Oct 28, 2007 12:42 pm US/Eastern
Study Finds Slots Could Pay Off For Miami Dade
MIAMI (CBS4) ―
Miami Dade could hit the jackpot if voters approve slot machines for the county's pari-mutuels.
That's according to a new study, commissioned by a pro-slots group, which concluded Las Vegas style slot machines in the county could generate more than $26-million a year in revenue for local governments and create 65-hundred new jobs.
CBS4's news partners at the
Miami Herald report according to the findings of the Coral Gables-based Washington Economics Group Inc., the first full year the are casinos are in operation, they would create 6,497 new, full- and part-time jobs. They would also generate $210 million in new state government revenues; $26 million would go into the coffers of local governments including the county, Miami and Miami Gardens.
The referendum on the January 29th ballot would allow up to two thousand Class III slot machines to be installed at Miami Jai Alai, Flagler Dog Track and Calder Race Course. In the first year, the study projects that the new casinos would generate $376.8 million in revenue, increasing to $542.2 million by 2018.
Gambling opponents say the report doesn't tell the entire because it does not take into account the social costs of more gambling.
Revenues from Class III machines, installed in Broward in 2005, have not met expectations. State economists now expect $83 million less in taxes this fiscal year than they had forecast a few months ago.
(© MMIX CBS Television Stations. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. CBS4 news partner The Miami Herald contributed material for this report)
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