Re: West Virginia House passes table games bill... next step?
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There is also the "tax" problem. 35% will kill most of the profits. I didn't dig real deep into the issue
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Dig into it a bit. Those percentages are misleading, and they are still very much in the "negotiating" stage of things. The casinos themselves offered up a 24% "tax". However part of that money goes back to the tracks to pay purses of the dog/horse racing that goes on. Some of it is what goes into Employee 401k and so forth. The tracks also initially offered up a 24k yearly license fee, that the WV government jacked up to 1.5 million initial and 2.5 million renewal.
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Another problem is the ridiculously low recall requirements even if this thing does pass. I seem to recall that they set it around 5%.
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This is just the % of signature on petitions required to put the recall on the ballot. I believe this still then is just a vote in the county that has the Casino. These counties are not likely to take the table games away.
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