Funding for water in Colorado is seeing a surge, despite the state budget crisis, with cash from sports betting hitting a new high this year.
The gaming initiative brought in $37 million for the fiscal year that ended June 30, according to the Colorado Division of Gaming. That represents a nearly 21% increase from last year, when tax revenue came in at $30.4 million. But water projects statewide still are at risk as the legislature gears up for a special session next week to close a new $1 billion gap in Colorado’s budget.
Approved by voters in 2019, the sports betting tax is used to fund Colorado’s Water Plan.
Back then, early legislative forecasts for revenues that might flow from the program topped out at $29 million.
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