Virginia Regulatory Town Hall
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9/9/18  2:24 pm
Commenter: MARY WHEATLEY

HHR - Virginia will lose more that it gains over the long haul
 

"Ever since HB1609 began working it's way through the General Assembly, we've heard all kinds of predictions about how much money will be generated by the new [glorified] slot machines, and provide millions of $$$ of revenue to be divided up between the horsemen, state and local taxes, and Colonial Downs. But while these figures have all been presented in general terms, [yet] no one has explained exactly how much money each group will receive."

Is passing HB1609 really such a great idea after all? Only a small amount, hypothetically, 1/5th of gross proceeds will Virginia receive via state and local taxes, and between the horsemen and Colonial Downs (Chicago based entity, profit leaves VA and enters IL) will receive 4/5th of the profit. "Revenue Sharing Agreement"? How does that help all Virginians? It doesn't. Nothing of this deal makes sense. There's gotta be a catch here, some underlying motive among our statesmen (Governor) perhaps? Is there a possibility for anticipated kickbacks?

Anything coming out of Chicago ain't good for Virginians. The benefits versus the profit leaving our state isn't balanced; leans heavily towards the out-of-state'ers. How will it affect the VA lottery and other charitable gaming in our state? There's only so much money in Virginia and if you bring in another way to gamble, then the pot gets disseminated across the scale, more leaving the state than staying here, and will not increase the amount of 'moola' brought in. The current programs help Virginians -- HHR really doesn't assist anything positive; more negative impact on lower income families. It may generate jobs, but I wouldn't hold my breadth on the possibility of increased employment.

The proposed Revenue Sharing Agreement is for 10 years, and at this point in time, Virginians stand to lose on this lousy deal. It needs to be re-negotiated where Virginia receives receives the higher percentage of profit rather than out-of-state interest parties, or our government needs to walk away from the deal, or just repeal the bill.

The fact this was approved without vetting it with Virginians (those communities that will be affected) is a big NO-NO. There's not been any public hearings set up for the local communities to voice their concerns. Alarming! I dearly hope that Orange County is not one of the locales (poor, rural county that promotes tourism and not urban sprawl) that's been pre-destined for these glorified slot machines and doesn't get a say in the matter.

CommentID: 67299