Slots isn?t a dirty word. But it?s a word you?ll continue to hear over and over again in the coming months.
A hot topic in both the state legislature and at the track, supporters of horse racing believe that the best way to save the estimated $1 billion industry is to bring this form of legalized gambling to the state. Among them is Gov. Martin O?Malley, who believes change is vital if the state of Maryland wants to hold onto the Preakness ? and even Pimlico.
“I?m in favor of a limited number of slots at the track,” O?Malley told The Associated Press, “preferably for the purpose of keeping those racing jobs … and [keeping] the Preakness in Maryland. I believe all of us share the goal of keeping Maryland a first-tier racing state, and we need to find common ground that allows us to do that.”
One of the biggest points of contention is how much impact the slots will have.
While O?Malley?s camp indicated that 1,500 machines statewide could draw between $50 million and $60 million, estimates have been as high as $95 million, as reported in The Examiner. In the most recent data from the Racing Commission, the total year-end purse at Laurel was about $23.4 million, while the yearly winners? allotment at Pimlico, home of the Preakness, was only $11.3 million.
Another concern is that horse-racing fans are taking their dollars out of state.
Estimates as high as $400 million leave Maryland annually and go to tracks in Delaware, West Virginia and Pennsylvania, according to SlotSense.com. Keeping those dollars in Maryland could go a long way not only in giving horse racing a boost but also in helping to make up for the state?s $1.5 million structural deficit next year.
“The governor has made it clear that survival of the horse-racing industry in Maryland is very important to the state?s economy, and he wants to work with legislation to develop a solution,” said Buddy Roogow, director of the Maryland State Lottery Agency. “In surrounding states like West Virginia, Delaware and Pennsylvania, slots at the tracks have been implemented as a part of that solution.”
The Associated Press contributed to this story.
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