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New York, Vernon Downs reach deal25 June 2007VERNON, New York -- As reported by the Oneida Daily Dispatch: "Representatives of Vernon Downs and members of the state Assembly have reached an agreement regarding the passage of legislation that will allow Video Lottery Terminal operators to keep a larger percentage of revenue. "The bill would give smaller tracks, like Vernon Downs up to 42 percent, depending on market conditions. There are three criteria a vendor must meet to get the full 42 percent. Vernon Downs meets all three including having less than 1,100 machines, being located in an area with a population of less than 1 million people within a 40-mile radius and being located within 15 miles of an Indian Casino. "The bill also allows up to four percent of VLT revenue to be used exclusively for capital improvements..." |