By JOSELYN KING
CHARLESTON — The West Virginia Lottery Commission projects that — if allowed at the state’s four racetracks — table gambling would generate $40 million annually for the state.
The $40 million figure is based on a state tax rate of 24 percent on the tracks’ net profits from table gambling, as well as the assumption that table gambling would be implemented at each of the four tracks. The 24 percent tax rate is the amount stated in legislation currently before West Virginia lawmakers.
House Bill 2718 and Senate Bill 369 also have language directing the tax revenue from table gambling for specific purposes, and sets forth percentages as to where the money will go.
A total of 82.5 percent of the state’s net tax revenue would be placed into the state’s general fund. If table gambling were to generate $40 million on an annual basis, this would mean $33 million yearly going into the general fund.
The next 8 percent of tax revenue is designated for race prize purses at the tracks. This would equal $3.2 million.
Horse and dog breeding funds would get the next 2 percent or $800,000.
Counties where racetracks are located would split the next 2 percent or $800,000. For example, if all four counties were involved, this would mean $200,000 each for Ohio, Hancock, Kanawha and Jefferson counties.
The municipalities that are home to each racetrack also would split 2 percent or $800,000 from the $40 million generated.
The state’s Tourism Promotion Fund would get 1.5 percent — or $600,000 — from the table gambling dollars.
The next 1 percent is designated for track employee pensions, which would receive $400,000.
The pension funds for municipal firefighters, police and county sheriff’s deputies also would benefit under the legislation. Firefighter and police pensions are to receive the next 0.5 percent of the funds, or $200,000. The deputy sheriffs’ pensions would receive the last 0.5 percent, or $200,000.
The legislation also stipulates that up to 15 percent of the money be set aside for the Lottery Commission to administer and enforce table games regulations, and that $250,000 be directed to the Compulsive Gambling Treatment Fund.
The four racetracks include Mountaineer Race Track & Gaming Resort, Wheeling Island Racetrack & Gaming Resort, Charles Town Races & Slots in Jefferson County and Tri-State Racetrack & Gaming Center in Kanawha County.
Section: News Posted: 2/1/2007
Joe Delong received the following contributions from people with ties to gambling and dog breeding since 7/05:
7/29/05 $311.00 from someone whose listed occupation was greyhound breeder.
7/29/05 $1,000.00 from someone whose listed occupation was greyhound breeder.
10/31/05 $1,000.00 from someone whose listed occupation was greyhound breeder.
10/31/05 $1,000.00 from someone whose listed occupation was greyhound breeder.
7/15/06 $500.00 from someone whose listed occupation was kennel operator.
7/15/06 $350.00 from someone whose listed occupation was kennel operator.
7/15/06 $350.00 from someone whose listed occupation was kennel operator.
7/20/06 $250.00 from someone whose listed occupation was kennel operator.
9/30/06 $1,000.00 from Edison Arneault from Mountaineer Race Track.
11/1/06 $500.00 from someone from Wheeling Race Track.
All of the above information is available on-line at the website for the WV Secretary of State.
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