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Indiana Tracks May Trade OTB Permits for Machines

INDIANAPOLIS, Indiana – As reported by the Associated Press: "Indiana's racetracks would trade three unused off-track betting permits for 5,000 video gambling machines under a proposal approved by a legislative panel.

"If next year's General Assembly gives the go-ahead, the swap could generate millions of dollars for Indiana's horse racing industry and help close the state budget gap.

"…The racing industry for years has pushed legislation that would authorize the slot-like machines at horse tracks. Track owners and breeders say the machines would generate a steady stream of income to bolster the industry and eliminate the need for subsidies from taxes paid by riverboat casinos.

"The idea so far has not cleared the Legislature in part because many lawmakers resist expanding gambling in the state.

"However, with the state facing an $800 million deficit, the lure of new tax money could entice some legislators.

"…The bill would allow Indiana Downs near Shelbyville and Hoosier Park in Anderson to install 1,000 machines each. Another 1,500 machines each would be permitted at betting parlors in Fort Wayne and Indianapolis, and the racetracks would co-own those sites…"

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