INDIANAPOLIS — The prospect of slot machines at Hoosier Park is still alive, but officials have a new set of numbers to work with.
The Tax and Fiscal Policy Committee of the Indiana Senate Tuesday approved an amended version of House Bill 1835, which would bring slot machine gaming to Hoosier Park in Anderson and Indiana Downs in Shelbyville. The 9-3 vote means the bill will head to the senate.
“Let’s look at this as the glass is half full,” said Rick Moore, president and general manager of Hoosier Park. “The subject matter is moving forward.”
In one fell swoop, however, the committee drastically altered the bill. Two key amendments trim the number of slot machines at each facility to 1,500 and quadruple the sum of a one-time licensing fee to $400 million.
Hoosier Park officials and an East Coast gaming economist have said slot machine legislation could bring as many as 1,000 jobs to Hoosier Park. But that was under the old math: 2,500 slot machines per facility and a $100 million licensing fee.
Fewer machines mean less revenue, while a higher licensing fee means less money Hoosier Park owner Centaur Inc. can devote to construction of a new gaming room or launching a marketing campaign. Centaur declined to comment for this story.
“From what I heard today, it’s still open for discussion,” Moore said. “But $400 million is just a huge, huge number.”
Possibly an unprecedented number. Moore said the highest licensing fee he knows of for a “racino” is Pennsylvania at $50 million. In Iowa, licenses are either $5 million, $10 million or $20 million, based on population, and Maine uses a fee of $200,000, plus $100 per machine.
“It’s higher than any license fee I’ve seen for a racino,” Moore said. “Again, we’re talking a race track with slot machines, not a full-fledged casino with table games. I hope there’s time for discussion.”
Committee Chairman Luke Kenley, R-Noblesville, introduced the licensing amendment. He made reference to an Illinois gaming license auction that netted $530 million.
Moore believes Indiana Downs would have an equally difficult time paying the heavy license fee. Indiana Downs General Manager John Schuster said the horse industry is not asking for charity.
“We’re not asking for a handout — we’re asking for a hand,” Schuster said. “This will enable us to improve the health of the horse-racing industry in the state of Indiana.”
The two race tracks currently share a $27 million subsidy provided by the state of Indiana.
Opponents have accused the state of bankrolling a failing industry.
“The expansion of gambling is only a quick fix for a little while,” said Daniel Gangler of the Indiana Coalition Against Legalized Gambling, during Tuesday’s meeting. “It’s not a good economic solution for the long haul.”
The amended bill also taxes slot machine revenue at 25 percent for the first $100 million, 30 percent for the second $100 million and 35 percent thereafter. The committee also approved a provision that would no longer require riverboat casinos to have motors.
Shelbyville Mayor Scott Ferguson spoke on behalf of Indiana Downs, calling it a good corporate citizen.
“I’m here to tell you what a great partner Indiana Downs has been for our community,” he said. “Frankly, we’re afraid of losing this in our community. We appreciate any assistance and anything you can do to help.”
Anderson Controller Morris Long spoke to the benefits that Hoosier Park has brought to Anderson and to the fruitful future the bill could create for both entities. He said communities such as Anderson face a perfect storm of job loss, loss of tax base and loss of services.
“This is a source of revenue that will help stave off dire straits,” Long said. “It would make Hoosier Park one of the largest employers in the city.”
State Sen. Tim Lanane, D-District 25, said he was unsure when the bill might come for a vote before the Senate. In its amended form, it must pass the House again. If passed, could face a veto by Gov. Mitch Daniels.
“This is an important bill for the whole state, and it’s an important bill for Madison County,” Lanane said. “I think it has a better chance than before of passing. We just need to hammer out the details.”
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March 20, 2007
6:19 p.m.: Steep wager: New set of numbers in slots bill
Slot bill passes committee, but numbers change
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