SEARCH NEWS:

 

No More New Gambling Licenses in Iowa

IOWA – As reported by the Des Moines Register: "Iowa lawmakers voted Thursday to allow Prairie Meadows and other racetracks to have table games such as blackjack, but chose to ban new gambling licenses in counties that don't already have one.

"…The Iowa House voted 73-26 Thursday for House File 2302, a wide-ranging gambling bill. The vote came shortly after a key amendment by Carroll prohibiting any new gambling licenses and slot machines was approved by lawmakers on a voice vote.

"Passage of the bill was bittersweet for Prairie Meadows Racetrack and Casino.

"The Altoona track would get table games, but would agree to forgive $53.7 million in back taxes owed by the state. It would also pay a 24 percent tax rate, retroactive to the June 2002 Iowa Supreme Court ruling that it is unconstitutional to tax racetracks nearly twice as much as riverboats. Right now, racetracks and riverboats are paying 20 percent.

"…The bill approved Thursday was bad news for five Iowa counties hoping for new casinos. Residents of Black Hawk, Franklin, Palo Alto, Wapello and Worth counties have voted to authorize gambling.

"…Thursday's debate boiled down to a compromise struck late Wednesday between key lawmakers and gambling lobbyists and approved by the House on a 78-21 vote.

"The deal would allow table games such as blackjack at all three racetracks, set a new casino tax that wouldn't cause the state to lose money, pull cash and credit card machines off casino floors, and forgive $112.6 million in back taxes that the state owes to Iowa's three racetracks…"

< Gaming News