Committee scrutinizes Slots revenue
The legislative committee that oversees the state's gambling operations met yesterday in the first of several planned sessions to examine how money from Hollywood Slots is dispersed to various state entities.
A potential $1 billion budget shortfall prompted the Legislature to more carefully examine where state money is allocated and require that the gambling allocation formula be analyzed on an annual basis. Members of the Legislature's Legal and Veterans Affairs committee expressed concern over whether the money from Hollywood Slots is directly funding what voters approved seven years ago, according to the Maine Public Broadcasting Network. The state received $27 million from Hollywood Slots last year, $7 million of which went to the harness racing industry, a gambling addiction program and off-track betting facilities. About $1.5 million went to scholarships and $5 million to the Healthy Maine Fund's prescription drug program.
Voters in 2003 approved the Bangor facility in a referendum question that directed 39% of the facility's revenue to fund various state initiatives and entities, including higher education scholarships and programs to lower prescription drug costs, and changes made in 2004 directed money to the state's harness racing industry. The committee plans to track exactly how much money was directed to each initiative and recommend any changes that need to be made, according to the Bangor Daily News. Hollywood Slots officials attended the meeting but did not address the committee.
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