Pipedreams go poof!
State reduces estimate on city's slots revenue State reduces estimate on city's slots revenue
Who woulda thunk it.
The over-hyped gambling incomes are now not what was promised. Nor are the new incomes to arrive when they were expected.
Too little. Too late.
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This headline is extrememly misleading. They have not reduced the estimate as much as they have updated the timing of the casino openings.
Subsequently, a lawsuit by gambling foes slowed state progress on granting slot machine licenses.
The state Supreme Court ruled in June that key parts of the slots law are legal.
The delay means it will take longer for the state to fill the development fund. Masch noted that the Legislature must approve allocations from the fund.
"The only question is when that will happen," he said.
They still have not changed the estimate of taxes for a 100% operating casino.
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