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Slot machines are close and everyone in Ohio is gearing
up for the upcoming elections—voters, businessmen, the Learn and Earn
campaign, and the racetrack operators. Though voters also have to consider
who to elect for governor, the major issue this election really centers
around the potential addition of slot machines. And everyone seems to have
an opinion about the slot machines, even the Cincinnati Business Committee (CBC)
recently announced their position about slot machines in Ohio.
The CBC, along with other corporate and political leaders in Ohio have
announced that they do in fact support Issue 3 in part because of the $100
million payment over ten years to the economic development fund. This fund
will start receiving slot machine funds in mid-2008, and though the
installments may not be equal if the slot machine amendment passes, the fund
is guaranteed to reach $100 million in ten years or else the casinos
themselves will make up the difference from their own slot machine profits.
Many were surprised that the casino made the offer of ensuring the fund
reaches $100 million. Cynics would say the slot machine operators made the
offer because they are positive the slot machines will generate enough
profits to supply the fund, others note that whatever the operators have to
pay will still be negligible to the amount of profits the will realize over
the course of ten years of slot machines in operation.
And even more notably, with the casinos sweetening the deal, many businesses
are joining the large portion of voters to support bringing slot machines to
Ohio. The Learn and Earn campaign has spent millions on campaign funding to
educate voters as to the benefits slot machines could bring to Ohio’s higher
education. And according to their surveying of voter opinions, it seems that
Issue 3 just might pass this November, and Ohio just might be seeing slot
machines in the near future.
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