by Steve Norton

CEO, Norton Management 

Major Gambling Proposal Emerges in Florida Senate 

Once dog and horse tracks are no longer required to have live racing, it would seem the State could bring the slot tax rate back to the 50% level; that was only reduced to underwrite live racing. Whether tracks can keep their Black Jack, should be dealt with in the Seminole Compact negotiations. The good news for Florida tourism is the probable inclusion of the game of Craps and Roulette in the Seminole negotiations; which would put the Tribal casinos on equal footing with other resort destinations; the Bahamas, Puerto Rico, Biloxi and many other Island and Central American casinos.

I still believe it would be wrong to allow the horse tracks to stop racing, as they are part of the Florida tourism infrastructure, but they would need a lower tax than free standing slot casinos; and of course Tampa Bay Downs, needs a subsidy, absent other forms of gaming.

It might also be wise to consider moving some the dog track casino licenses to more suitable locations; more convenient to the visitor population.

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Florida gaming is in need of an overhaul. Greyhound racing is dead as a spectator sport, and from an economic perspective has gone from contributing nearly $100 million in taxes annually, to one that costs the state, for the racing part of their operations. The dog tracks could most likely survive just on poker and pari-mutual betting on horse racing; with a valuable piece of real estate to sell, where the track once stood.

Thoroughbred and harness racing are still part of the Florida tourism package, as are the Seminole casinos; which would become more internationally competitive with the addition of an American favorite, craps; and the dominant game in Europe, roulette. Florida competitors in the Bahamas, Puerto Rico, Biloxi and many Central American and other island destinations offer the full compliment of games, that are denied the Seminole casinos.

The horse tracks should be allowed to keep their slots, with some of the tax revenue subsidizing Tampa Bay Downs, which is without profitable slot machines.

As for the slots taken from the dog tracks; there should be carefully consideration where, if at all, they would be most appropriate; but not in competition with existing tribal casinos. Perhaps some North Florida resort communities would like a new amenity, perhaps at large existing resort hotels, where the aim would be at visitors, not residents; and the slot tax brought back to the original 50 percent or higher level, for these slot parlors.

I have serious questions about fantasy sports, and where they can be operated, overseen and taxed. FL needs to consider that sports betting, on individual games (like in Nevada), could be coming soon to desiring states; and would be most appropriate at existing casinos and possibly horse tracks.