MD Slot Revenue To Offset Track Overhead?
The office of Maryland Governor Martin O'Malley this week proposed legislation which would see proceeds from slots gaming funnelled to the Laurel and Pimlico racetracks for thoroughbreds in order to offset operating costs
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The Washington Examiner reported this week that O'Malley's fiscal budget for 2012 could possibly see $3.6 in slot revenue redirected back to the track operators (MI Developments, Penn National Gaming) in order to ensure the tracks host the entire 146 dates of live racing allocated between the two tracks.
The article also explains that another piece of legislation could see the same sort of revenue re-direction occur for coming years.
In regard to the standardbred side of the Maryland slots revenue spectrum, the report explains that O'Malley's office will also be submitting a bill which would see Ocean Downs and the future operator of Rosecroft Raceway receive a quarter of the slots revenues which had been previously earmarked for purses.
Joe Bryce, O'Malley's chief legislative officer, said on Wednesday that "It is becoming harder and harder ... to see racetracks that are profitably operating without gaming. That is a reality of how the racing industry is structured now."
The report also cited Maryland Senator David Brinkley as blaming state lawmakers for the situation in which the tracks currently find themselves in. Lawmakers did not pass a recent bill which would have seen alternative gaming implemented at the state's raceways. "The ultimate responsibility lies here," he was quoted as saying.
Senator Brinkley went on to refer to the state's current plan to help the racing industry "a Band-Aid on an arterial bleed."
(With files from The Washington Examiner)
Repetive again Mr.Carter,
Repetive again Mr.Carter, but right as usual!!
Right on Mr.Carter.I don't
Right on Mr.Carter.I don't think the public realizes the amount of slot money that the race tracks have received.In the last 12 years the tracks in Ontario have gotten about 2 billion dollars.Politicians are wondering where they can cut services,maybe they can start with the outrageous handouts the race industry is getting!
So several more tracks about
So several more tracks about to go on welfare no big surprise. It does make one wonder how many more years the public will accept the money going to an industry that is so obviously dying out and demand that the slot revenue goes to the greater public good such as building hospitals, schools and on infrastructure and so on, instead of to an industry not willing to do anything to help themselves other then demand more handouts.