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Draft Study: Video Gambling Revenues Could Vary Widely3 October 2000CONCORD, New Hampshire – Oct. 3, 2000 – As reported by The Associated Press: "Legalizing video gambling to help pay for schools would be a gamble in terms of revenue, according to a draft study. "The net take for the state could be as high as $242 million a year or as low as $23 million, reseacher Ronald Mendoza wrote in a draft report for Gov. Jeanne Shaheen's tax study commission. "…Shaheen launched the study to help the next Legislature evaluate revenue sources to pay for schools. Pending results of the study, her first choice is video gambling at the state's four race tracks, which she says would bring in at least $145 million a year. "Mendoza, who is studying use of the machines at the tracks and two grand hotels - the Balsams and the Mount Washington - estimated gross revenue would be $541 million a year. But when economic and social costs are factored in, net revenue would drop to $67 million to $178 million, he wrote. "…Mendoza said video gambling accounts for 60 percent of gambling revenues in the major casinos of Las Vegas and New Jersey. Five other states also have video gambling: South Dakota, West Virginia, Oregon, Rhode Island and Delaware…" |