Rhode Island Gov. Gina Raimondo’s newly released, $9.4 billion state budget plan is counting on sports betting revenue to help balance the state’s books. Additional funds are also being sought through cuts in Medicaid programs and increasing access to medical marijuana.
The budget would authorize sports betting at the Twin River casinos, if the U.S. Supreme Court legalizes it. The administration expects $23.5 million in revenue during the fiscal year from sports betting, if it can start on Oct. 1st.
The legislature will review the proposals and present its plan before the 2019 fiscal year begins in July.
The Democratic governor endorses a budget, about 1.5 percent higher than last year’s enacted budget, through which the state hopes to close an estimated $204 million deficit.
Raimondo’s budget plan seeks to raise taxes on tobacco products and begin taxing cloud-based software services, such as iCloud storage. The tax doesn’t include streaming services, such as Netflix.
The U.S. Supreme Court is expected to rule on New Jersey’s challenge to the federal ban on single-team sports wagering in every state except Nevada.