FISCAL NOTE
Date Requested: January 10, 2018
Time Requested: 02:51 PM |
| Agency: |
Lottery Commission, WV |
|---|
| CBD Number: |
Version: |
Bill Number: |
Resolution Number: |
| 1358 |
Introduced |
SB106 |
|
|---|
| CBD Subject: |
Legal Gaming |
|---|
|
FUND(S):
Sports Betting Revenue Fund
Sources of Revenue:
Special Fund
Legislation creates:
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
Summarize in a clear and concise manner what impact this measure will have on costs and revenues of state government.
The implementation of this new gaming program (Sports Betting) is contingent upon removal of federal restrictions on state operated sports wagering, however, new revenue will be generated for the state at the time such restrictions are no longer in place.
Because of the broad scope of this bill, the Lottery is unable to derive a fiscal note or projected revenue expectations due to the number of variables that will impact revenues generated from Sports Betting in West Virginia. Additionally, it is unclear how many facilities would be authorized, and how such determination would be made based on the provisions of the bill. The legislative findings indicate that the bill is intended to benefit existing casino gaming facilities, however, no further language defining this requirement is included.
Fiscal Note Detail
| Effect of Proposal |
Fiscal Year |
2018
Increase/Decrease
(use"-") |
2019
Increase/Decrease
(use"-") |
Fiscal Year
(Upon Full
Implementation) |
| 1. Estmated Total Cost |
0 |
0 |
0 |
| Personal Services |
0 |
0 |
0 |
| Current Expenses |
0 |
0 |
0 |
| Repairs and Alterations |
0 |
0 |
0 |
| Assets |
0 |
0 |
0 |
| Other |
0 |
0 |
0 |
| 2. Estimated Total Revenues |
0 |
0 |
0 |
Explanation of above estimates (including long-range effect):
As stated above, the Lottery is unable to derive revenue estimates for this bill at this time, due to the broad scope of the bill as well as the number of variables that must be factored into a revenue estimate for sports betting in West Virginia such as, for example, the number of border states with legal sports betting at the time the federal ban is lifted.
Memorandum
Please identify any areas of vagueness, technical defects, reasons a bill would not have a fiscal impact, and/or any special issues not captured elsewhere on this form.
As stated above, the number of gaming facilities that will be licensed to conduct sports betting and whether such facilities will be limited to existing licensed racetrack casinos and historic resort hotel casino without greater definition.
The WV Lottery has been working with an industry expert to complete a study on the revenue potential and economic impact of sports betting in West Virginia that will include recommended regulatory models to create the most successful program and maximize revenue opportunities, however, the final report has not been completed at this time.
Person submitting Fiscal Note: Danielle Boyd, Managing General Counsel
Email Address: dboyd@wvlottery.com