by Steve Norton 

CEO, Norton Management

Florida is late coming to the Compact table, allowing the Federal courts to severely weaken the state's negotiating position. But there are several ways the state can help the Seminoles, while earning more tax dollars from the slot machines at Greyhound tracks.

Since non-slot tax revenues from dog tracks has declined by over 90 percent, the audience for live racing at these tracks is most likely slot or poker gamblers taking a smoke break. Why not eliminate the high cost of subsidizing Greyhound purses, and stop dog racing entirely, like several other states have already done. And if the South Florida tracks are allowed to keep slots, then bring the slot tax rate back to the original 50%, or raise it to an even higher rate, like PA (55 percent), MD (originally 67 percent), or NY (over 70 percent at Aqueduct and Yonkers); where large investments were required.. And if you actually stop dog racing, and removed the slots, the tracks could still be profitable from pari-mutual betting on horse racing, and Poker; plus they have some valuable real estate to sell, the acerage from the actual race track and stables.

Horse racing, on the other hand, is still a meaningful attraction for State' tourism, and needs some form of subsidy to compete with states that allow slots or full casinos, at their tracks. Currently this subsidy is being provided by slot machines, at the tracks in Miami-Dade and Broward, and taxed at 35 percent; but not at Tampa Bay Downs; where, without slots; a share of the tax from other tracks is deserved.

If Florida wants to expand slot or casino gaming, outside of the Seminole protected areas, they should be placed in a few existing or new resort communities, with local voter approval; in areas that need an added attraction. This proposal would place the new gaming in large existing resort hotels, or newly constructed destination properties; in locations, more convenient to the visiting tourist or conventioneer, than to the resident population.