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Panel Discusses Effects of Slot Machines

Dr. Calvin A. Kent, VP of Marshall University’s Center for Business and Economic Research gave a speech last week in front of the UM campus before a group that included Ted R. Arneault, President and CEO of MTR Gaming Group, Inc. The speech described the effects of slot machine and table gaming on society and gave different percentages as to where the problems lie and who brings in the most slot machine and gambling revenue.

Arneault, part of the group that owns the Mountaineer Race Track and Gaming Resort in Chester, disagreed with the findings on Ken’s ratio of benefits-to-costs analysis. Kent said it is roughly $1 to $1.90 – and Arneault disagreed. He said that his ratio did not add up when compared to the actual slot machine revenue the tracks are bringing in. He said they had brought in $423 million from the four tracks’ 12,000 slot machines.

He said that with the 2-1 ratio it would mean that there were $846 million in costs to West Virginia. Arneault went on to say that adding table games to the existing slot machines would not make that big of a difference since people can play the same games on video slots games now. He said that they need to be competitive and the only way to do that is to bring in table games to draw customers from those that only offer slot machines.

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