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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowHoosier Park Racing & Casino in Anderson and Indiana Live Casino in Shelbyville are hoping for a financial bailout from lawmakers debating the state budget in a special session at the Indiana Statehouse.
But with many legislators intent on keeping secondary issues from muddying up budget talks, gambling interests might be facing long odds.
Hoosier Park is in danger of going bankrupt and is blaming a $250 million state licensing fee and high tax rate for its money woes, Indiana Gaming Commission Director Ernie Yelton told the Anderson Herald Bulletin this week.
Hoosier Park General Manager Jim Brown didn’t comment on the bankruptcy report, but did say his facility and Indiana’s other racino, Indiana Live, were at a severe disadvantage compared with the state’s riverboat casinos.
“There are 11 riverboat casinos in the state of Indiana, and they did not pay any license fee and they had a gaming tax rate of 20 percent,” Brown told the newspaper.
“We paid $250 million, and our tax and fee rate as a percentage of our revenue is almost 50 percent. We are seeking the ability to be on a more level playing field with our competitors in Indiana.”
Track representatives hope the House Ways and Means committee will consider an amendment to lower the tax rate and make other changes to help the horse tracks, but lawmakers didn’t consider any amendments dealing with gambling yesterday.
Senate President Pro Tem David Long (R-Fort Wayne) has said that gambling issues will be off the table in his chamber during the special session, and should instead be sent to a study committee for review this summer.
However, the House Ways and Means committee is controlled by Democrats and hasn’t ruled out the possibility of considering gambling amendments.
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