Casinos and taxes: what issue 6 really means

Casino and Taxes

What issue six really means

     Issue 6 is a proposal on the November ballot that would change the Ohio Constitution to allow a $600 million, 94-acre casino resort off Interstate 71 near Wilmington, northeast of Cincinnati. It authorizesor or reserves that specific casino only. According to this amendment, this casino would have to be taxed up to 30 percent of its gambling revenue. That tax money pays for government regulation and gambling treatment programs. Proponents say the casino, could gross or income $800 million a year, meaning an extra $240 million for close government budgets. But here's the tricky, sticky point that opponents call a "loophole": Should another casino open in Ohio, the amendment calls for the Wilmington casino to pay less in taxes. It would lower the rate either to 25 percent or a rate less than the newcomer's whichever is less.
Links: http://blog.cleveland.com/openers/2008/10/casinos_and_taxes_what_issue_6.html  http://www.youtube.com/watch?v=LChoosdcYl8