The resolution proposes a constitutional amendment to authorize casino gaming at destination resorts and sports wagering in Texas, aiming to stimulate economic development and job growth. It establishes the Texas Gaming Commission to regulate these activities, requiring licenses for casino operations and imposing a 15% tax on gross casino gaming revenue and sports wagering. The resolution emphasizes that the decision to permit casino gaming should be made by Texas voters, ensuring that any approved gaming activities are strictly regulated to protect the public interest, particularly in areas where pari-mutuel wagering is already allowed.
Furthermore, the resolution outlines specific requirements for applicants seeking casino licenses, including substantial investment commitments for developing destination resorts in designated metropolitan areas. It aims to revitalize the horse racing industry and allocate tax revenue to education and public safety programs. The amendment prohibits the use of public funds for the development or operation of these resorts and mandates that the legislature set regulations for licensing and gaming activities. The proposed amendment will be presented to voters in an election scheduled for November 4, 2025, allowing them to decide on the future of casino gaming and sports wagering in Texas.