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State Got Good Deal

According to all of the reports regarding the slot machines in the state of Maryland, not all of it has been factual. There have been reports of the state signing a deal that would have them purchasing slot machines for upwards of $46,542 per machine. According to reports, the reason that the deal was as expensive as it was is because they are trying to make themselves as competitive as neighboring states and that if they do not have the best slot machines out there to offer that they cannot compete. They wanted to offer the cream of the crop and so they would not need to upgrade their slot machines for a while. However, it would appear that this is not really true.

According to independent gaming analysts in Las Vegas and Baltimore, the price per slot machine is between $18,000 and $25,000 which is consistent with what private casino companies are paying for their slot machines. Both groups said that the lottery has paid market rate basically for the slot machines that will be at the new Hollywood Casino that is opening this year, as well as for the other casinos once they are up and running.

But the contracts were expensive, but this is not because of the price of the slot machines. These slot machines need maintenance and delivery, etc., and all of that was included in the price of the deal. This deal is a five year contract as well, which also increases the pricing of the deal. When you add all of it together and then divide it simply by the number of slot machines that you are getting it does look like they are paying much more for the slot machines then they should have, but these numbers are being taken out of context.

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