Our sister site Ohio Budget Watch has the real story behind the casino deal Kasich announced today, the story Kasich doesn’t want you to know.
While Kasich is running around claiming he got $110 million more from casinos in fees, the deal he struck involving VLTs and casino taxes actually loses the state hundreds of millions of dollars:
we lose about $100 million per year in CAT revenue (based on estimates of CAT at “$tens of millions” per casino, per year
we lose about $215 million per year in license revenue from video lottery terminals by lowering tax rate […]Full Story... →
Kasich is making an announcement this afternoon regarding his deal with the casinos and as Budget Watcher points out, it seems very likely that video lottery terminals (VLTs aka slot machines) are probably going to be allowed at Ohio’s race tracks. I recommend you read the Ohio Budget Watch post. As with many, many other issues, I think you’ll be very surprised how accurate their predictions turn out to be.
Regarding the VLTs, I thought maybe I’d cover a little background and touch on some recent issues that are suddenly being resolved to make way for Kasich’s likely plan […]Full Story... →