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Slot parlors raise doubt in Maryland

MARYLAND -- As reported by The (Baltimore) Sun: "With next week's slots vote coming at a time of economic upheaval, state leaders are acknowledging that they might have to sweeten incentives for gambling companies to attract quality developers.

"MGM Mirage, one of the biggest brands in the casino industry, said yesterday that it has no interest in bidding on one of the five proposed Maryland casino sites that would be authorized if voters approve a constitutional amendment next week. A big reason: the state's plan to take 67 cents on every dollar collected by the operator, and a requirement of huge upfront investment.

"House of Delegates Speaker Michael E. Busch and Senate President Thomas V. Mike Miller said this week that if the ballot question passes, the General Assembly might have to lower the tax rate if not enough attractive bids come in. Their comments underscore the vulnerability of a gambling industry hampered by plummeting consumer spending.

"...Miller said the slots licenses are among the 'least lucrative' in the nation but contends that they are still valuable and expects at least a dozen applicants. 'We might have to adjust, but I really think we did a lot of study and looked at the mistakes of other states and tried to avoid that,' he said..."

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