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Ind. committee OKs slots

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February 20, 2007 Send To A Friend  | Print View

A bill that calls for 5,000 slot machines at Indiana’s two pari-mutuel tracks has passed a second crucial vote in as many weeks. House Bill 1835 passed out of the House Ways and Means committee Tuesday by a 14-8 vote. It could now move to the full House for consideration.

HB 1835, authored by Rep. Trent Van Haaften, D-Mount Vernon, passed out of the House Public Policy committee last week by a 9-3 margin. The measure would allow up to 2,500 slot machines at both Hoosier Park and Indiana Downs. Some industry experts have estimated 5,000 machines could generate up to $533 million in annual revenue, meaning as much as $80 million in purses each year for the state’s horsemen. It could also produce up to $185 million in annual tax revenue for the state.

Currently Indiana’s racing industry receives a $27 million subsidy annually derived from riverboat admission tax revenue. Despite this subsidy, both Hoosier Park and Indiana Downs have operated in the red in recent years. In 2005 each track lost in excess of $2.5 million.

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