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West Virginia Tracks are Important Economic Factors

WEST VIRGINIA – As reported by the Wheeling Intelligencer: "The Northern Panhandle's two racetracks are important economic factors. They are major employers and their customers, by the thousands each day, contribute to the local economy.

"Much the same thing can be said of West Virginia's two other tracks, in Charles Town and Cross Lanes.

"Gambling is a major source of revenue that the state needs desperately. It contributes about $400 million a year to local and state government coffers.

"…West Virginia local and state governments received only 44 percent of proceeds from gambling at the four racetracks last year. State law allows it to be even lower, at 38.6 percent, depending on the amount of money wagered during a year.

"That percentage will change slightly in July, when $11 million a year of gambling proceeds now dedicated to paying purses at racetracks is diverted temporarily to help pay off the state's Workers' Compensation debt.

"…Because of legalized gambling competition building in other states, West Virginia's racetracks want to add table gambling to their offerings. If table gambling indeed does attract still more people to the tracks - and if it brings more potential revenue for the state, legislators should consider it carefully…"

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