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The expansion of the slot machines at Gulfstream Park
is certainly good news for the state of Florida considering they get a hefty
percentage of the slot machines revenue. Once Florida legalized the Class
III slot machines in Broward County, Gulfstream was the first pari-mutuel
betting facility to open 516 slot machines. Now with the success of the slot
machines the racino plans an expansion for the coming year.
So now that Gulfstream Park plans to add 700 more slot machines to their
facility, the revenue from the slots will double in the coming year.
Currently the majority of the slots revenue goes to different areas—to the
state, the county, the city and the Florida Horsemen’s Benevolent and
Protective Association. The percentages of the slot machines revenue breaks
down as follows:
The State: 50%
Broward County and Hallandale Beach: 3.2%
Florida Horsemen’s Benevolent and Protective Association: up to 7.5%
The next planned installment of slot machines at Gulfstream will still keep
the racino under the 1,500 slot machines each slots facility is allowed. And
currently Gulfstream Park seems to be one of the more lenient slots casinos.
Though the state mandates that the machines maintain a 85% payout
percentage, Gulfstream’s machines are higher than that, which means that
players lose less money in the long run—the payout is roughly 90.5%.
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