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Decades-old restrictions and tax mechanisms are placing burdens on Indiana gaming, creating huge obstacles for us to compete with neighboring states. These current regulations were put in place to maximize state revenue while allowing casinos to run their businesses and create Hoosier jobs.
It has been a good model for nearly two decades, but the environment in which our state casinos operate has changed. As other states modernize, it’s becoming cheaper to go to their gaming facilities and our casinos are losing business.
That’s why I’ve authored a bill this session to help Indiana’s casinos respond to these changes. The proposed bill gives our state’s gaming industry more flexibility and strategic financial incentives to help it compete with other states. In its current form, the bill would enable riverboat casinos to create land-based facilities on their current property, permit table gaming at racinos and make changes to the gaming tax structure, including allowing the state to tax revenue instead of admissions.
These changes better match what other states are doing to protect their gaming-generated revenue, and will help make sure our casinos aren’t losing patrons to out-of-state competitors.
This bill is not about expanding gaming. We will continue to protect the integrity of our state by ensuring gaming facilities operate under the highest ethical standards.
This bill is entirely about promoting economic development and protecting our state interest in the industry. If we do nothing, we stand to lose upward of $47 million just this year.
My colleagues and I have spent a great deal of time working on this bill, seeking input from those affected locally and making revisions as different concerns were brought to our attention.
I’m confident the proposed changes will bring more people back to our gaming facilities instead of those in neighboring states, offsetting projected state and local revenue losses.
The bill recently passed the full Senate and now moves to the House of Representatives for further consideration.
It’s no secret Indiana’s gaming industry faces long-term challenges. But I believe the General Assembly can pass a bill this session that enables casinos to effectively respond to changing market conditions while protecting the vital state revenues that this industry has always generated.
http://www.jconline.com/apps/pbcs.dll/article?AID=2013303110008
