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Shouldn't all Minnesotans Benefit?
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- Tracks have successfully managed gaming operations and are already heavily regulated.
- Racetrack casinos bolster purses and the racing industry which includes hundreds of small businesses and 1000's of jobs.
- Racino games could generate $100's of millions in new tax revenue.
- No exsisting agreement prohibits this competition. Tax-paying racinos could compete for a share of these gaming dollars.
- Millions of Dollars are available for Minnesota non-racing equine development and promotion.
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New Taxable Revenue for Minnesota
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- The state of Minnesota is facing an historic budget deficit. The governor proposes a 45% cut in Local Government Aid (LGA) and painful reductions in other critical services.
- Before taxes go up and public services are cut, our legislators should consider generating tax revenue from the state’s largest untaxed commercial activity.
- Placing the same machines that presently operate at the casinos in our state at racetracks (racinos) would create a huge new source of voluntary revenue for the state.
- Racinos brought $2.2 billion in 2007 to state and local governments in the 11 states that enjoy them, a 54.6-percent increase from the previous year, according to the American Gaming Association.
- Racetracks are existing gaming facilities allowing rapid implementation. Revenue generating games could be up and running in 2009.
- Billions of dollars are spent at Minnesota's casinos, but no tax revenue is generated. Providing Minnesotans two alternative locations at which to play, will give all Minnesotans the benefits derived from new tax revenue and a thriving industry.
- Racinos will add to the tourism industry by giving Minnesotans and visitors the option of enjoying the same machines in a facility that also offers the excitement of horse racing.
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It's Working Elsewhere
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- In the 11 states with racetrack casinos in operation in 2007, casinos contributed more than $2.22 billion in tax revenue that benefited education, human services, economic development, public safety, and other state and local programs.
- Multiple 2004 public polls indicated that 70% of Minnesotans support the racino concept and 80% participate in some form of gambling.
- Racinos do not require any investment from the state.
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