Minnesota bill would create racinos
Posted on: March 21st, 2011 3:01 pm | By: Jeremy SchruteAcross the United States, gambling expansion has been a popular topic. States are strapped for cash and in addition to cutting spending, the governments are looking for additional sources of revenue. To that end, gambling expansion is being looked to as a cash cow by some. Such is the case with a new bill introduced in Minnesota.
Two Republican lawmakers, Representative Bob Gunther and Senator David Senjem, proposed legislation today that would allow the two horse racing tracks in the state to add video slot machines. By doing so, they would be converted from race tracks – which continue to lose money and popularity over time – to race track casinos (also called racinos), which can generate significantly larger amounts of money.
Several times in the past some form of racino legislation has been introduced in Minnesota and the bills have always failed. Some think that this time is different, though. The state has a projected budget deficit of $5 billion and states across the country are finally realizing that they need to get serious about getting out of debt. Senjam believes that adding up to 400 slot machines to the two racetracks could bring in approximately $125 million in extra revenue per year. Though that would only make a small dent in the deficit, everything counts right now. That is $125 million that wouldn’t need to be cut.
Senjam says that doing so will produce “the kind of economic development program in Minnesota that will compete with any economic development program, frankly, across the nation.” His plan already has plenty of opposition. Aside from the anti-gambling groups, the legislation is also opposed by the Native American tribes in the state. There are 18 tribal casinos in Minnesota and the tribes do not want competition from racinos.
Tags: gambling expansion, gambling legislation, Minnesota gambling
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