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Without Slot Machines They Need Subsidy

There is a new proposal that is on the books that talks about eliminating a $27 million annual horse racing subsidy in Indiana. Without slot machines at the tracks, they have needed some help in recent years, and a new bill is trying to eliminate that help. The tracks say that without slot machines, and without a subsidy, they will not survive.

Opponents say that it will never come to light, as they know that without the slot machines or the subsidy the horse racing industry could come to an end – and that means a lot of lost revenue and jobs. The government released an efficiency report last week that said that it could not find the benefit to taxpayers to keep paying for the tracks. It was one of 150 recommendations, and many are already being acted upon by the government. But without the slot machines or the subsidy many don’t know where the money will come from. However, Governor Daniels said that reviewing the subsidy was not a priority of his right now.

The horse racing industry currently receives money from the slot machine casinos. Every time a gambler visits one of the slot machine casinos in Indiana they pay a $3 admission tax. From that tax, $0.65 goes to the horse racing industry. Last year they received $27 million in slot machine tax subsidy, with $10.8 million going to each of the two state pari-mutuel tracks, and the remaining $5.4 million going to breed development funds.

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