation, is leading the charge to bring a casino to Times Square. Partnering with Caesars Entertainment and SL Green, Jay-Z’s proposed Caesars Palace casino aims to become a central attraction in one of the world’s most iconic districts. To win over skeptics and secure a coveted gaming license, Jay-Z has pledged a whopping $250 million in community grants to Hell’s Kitchen and the surrounding neighborhoods.
This community-driven approach begins with an immediate $15 million investment and ongoing contributions tied to 0.5% of the casino’s revenue. The funds will be managed by a community trust, ensuring that the money supports local improvements, such as childcare programs, job training, and after-school activities. Jay-Z emphasized the long-term vision of his proposal, stating, “Our vision is to give back to New York and ensure that Broadway, Hell’s Kitchen, and surrounding businesses all benefit—not just for a minute, but for the long term.”
Despite the financial promises, the Times Square casino project has encountered resistance. Local groups, including the Broadway League and the No Times Square Casino Coalition, argue that introducing a casino in such a densely populated area could negatively impact residents and the theater community. A poll conducted by the coalition found that 71% of Midtown residents oppose the casino.
In response, Roc Nation has engaged directly with the community, holding meetings with residents of nearby Manhattan Plaza, a well-known affordable housing complex for artists. To ease concerns, Roc Nation’s CEO Desiree Perez and former NYPD Commissioner Bill Bratton outlined security plans and the long-term benefits of the casino, offering $15 million in funding for the tenants’ association and an ongoing share of casino profits to support local initiatives.
The Race for New York’s Casino Licenses
Both Steve Cohen’s Queens project and Jay-Z’s Times Square proposal are competing for one of only three downstate casino licenses being issued by New York State. The competition is fierce, with other bids coming from high-profile entities, including Saks Fifth Avenue, Wynn Resorts, and Mohegan Sun. Each proposal must navigate a minefield of community concerns, political negotiations, and stiff competition, all while promising to bring substantial economic benefits to New York City.
As these casino giants battle for the state’s approval, only time will tell which project—if any—will come to life. One thing is certain: whichever project succeeds will dramatically reshape its respective corner of New York City, for better or worse.
Record-Breaking Year for Virginia Lottery with Online Sales Taking the Lead
Historic Milestone for Virginia Lottery
In an unprecedented shift, the Virginia Lottery has become the first in the United States to generate more revenue from online ticket sales than from in-person purchases during a fiscal year. The fiscal year ending on June 30, 2024, saw total lottery ticket sales reach an all-time high of $5.521 billion, marking a nearly 20% increase from the previous year’s $4.612 billion.
Lottery officials revealed that over $3 billion of these sales came from online transactions, while approximately $2.45 billion were generated through traditional brick-and-mortar retailers. The Virginia Lottery, which launched its internet games and ticket sales on July 1, 2020, has seen steady growth in its online segment, culminating in this record-setting performance.
A Growing Trend in Online Lottery Sales
Virginia’s success in the online lottery market is not an isolated case, as online lottery gaming is currently legal in nine states across the U.S., including Georgia, Illinois, Kentucky, Michigan, New Hampshire, North Dakota, North Carolina, Pennsylvania, and Virginia. The District of Columbia also allows iLottery, and Massachusetts is preparing to launch its online lottery operations next year.
John Hagerty, a spokesperson for the Virginia Lottery, noted that while the surge in online sales might raise concerns among lottery retailers, in-person sales have continued to grow alongside the digital expansion. The state currently has around 5,300 businesses acting as lottery retailers.
Lottery Profits Fuel Public Education
The Virginia Lottery plays a crucial role in funding public education, contributing approximately $2.3 million per day to K-12 schools. Since its inception in 1999, the lottery has generated over $13.6 billion in profits, all of which have been directed towards supporting primary and secondary education in the state.
Virginia Governor Glenn Youngkin praised the lottery’s latest fiscal performance, highlighting its impact on education. “Over the course of my administration, we have been able to achieve record funding for K-12 education, allowing for increased opportunities in the classroom,” Youngkin said. “I am thrilled that these record profits will provide the necessary support and resources for Virginia’s students.”
In the 2024 fiscal year alone, the lottery’s $5.5 billion in game sales resulted in a record profit of more than $934 million, with about 10% of the state’s K-12 education budget coming from lottery revenues.
$1 Million Lottery Win Sparks New Beginnings
In other lottery news, a Virginia Lottery player from Prince William County won $1 million in the Cash4Life drawing on August 3. The lucky winner, an avid lottery player, matched the five white numbers drawn, securing his choice between $1,000 a week for life or a one-time lump sum of $1 million.
Opting for the lump sum, the winner generously gifted the money to his son, Aaron Andrews, who had been living in his father’s basement with his wife since their wedding in April. “This was the best way to get him out of the basement,” the winner joked.
After federal and state taxes, Aaron Andrews will take home approximately $572,500, marking a significant step towards a new chapter for the young couple.
The U.S. commercial gaming industry has achieved an unprecedented milestone, with revenues soaring to $17.63 billion in the second quarter of 2024. This record-setting performance, reported by the American Gaming Association (AGA) through its Commercial Gaming Revenue Tracker, marks the 14th consecutive quarter of year-over-year growth and the highest Q2 earnings on record.
Broad-Based Growth Across Gaming Sectors
Gaming revenue witnessed growth across multiple sectors and regions, with 24 jurisdictions reporting increases compared to the previous year. This remarkable performance generated $3.73 billion in state taxes, underscoring the sector’s significant contribution to local economies.
Breaking down the revenue sources, land-based gaming remained the dominant force, accounting for 71.4% of total revenue, while online gaming captured 28.6%. Although online gaming’s growth rate slowed from 44% in Q2 2023 to 32.5% in Q2 2024, it remains a substantial contributor to the industry’s overall expansion.
The brick-and-mortar casino sector saw a modest 1.8% increase year-over-year, bringing in $12.49 billion. This growth was particularly strong in the latter part of the quarter, buoyed by new property openings in states like Illinois, Nebraska, and Virginia.
Meanwhile, the sports betting sector experienced an impressive surge, with a total of $31.75 billion wagered by Americans. This activity generated $3.16 billion in revenue, marking a 35.3% increase from the previous year. New market entries in states such as Kentucky and Maine played a key role in this growth.
iGaming also saw significant gains, with revenue reaching $1.98 billion—a 26.1% year-over-year increase. Rhode Island’s market debut in March notably contributed to this upward trend.
Industry Impact and Economic Contributions
The AGA’s Commercial Gaming Revenue Tracker provides valuable insights into the financial health of the U.S. gaming industry, offering state-by-state and cumulative data based on state revenue reports. The analysis spans 37 states and the District of Columbia, all of which had operational commercial gaming markets as of Q1 2024.
As the national representative body for the U.S. casino industry, the AGA plays a vital role in shaping a favorable regulatory environment for legal, regulated gaming. With a diverse membership that includes commercial and tribal casino operators, sports betting and iGaming companies, and gaming suppliers, the AGA supports an industry that contributes $329 billion to the U.S. economy and provides 1.8 million jobs nationwide.
Conclusion: The Link Between Revenue Growth and Online Gambling
The record-breaking revenue figures in Q2 2024 highlight the critical role online gambling continues to play in the gaming industry’s overall success. As more states embrace the digital gaming space, the sector’s growth trajectory shows no signs of slowing down. Whether you’re a seasoned player or new to the scene, the ongoing expansion of legal online gambling platforms offers numerous opportunities for entertainment and potential winnings.
