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Home > Blogs > Ohio politics > Archives > 2009 > October > 06 > Entry
Casino revenue estimate on target - if slots flop
Backers of the four-casino plan on the Nov. 3 ballot are on target with their estimate of revenue from the gambling plan with one big condition - slots have to flop. The casino plan is Issue 3 on the ballot.
A state analysis - prepared by the Office of Budget and Management and Department of Taxation - found that the casinos would produce $643 million in taxes annually, just slightly less than the $651 million projection from the Ohio Jobs and Growth Plan, the group backing the casinos.
The state estimate, released on Monday, Oct. 5, drops to $470 million a year, however, if the plan to put video lottery terminals at Ohio’s seven racetracks was up and running. That plan, which was part of the the state budget, now has been shelved by Gov. Ted Strickland because the Ohio Supreme Court has ruled that it is subject to a referendum in November 2010.
The casino plan allocates 90 percent of the taxes to local governments and school districts and 10 percent to specific state programs.
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Comments
By NastyAlisha
November 3, 2009 5:52 PM | Link to this
Neat Blog, oddly enough I had read a newspaper article from september fourth two thousand and four that was remarkably similar to this post. I guess there really isn’t anything new under the sun anymore
By I<3Ohio
October 6, 2009 5:14 PM | Link to this
What’s tough to believe Marilyn? The tax revenues that would benefit local governments and schools are built into the proposal. If it’s passed, those funds are non-negotiable. The lottery is a totally separate beast and run by the state, which incidentally doesn’t have the greatest track record when it comes to money. I’m definitely voting YES on casinos. What perplexes me is the job argument. Whether it winds up being thousands of jobs or tens of thousands of jobs, it’s still more jobs! Why on Earth would we say no to more jobs? Think with an open mind, yes, but also educate yourself on the issue before hitting the voting booth in November.
By GP
October 6, 2009 2:56 PM | Link to this
Why are we always quick to believe a study by a government entity, when the result will be a benefit to the state’s income if it comes out properly. Like a fox watching the hen house.
By Marilyn
October 6, 2009 1:44 PM | Link to this
It’s pretty hard to believe what they are projecting as income from gambling, and that it would actually get to the schools. After all, wasn’t the lottery supposed to support the schools? Where is the money from that going? And the number of created jobs from gambling sounds too go to be true. You know what that means? If it sounds too good to be true, it likely is NOT true. We had better all think with an open mind on Issue 3.
By dale1
October 6, 2009 1:09 PM | Link to this
I just read the entire proposal and I’m definitely voting against it.
By FreedomWriter
October 6, 2009 1:01 PM | Link to this
I think it would be nice if they just got the vote over with. There is so much crap going on from both sides. Just get the damn thing done, one way or the other. Gees, stupid a$$ people, anyways.
By dale1
October 6, 2009 12:50 PM | Link to this
I know lots of people that go to the casinos and not a single one of them smoke. I don’t gamble and I still haven’t made up my mind on how I’ll vote. I don’t believe either side on this issue. I think Ohio will increase spending by the amount of nex taxes it takes in and within a few years the state will have more financial problems. The only way to solve financial issues is to cut spending or at least cut waste.
By Dave
October 6, 2009 11:45 AM | Link to this
Mark…are you saying 75% of the gamblers smoke? Where did those status come from? I love to gamble and I’m a non smoker…
By LABIOS
October 6, 2009 11:17 AM | Link to this
ASK THE GOVERNOR OF NEVADA IF GAMBLING AS A SOURCE OF INCOME WORKS-HE’LL GIVE A RESOUNDING NO-HE CALLED THE EXPERIMENT A DISASTER IN 2004.
By K C
October 6, 2009 11:08 AM | Link to this
Smoking ban? Check the proposal to see if it exempts the casinos from state smoking ban. It exempts casinos from local zoning codes, so you could have nude dancers in the casino cabaret and other adult entertainment. State could reduce financial aid to schools by offsetting amounts like they did with the lottery. There will still be school property tax levies on the ballots going forward because they just want more and more and don’t manage their money. They have education degrees, not business degrees.
By Rob
October 6, 2009 11:07 AM | Link to this
Utter abdication of state sovereignty…the amendment reads that ANY game allowed in the surrounding states MUST be permitted in Ohio. On that statement alone, I can vote against it. Legislature, do your freaking job. Vote it up or down.
By VOE
October 6, 2009 11:03 AM | Link to this
keep ohio money in ohio.
By Mark
October 6, 2009 11:00 AM | Link to this
I wonder if Ohio will see the crowds they expect to see at a casino. Ohio still has a somking ban, thus 75% of people gambling will still flock to Indiana and elsehere to support their habits.
By tightwad
October 6, 2009 10:56 AM | Link to this
So, 90% of tax revenues go to the local schools and government? Would this be the locality in which the casino is located? If so, then money coming in from other tax payers in the state would be supporting schools other than their own. Why would these tax dollars be spread across the state sot that all tax payers and spenders benefit. Otherwise, casino’s take disposible income from one locality and puts it in another…. still hurts most communities as there is only some much pie.