SEARCH NEWS:

 

Texas Bill Would Turn Tracks into Casinos

AUSTIN, Texas – As reported by the Texas Star-Telegram: "Seven Texas racetracks, including Grand Prairie's Lone Star Park, could function as around-the-clock gambling casinos open 365 days a year under a multibillion-dollar proposal presented to a legislative panel Monday.

"State Rep. Jim Pitts, a Waxahachie Republican, made the presentation to be included in a far-reaching package of legislation that would overhaul the way Texas pays for public education.

"Under Pitts' proposal to the House Select Committee on Public School Finance, Lone Star Park and six other racing facilities, along with three Indian reservations, could operate as many as 40,000 video slot machine-style lottery terminals where patrons play for cash prizes.

"Pitts and lawyers representing the Texas Lottery Commission and the state attorney general's office said the machines would generate more than $2.6 billion a year, with the state receiving $1.57 billion.

"…The rate of return was based on the provision in the measure that calls for the state to collect 60 cents on every dollar earned by each video slot machine. But the former chairman of Lone Star Park warned that the state's desire to maximize its revenue could sabotage the venture before it is launched.

"…Although several lawmakers appeared enthusiastic about allowing video slot machines, the proposal has a long way to go before it can become law.

"..State Rep. Vilma Luna, D-Corpus Christi, expressed deep distaste for relying on gambling money as one of public education's financial cornerstones…"

< Gaming News