What in the Sam Hill is “electronic charitable gambling”?
video poker, slots, etc.
The charitable gambling financial assumptions are bogus.
Several State Sens and Reps have questioned them, and Goldman Sachs and other banks have refused to underwrite the bonds unless they are appropriations bonds not directly tied to the charitable gambling revenue.
In 2005, charitable gambling gross proceeds topped out at $1.5 billion. They have been on the decline ever since, and were actually sub $1 billion last year.
The new assumptions in the stadium bill call for them to increase immediately to $2.7 billion and grow from there over the next 30 years.
???
The only state that has tried these in the past (IA) saw them fail to increase charitable gambling in any significant way.