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Issue 278
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January 9, 2006 - January 15, 2006
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Volume 6
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page
2
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Gambling
sites eager to roll as governor signs bill regulating Broward's
slot machines TALLAHASSEE, Florida - Voicing concerns that expanded gambling will hurt Florida, Gov. Jeb Bush on Wednesday reluctantly signed into law a bill that gives the green light for Las Vegas-style slots in Broward County. "I oppose the expansion of gambling because it is detrimental to Florida's economic development and hurts Florida's families," said Bush, a staunch opponent who had tried to defeat the constitutional amendment that opened the door for slots. "However, I have a constitutional duty ... to implement the voter-approved initiative." Owners of the county's four pari-mutuel facilities predict a boon for the area and for Florida's schools, which are expected to reap a $209 million benefit from slots tax revenues by the 2007-08 school year. "This isn't only a boon for the county, it also now offers protection for those people who partake in gambling, whether it's regulated or not," said Dan Adkins, vice president of Hollywood Greyhound Track. He referred to nearby unregulated Indian gambling. The state has six months to establish detailed rules of operations -- including security requirements for the machines and how money will be handled. If the state doesn't act by June, the pari-mutuels will still be able to open with temporary licenses. "We've got to get those slots going for a number of reasons. It's good for the shareholders and horsemen. It's also good for the community and education in the state," said Dennis Mills, vice chairman of Magna Entertainment. The company owns Gulfstream Park in Hallandale Beach, where a $171 million renovation already is under way. Mills said Gulfstream, which is building a 40,000-square-foot complex that will include restaurants and a sports bar, wants to have its machines up and running in six months. On Wednesday, opening day of the 2006 racing season, only part of the new complex was ready for business and a casino-style room packed with slot machines was still four months away. Plans are also in the works to turn the county's other three aging pari-mutuels -- Hollywood Greyhound Track, Pompano Park harness track and Dania Jai-Alai -- into glittering entertainment complexes. Each will be allowed to install up to 1,500 machines, which will be taxed at 50 percent -- one of the highest tax rates in the nation. Adkins, who led the drive to get slots approved by voters statewide in 2004 and then in Broward in 2005, has scaled back his original expansion plans because of the tax rate -- opting to renovate his existing building. "We'll see how it goes," he said. "We'll get people in because the demand is there for gambling. Once we begin operating and offer bettors a payback of 91 to 94 percent, we'll draw large crowds." Adkins said he could have slot machines up and running "within an hour of rules being issued, as long as they are not intentionally punitive." The Isle of Capri Casino Corporation, which owns Pompano Park, is conducting its winter meeting in Broward next week and is expected to decide the scope of its renovations. "The original scope of the project was in the $165 million range but I anticipate that budget may be pared somewhat," said Dick Feinberg, general manager of the harness track. "But it's still going to be a major expenditure." He hopes to have 1,500 machines up and running by the end of the year. The Florida
Department of Law Enforcement is hiring 39 new agents and analysts
who will be responsible for monitoring the slots operations. |
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Etta
James
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Orleans Showroom: The Soaring Voice of Etta James will be at The Orleans Hotel & Casino's Orleans Showroom January 20th through the 22nd. Etta James is one of the great forces in American Music. With 2 Grammy Awards and a star on the Hollywood Walk of Fame, Ms. James is a recognized master in the field of blues, R&B, jazz, and pop, crossing genres time and again, proving her notion that, “If I can feel it, I can sing it.”
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