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Rules for Race Tracks

The Ohio Lottery says that they now have a list of rules an regulations for how the lottery is going to handle the slot machines that they are bringing into the race tracks, and how they are going to give out the licenses for those slot machines. The state has approved, against many of the residents’ wishes, more than seventeen thousand slot machines to be distributed among the state’s race tracks.

The state wants the slot machines to come in fairly quickly, so they wasted no time figuring out how they might accomplish this. They have set a September 15^th deadline for all applications from tracks to bring in slot machines. If you want to file an application after that time, you could be facing a fine of up to $15 million for the late application.

This seems extreme at best considering it is only $100,000 to apply for the slot machines in the first place! Tracks will also have to make five $13 million installments toward that $65 million license fee. If they make their payment late they could be facing upwards of $100,000 a day for that late payment. Each track needs to pay the first $13 million payment by the time the deadline arrives for applying for the slot machines.

The state says that they think they will be able to bring in about 2,500 slot machines at each of the seven tracks across the state. This number of slot machines will bring in almost a billion dollars a year for the state’s coffers.

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