Woodlands Odds are Not Looking Good 

The Woodlands has been asking for slot machines for some time now. They have been asking for slot machines, and they say that the only way that they can reopen their track is to bring in the additional gambling. They had to close their doors because they could not afford to stay open. However, the Kansas Speedway and Penn National Gaming are urging the state not to change the law to allow them to have the slot machines. 

They said that if they allow the Woodlands to bring in slot machines at this point that they could ruin their plans for a $386 million Hollywood Casino that they are bringing in at the Speedway. They say that they are due to get their approval this week and this could jeopardize all of their plans. If the law was changed, the Woodlands would alter the market and the business model of the Hollywood Casino. 

The idea that the Woodlands would like to see passed is that they are allowed slot machines and that they only have to pay 22% of that revenue to the state. They are not alone in this endeavor as there are many smaller tracks that would also like to bring in slot machines at the reduced rate to the government. They say that this is the same tax rate that the casinos pay and that they should be treated the same. 

Right now, the rate is 40% of slot machine revenue to the state. The smaller tracks say that this is just unfair and that they cannot handle that much of their slot machine revenue coming out of their coffers. Instead, they could give a lesser amount and be able to use the extra for building up their businesses.