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| Associated Press October 20, 2004 Legislative Panel Backs Plan for Video Gambling at Racetracks INDIANAPOLIS -- Indiana's racetracks would trade three unused off-track betting permits for 5,000 video gambling machines under a proposal approved by a legislative panel. If next year's General Assembly gives the go-ahead, the swap could generate millions of dollars for Indiana's horse racing industry and help close the state budget gap. The Interim Study Committee on Agriculture and Small Business Issues voted 9-2 Tuesday to endorse the proposal. The racing industry for years has pushed legislation that would authorize the slot-like machines at horse tracks. Track owners and breeders say the machines would generate a steady stream of income to bolster the industry and eliminate the need for subsidies from taxes paid by riverboat casinos. The idea so far has not cleared the Legislature in part because many lawmakers resist expanding gambling in the state. However, with the state facing an $800 million deficit, the lure of new tax money could entice some legislators. The Legislative Services Agency estimates that the machines could generate as much as $323 million a year after payouts. The state's annual share _ in the form of wagering taxes _ could be as much as $100 million. "We need all the money for the state of Indiana we can get," said Sen. Bob Jackman, R-Milroy, the study committee's chairman. "That's the reason for this legislation." Fifteen percent of the money from the machines would be used as an incentive for breeding and training by increasing purses and providing bonuses to Indiana-bred horses that win races. Rep. Markt Lytle, D-Madison, said he supports the proposal because it would help Indiana's horse racing industry. "If we don't do this, it (horse racing) won't survive," he said. The bill would allow Indiana Downs near Shelbyville and Hoosier Park in Anderson to install 1,000 machines each. Another 1,500 machines each would be permitted at betting parlors in Fort Wayne and Indianapolis, and the racetracks would co-own those sites. Meanwhile, the tracks would surrender three unused betting parlor permits. Supporters in the racing industry say that makes it a shift in gambling rather than an expansion. "What we're asking for is actually a reduction in the number of locations," said Jerry Walker, chairman of the Indiana Horse Racing and Breeding Coalition. Walt Schulz, a lobbyist for the Indiana Coalition Against Legalized Gambling, disagreed. "Any time you add gambling devices it's an expansion," he said. "Gambling on horse racing is not comparable to slot machines. Study after study has found that video terminals are more addictive than anything else."  |
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