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Higher Ed in the News

New gaming revenue for community colleges falling short of projections

December 20, 2009

The 2008 ballot measure that eased gambling regulations was touted as a way to supplement the dwindling budgets of the state's community colleges.

Much of the additional tax revenue generated from higher bet limits, 24-hour gambling, and new table games is slated to go to Colorado's community colleges -- originally estimated to be $29 million during the first year and $222 million over five years.

More than five months after the gambling changes took effect in July, Nancy McCallin, president of the Colorado Community College System, says community colleges may receive just $2 million to $3 million from gambling taxes during the first year.  

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Read the full story from the Denver Post.