Amendments to slot machine law increase funding to UPR
By The Star Staff
Gov. Pedro Pierluisi Urrutia has enacted amendments to Act 116 of 2023, the “Law on Gambling and Authorization of Slot Machines in Casinos,” which would increase funding to several entities such as the University of Puerto Rico (UPR), Popular Democratic Party Rep. Ángel Matos García said.
The gaming law previously established an unequal distribution of income, where Group A received 45% of the annual net income, and the remaining 55% went to the General Fund. The modification proposed by Matos García would ensure that Group B receives its fair share of the income, which includes funds for the UPR and other government entities.
Group A is made up of all dealers that have slot machines in their gaming rooms. Meanwhile, Group B is made up of a Special Fund, the General Fund, the Fund for the Development of the Tourism Industry and the General Fund of the University of Puerto Rico.
“Puerto Rico has faced significant challenges recently, from hurricanes to earthquakes and the COVID-19 pandemic,” the lawmaker said. “Many industries, including the tourism industry, have been deeply affected. This new law will allow for a more equitable income distribution, benefiting both the casino operators and the government entities that are part of Group B, mainly our primary educational center, the UPR.”
In addition to creating creative ways to distribute funds, Matos García said measures must promote the recovery of Puerto Rico’s tourism industry and support all economic sectors affected by hurricanes, earthquakes and pandemics.
“This new formula will allow a more effective and uniform projection for both sectors, without being at the expense of disbursement fluctuations,” he said.