Tuesday, February 17, 2009

Racinos Get Tax Break

Here's the report, courtesy of Advance Indiana:

"House Ways & Means Committee last night when on a 17-7 vote the committee voted to give a huge tax break to the Blue Chip casino and the state's two horse race tracks. Under the plan put forward by Rep. Scott Pelath (D), the graduated tax on horse race tracks/casinos, otherwise known as racinos, will be reduced by 5%, costing the state $17.7 million a year in lost revenues. Blue Chip Casino is being allowed a $15 million deduction from its adjusted gross revenues for promotional discounts to patrons, such as free coin."

This Indianapolis Observer is, ummmm, aghast!

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