Only Two Racetracks Meet Deadline for VLT Fees

Only Two Racetracks Meet Deadline for VLT Fees

The state budget was put in jeopardy this week when only two of the state’s seven racetracks ponied up the first of five $13 million licensing fee installments. The Cleveland-area Northfield Park and Raceway Park in Toledo were the only two tracks to meet the Tuesday deadline. The state is counting on the estimated $933 million in revenue it will receive from video lottery terminals (VLTs) installed at racetracks across the state. Of that estimate, $455 million is expected to come from licensing fees each track is required to pay in order to install VLTs at the track.

Many of the tracks have reported some issues with financing from potential investors due to the pending lawsuits. Each track that failed to make the initial payment will be fined $100,000 per day each day they are late. The Ohio Lottery Commission has said the director has discretion to modify any late penalties, but not until after the initial payment is made.

In similar news, the Quinnipiac University Polling Institute released new data this week regarding State Issue 3, the casino gambling issue, and found 56% of Ohioans support the issue. However, 60% of respondents said they were unlikely to go to a casino if they were built here in Ohio. The new poll also showed only 9% of respondents were more likely to visit a state race track if VLTs were there, while 12% said they were less likely to go to the track.

/ Lottery