SB 769 Summary

• Authorizes one stand-alone casino facility in Waikiki (mauka of Kalakaua Avenue), not located within a hotel, with a 20-year renewable license.

• Establishes the Hawaii Gaming Control Commission with five appointed members to regulate casino gaming, license suppliers and occupational workers, and conduct background investigations.

• Imposes a 15% wagering tax on gross receipts from casino gaming in lieu of most other state taxes, with revenues deposited to the general fund; 1-2% retained for compulsive gambling programs and commission administrative expenses.

• Requires casino licensee to pay a $1,000,000 nonrefundable application fee, $200,000 bond, and a one-time $150,000,000 license issuance fee ($75 million upfront, $75 million one year later, creditable against wagering taxes over 10 years).

• Appropriates $5,000,000 for fiscal year 2014-2015 to fund the commission's operations, to be reimbursed by the casino licensee upon opening, with the applicant fee credited against this amount and the reimbursement credited against wagering taxes.