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News:
Slot machines could be coming soon to Ohio racetracks
June 19, 2009
Under the gun to fill a $3.2 billion budget hole, Gov. Ted Strickland proposed expanding gambling in Ohio through legalizing slot machines. Strickland announced the proposal at a 4 p.m. news conference, in which he also proposed "painful" cuts amounting to $2.43 billion for the next budget.
"This has been a difficult choice for me, but I believe it's a necessary one," said the Democratic governor. "It is contrary to what I ever thought I would have to do." He said that this option would allow the state to balance the budget without raising taxes.
The gambling expansion would place slot machines -- technically called video lottery terminals -- at Ohio's seven struggling horse racetracks and run the program through the state's lottery program.
The governor's decision to bet on slots represents a reversal on his long-standing stance opposing expanding gambling.
Strickland said he had "chosen to break with tradition" to help the legislature reach a balanced state budget by June 30, as required by state law.
Strickland said he still has not yet determined how many slot machines could potentially land at each racetrack, however, the governor said he expects the proposal will bring about $933 million in new revenues over the next biennium.
The governor said the revenue would be drawn from a licensing fee at each track plus a portion of proceeds from each track location.
Strickland recommended the slots proposal be approved by the legislature instead of a statewide vote so that revenue can be realized quicker. This course could pose a problem for the governor.
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