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New Jersey tracks want more casino money26 June 2007ATLANTIC CITY, New Jersey -- As reported by the Press of Atlantic City: "...With New Jersey tracks making another push to get slot machine-like video lottery terminals, the gaming industry may once again have to shell out millions of dollars in horseracing subsidies to keep VLTs at bay and maintain Atlantic City's monopoly on casino-style gambling. "Negotiations are expected to begin this summer on another casino subsidy agreement for the Meadowlands, Monmouth Park and Freehold Raceway. "...Under the current arrangement, the casinos paid $20 million in subsidies in 2004, $21 million in 2005, $22 million in 2006 and are scheduled to make a final payment of $23 million this October. "...Casinos don't want the obligation of having to bail out the racetracks for years and years down the road. In the past, casino executives have questioned why any subsidies were needed at all. They argued that the racetracks' survival should not depend on handouts from the casino industry. "Racetrack supporters claim that as long as the casinos are blocking them from getting VLTs, the gaming industry should help to subsidize their operations..." copyrighted material written for and appeared exclusively in The Press of Atlantic City |