www.hippopress.com/090101/News2.html -
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Published on: 1/1/2009
Last Visited: 1/1/2009
Ed Callahan, president and general manager of Rockingham Park, said business people and others who want gambling revenue to fill state budget gaps rather than sales tax, income tax or increases in business or property tax joined Millennium and Rockingham in launching Fix It Now.
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Ultimately, Rockingham would need these machines to keep racing, Callahan said.
Currently, there's live harness racing in the summer, but there has not been thoroughbred racing in five years.
They host simulcast wagering on horse and greyhound races from tracks around the U.S., and charitable bingo, poker, roulette and blackjack.
Millennium of Las Vegas has had an option to buy "the Rock" from shareholders of Rockingham Venture, Inc., for three years.
"Without gaming, I don't believe they would proceed," Callahan said.
Callahan explained that in most jurisdictions that allow video lottery, there's a state tax or assessment based on how much is left in the machine after people are paid off, Callahan said.
In most cases, 40 to 50 percent of revenue goes to the state, he said.
State Sen.
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How much is projected as income from the slot machines is dependent on those things, too, Callahan said.
If gaming is taxed "to oblivion," you generally won't get a great facility and won't be as competitive, he said.
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Callahan thinks video slots will actually attract more patrons for charity games.
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To the tune of about $220,000 per year to the town of Salem," Callahan said.
"If gambling creates all these problems ... apparently we've been creating them since 1933, but surprisingly nobody has seen them yet," Callahan said.
There's skepticism about projected returns.
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Callahan thinks competition won't be as much of a worry if "we can get in first and develop costumer loyalty."