Kasich’s Casino deal costs Ohio schools $215 million

By On June 15, 2011 · 5 Comments

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 from 50% to 33%

we lose about $280 million per year in up-front fees from the 7 racetracks by lowering them from $65

That’s over $600 Million we’re losing thanks to Kasich – $215 million of which is earmarked for education.

It’s hard to believe THIS is the deal that Kasich paid his casino consultants tens of millions of dollars to come up with.

 
  • Anonymous

    So does that mean the casino consultants don’t get their bonus, but actually have to pay back the people of Ohio?

  • Anonymous

    Let’s ensrhine casino monopoly in the state constitution, but when it comes to letting citizens marry who they want, it’s all “morality this” and “outrage that.”

    Also, Captain Clueless strikes again, snatching defeat from the jaws of victory and really standing up for the (ten) people in Ohio (who are holding his leash).

  • The papers don’t care. They work for rich people and are the mouthpiece for the extremist RW mafia oops I mean TGOP. 

  • Slot-o-matic

    Anybody else get the feeling that the slots will be tighter than Shannon Jones after her usual Friday night bender ?

  • Anonymous

    Looks like Kasich’s only goal in remaking the deal is to de-fund public education.

Looking for something?

Use the form below to search the site:


Still not finding what you're looking for? Drop a comment on a post or contact us so we can take care of it!

Visit our friends!

A few highly recommended friends...

Archives

All entries, chronologically...