State Fund for Slot Machines

The Learn and Earn campaign to bring slot machines to Ohio is gearing up for tomorrow’s election. The proposal would allow slot machines to come to the state’s racetracks, and in return, part of the slot machine revenue would fund college scholarships for their youth. There would be seven horse racing tracks that would get the slot machines, and they are planning on roughly 31,500 slot machines when all of the slot machines have been brought in. There would also be two stand alone slot machine casinos in the state as well.

The Learn and Earn backers say that 45% of the $2.8 billion estimated slot machine revenue would fund tuition grants for the top 5% of Ohio’s high school students initially. The rest of the slot machine revenue would go to various economic and social programs in the state. Graduates could begin getting the slot machine revenue scholarships as soon as 2009.

Eventually all students would benefit from the slot machine measure, but initially it would only be the top few. Opponents say that the slot machine revenue numbers are misleading and that there is no way that they will be able to fulfill their claims once the actual slot machine revenue numbers are in.

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