Indiana Slot Machine Bill

An Indiana House committee approved a bill that would legalize slot machines at Indiana racetracks. Both Indiana Downs and Hoosier Park would be allowed to install 2,500 slot machines to assist them with their slowing growth and revenue. House Bill 1835 which passed with a rather large margin, 9-3, would enable the tracks to bring in slot machines to save their institutions.

The House Public Policy Committee passed the vote, saying that they felt the slot machines could bring in more than $200 million a year. They also said that the racing industry was in dire need of help, and slot machine revenue could do that for them. The first boost to the state would be the $75 million each track would have to pay for the slot machine license, and then their revenues would be taxed at 32.5% up to $150 million. Once slot machine revenue passed that mark, the casinos would pay 37.5% instead.

That slot machine revenue could make a big difference to the state, with money going to healthcare, education, etc. There is also the $27 million that the riverboat casinos currently pay from their slot machines to the casinos to subsidize them that would be able to go toward giving low income residents some health insurance. However, the Senate still has to pass the slot machine bill, and many think that is really just impossible.

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