Colorado Gaming Tax distributions of $148.6 million from the 2021-22 fiscal year were approved at August’s meeting of the Colorado Limited Gaming Control Commission (CLGCC). This marks a 39% increase in the distribution from the previous fiscal year.
The distribution was helped by a 34% increase in taxes, or $41.5 million, from the previous year. This increase was due to the implementation of Amendment 77 in May, 2021. The amendment allowed Black Hawk, Cripple Creek, and Central City residents to vote on their local casinos’ bet limits and game additions of Keno and baccarat.
Where the Tax Distributions Went
The distribution of these taxes are from the Limited Gaming Fund and the Extended Gaming funds. The funds supports a variety of state initiatives, including:
- 50% to the state share, which supports tourism, industry advancement, local governments, higher education, and more.
- 28% to the Colorado State Historical Fund, which is broken down between the governing bodies of casino towns.
- 22% to the counties of casino towns to support the towns and Colorado Community College System.
The Historical Society and gaming towns received $101.8 million in distributions, which is 18% higher than the previous year. The Community College System received $46.8 million, which is a significant 165% higher than the previous year.
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Future Tax Distributions
The rest of the 2021-22 tax distributions from the Sports Betting Cash Fund will be distributed in the CLGCC’s next meeting on Sept. 15, 2022 in Cripple Creek. The funds from The Responsible Gaming Grant Program passed in June of this year will become available after the 2022-2023 fiscal year to be distributed to responsible gaming initiatives and the Colorado Water Plan.