Canterbury Park rake increase

[danspartan]

Found this on-line. Not sure if this was a proposed tax or something that is now enforced.

LAWFUL GAMBLING TAX Card Club Tax Combined Receipts Tax April 20, 2007Yes No DOR Administrative Costs/Savings XRevised Analysis Department of Revenue Analysis of H.F. 2443 (Lenczewski), As Proposed to be Amended, Revised for New DataFund Impact F.Y. 2008F.Y. 2009F.Y. 2010F.Y. 2011(000’s)Card Club Tax $2,000 $3,000 $3,700 $4,300 Combined Receipts Tax ($1,400)($3,600)($3,600)($3,600)General Fund Total $600 ($600) $100 $700 <font color="red"> Effective July 1, 2007</font> EXPLANATION OF THE BILL Card Club Tax Currently, Minnesota has no tax on card clubs. <font color="red"> A tax of 6.5% of the gross receipts</font> of the Canterbury Park card club and the new card club at the harness racing track in Columbus would be charged as a condition of operating the card clubs. The tax would be payable to the Minnesota Racing Commission for deposit into the state’s general fund. Combined Receipts Tax The maximum combined receipts tax rate is 5.1% for combined receipts in excess of $900,000. As proposed to be amended, the bill would reduce the rate from 5.1% to 4.8% for the period from July 1, 2007, through June 30, 2008, and from 5.1% to 4.3% thereafter. REVENUE ANALYSIS DETAILCard Club Tax • Currently, the Canterbury Park card club’s revenue is generated by charging a fee called the “rake” for each hand of poker or other card game played at the club. The rake is removed from the pot by the dealer as the hand is played. Though it can vary, a typical rake for a hand of poker is $4. There is no admission fee charged for admission to the card club, but there is no prohibition against one being charged if the card club management should want to do so. • The information on the rake must be reported to the Minnesota Racing Commission. The commission provided the following annual information on the rake since the opening of the card club: <font color="red"> </font>
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Department of Revenue April 20, 2007 Analysis of H.F. 2443, As Proposed to be Amended, Revised for New DataPage 2 REVENUE ANALYSIS DETAIL (Continued)• Since the card club is limited to fifty tables, which are operating at nearly full capacity, the revenue growth has stabilized somewhat. Growth rates of 4.0%, 3.5%, 3.0%, 2.5%, and 2.0% are used for this estimate for calendar years 2007 through 2011. • Fifty days of racing are required at the new Columbus racetrack before the new card club can open. For this analysis, it is assumed that racing will begin in May of 2008, and that the card club will open October 1, 2008, with its full allotment of fifty tables. • When the new card club opens, it is assumed that Canterbury Park will see a reduction in the average monthly rake per table of 15%, 10%, 5%, and 0% for calendar years 2008 through 2011. • It is assumed that, for the months it is open in 2008, the average monthly rake (or other revenue) per table at the new club will be 50% of the Canterbury Park average and will increase to 100% by 2011. • It is assumed that by calendar year 2011, the average monthly rake per table at the two clubs will be equal, and that this amount will be equal to what the average monthly rake per table would be if the second card club were to not open. • The revenue from the proposed tax could be quite different from this analysis due to the uncertainty of the opening date of the card club at the harness racing track in Columbus. Combined Receipts Tax• The February 2007 forecast of the combined receipts tax is used for this analysis. • Using updated information from Department of Revenue records for taxpayers with combined receipts greater than $900,000 for fiscal years 2005 and 2006, the impact of reducing the maximum combined receipts tax rate from 5.1% to 4.8% and 4.3% was calculated for those fiscal years. • The average reduction in the revenue was about 5.2% and 13.8% respectively. • These reductions were applied to the February 2007 forecast of the combined receipts tax. • The annual revenue loss is: o $1,400,000 for fiscal year 2008 based on a maximum tax rate of 4.8%. o $3,600,000 for fiscal years 2009 through 2011 based on a maximum tax rate of 4.3%. Number of Taxpayers: Two taxpayers, Canterbury Park and the new Columbus club, would be affected by the card club fee. About 440 taxpayers could be affected by the reduction in the maximum combined receipts tax rate. Source: Minnesota Department of Revenue Tax Research Division http://www.taxes.state.mn.us/taxes/l...cyhf2443_2/cej

http://64.233.167.104/search?q=cache:8Sf...;cd=3&amp;gl=us

[bapazian]

[ QUOTE ]
Makes sense to me . $50 in gas to beat the rake and play in those exciting $3-6 games

[/ QUOTE ]

lol I live in St Cloud dude. Canterbury is 80 miles away, Mille Lacs 75, Hinckley 82, and turtle lake like 100 miles

So Mille Lacs is actually closer I just prefer canterbury because of the table selection.

[BigBuffet]

[ QUOTE ]
There is no admission fee charged for admission to the card club, but there is no prohibition against one being charged if the card club management should want to do so.

[/ QUOTE ]

Surprised CP doesn't do this for a year before their monopoly ends.

The Columbus club gets 50 tables--does CP get a table increase [img]/images/graemlins/confused.gif[/img]

[hoppscot22]

im still looking forward to coming back and playing live a little, hopefully winning a tournament maybe, 10k in the weekend will do...

30 60 jackpot over the 17th? mmmm, Mr. PokerBob runs bad enough for it to happen

[PorkchopDJG]

Competition can only be good for us the poker customer.
50 tables at the new Columbus room!
Very Nice!

[bratwurst]

I was out that way a couple times several months ago during a week long stay in Minneapolis. I was hoping to play some SnGs but they didn't spread them the nights I was there. Should be back next summer again.

Some of the guys I was there with played BJ and were bitching about some kind of rake at the BJ tables? What was that all about?

Overall, was less than pleased with the place.

[MarkGritter]

[ QUOTE ]
Some of the guys I was there with played BJ and were bitching about some kind of rake at the BJ tables? What was that all about?

[/ QUOTE ]

It's not real blackjack. Minnesota law prevents Canterbury from having a direct interest in the game. (From a description of their business: "The Company's Casino Games are required by law to be unbanked. Unbanked refers to a wagering system or game where wagers lost or won in card games are accumulated into a player pool liability for purposes of enhancing the total amount paid back to winning players.")

You see the same thing in many California cardrooms.

[PorkchopDJG]

[ QUOTE ]
I was out that way a couple times several months ago during a week long stay in Minneapolis. I was hoping to play some SnGs but they didn't spread them the nights I was there. Should be back next summer again.

Some of the guys I was there with played BJ and were bitching about some kind of rake at the BJ tables? What was that all about?

Overall, was less than pleased with the place.

[/ QUOTE ]

SnG's are on Mon and Thurs but I would advise against them because the structure is brutal.

If you want to play anything other that Poker go to Mystic Lake down the road.

The place is fantastic for Limit Holdem and watching the ponies in the summer but not really any of the other stuff(sucker games, SnG's, tourneys).

[bratwurst]

[ QUOTE ]
[ QUOTE ]
I was out that way a couple times several months ago during a week long stay in Minneapolis. I was hoping to play some SnGs but they didn't spread them the nights I was there. Should be back next summer again.

Some of the guys I was there with played BJ and were bitching about some kind of rake at the BJ tables? What was that all about?

Overall, was less than pleased with the place.

[/ QUOTE ]

SnG's are on Mon and Thurs but I would advise against them because the structure is brutal.

If you want to play anything other that Poker go to Mystic Lake down the road.

The place is fantastic for Limit Holdem and watching the ponies in the summer but not really any of the other stuff(sucker games, SnG's, tourneys).

[/ QUOTE ]

The first night I was there, I think it was a Monday? It was pretty empty. I showed up around 11pm.

I didn't do my research before going, so the second night hoping to find something better I drove down to Mystic Lake and saw nothing but slots. So I ended up back in my car headed to CP. The place was insane packed and streams of people leaving. It was a total zoo! So I stopped some locals heading out and asked them what was up. They looked at me like I was crazy and mentioned $1 bet night on the horses or something.

Anyways, they might have had SNG's running that night but they were ending by the time I got in the room. Good thing I missed them I guess.

[MitchL]

[ QUOTE ]
im still looking forward to coming back and playing live a little, hopefully winning a tournament maybe, 10k in the weekend will do...

30 60 jackpot over the 17th? mmmm, Mr. PokerBob runs bad enough for it to happen

[/ QUOTE ]

I am quitting live until the Fall Classic. Im not good enough to beat the 15 game. I am somehow destroying the internet though. I will build roll until I can play the 30 and 60 limit where they will respeckt my raises.