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NORTON NOTES: PA - Taxing Slots in Bars Make More Sense Than Online
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by Steve Norton
CEO, Norton Management
Offer casinos can’t refuse - Opinion - The Times-Tribune
At the proposed slot tax rate, I can't see any PA casino operators agreeing to want one of these licenses. The cost of marketing Online Gaming is too costly to make a profit from this form of gaming at the proposed tax rate. Slots in bars, could afford the current state tax rate, and if offered to the casino operators, could earn far more for the state than online gaming. The proposed up front fees seems like blackmail, perpetrated against the gaming industry, which already faces a difficult time earning a reasonable pre tax profit, because of the current high tax rate on slot win.
NORTON NOTES: FL Greyhound Racing
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by Steve Norton
CEO, Norton Management
While controversy surrounds Florida greyhound racing, the sport is quietly fading away
My comment:
There is a lot of controversy in the comments added to this article. But the issue is the industry is dying, and has been shut down or being closed, in other states. The only thing making Florida different is the slots and poker operations, that underwrite the losses from live Greyhound racing, and provide some tax revenue to the State. The FL House has been proposing allowing the tracks to stop racing, but the Senate wants to add slots to 8 more dog tracks; without the State referendum, that was required before Miami-Dade and Broward were allowed to add Poker and slot machines to pari-mutual's.
NORTON NOTES: CT Inching Closer to Wrong Location
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by Steve Norton
CEO, Norton Management
New Britain Herald - Tribal casino bill faces challenges despite Senate passage
Some of the recent coverage on the question of a tribal casino in East Windsor has indicated that "land in trust" is not required for a deal between the state and the Mohegan and Mashantucket Pequot Tribes. Although I think this leaves the state open to various legal challenges, I still question the choice of adding a casino to serve the Greater Hartford market, rather than a destination casino resort on the New York border.
NORTON NOTES: PA Casinos as VGT Operators?
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by Steve Norton
CEO, Norton Management
Most Pennsylvania Casinos Oppose Video Gaming Terminals « CBS Philly
Perhaps the casino operators would be more inclined to support VGT’s in appropriate businesses, is if they were to be the operators, rather than a third party, like in Illinois. Penn National, became a VGT operator in Illinois, and would like to do the same in Pennsylvania.