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W.V. gambling bill introduced

WEST VIRGINIA – As reported by the Charleston Gazette: "State senators are expected to take up a bill to legalize table games at West Virginia's four racetracks this week, and industry lobbyists hope they will scale back what would be the nation's highest tax rate for casino gambling.

"…The bill (HB2718), which passed the House on Friday, would charge racetracks with casino-style table games a $2.5 million annual license fee and a 35 percent "tax" on profits to the state.

"According to the industry, that would amount to a tax rate of 42 percent at the larger tracks in the Northern and Eastern Panhandles, and up to a 53 percent tax at Tri-State Racetrack and Gaming Center in Nitro, the smallest of the four 'racinos.'

"That would push West Virginia ahead of the nine states that permit casino gambling…"

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