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Kansas Slot Machines Will Pay State

The governor of Kansas has signed a bill that will allow those residents in certain counties to vote on whether or not slot machines are legalized in those areas. The areas are those that would be hosting either a casino or adding slot machines to a racetrack. If the residents say yes, Kansas could be eventually looking at somewhere around 10,000 slot machines; if they say no, then Missouri will be one relieved state.

But Kansas legislators are hoping they get approved because they are getting a nice chunk of change out of them if they are. With 10,000 slot machines coming in, you are looking at millions in revenue – not including other fees that they would have to pay to the state in order to be able to have them in the first place.

The new law would have the slot machines’ gross revenue taxed at 11% - so for every $10 million the casino brings in, the state will get $1.1 million. Plus the casinos would have to pay the state $25 million for the right to have the slot machines. Then they have to pay another 5% to the cities and counties, plus fund gambling addiction programs. The casinos are also required to put at least $225 million into the creation of the casino as well.

Racinos get a little bit of a break; they get taxed at 40% of gross gaming revenues and pay $2,500 per slot machine. They had better hope that they get approved, because Kansas’ legislators already have the money spent on property tax relief, as well as other areas of need.

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