by Ray Poirier | Billionaire gaming entrepreneur Phil Ruffin appears to be making progress in Kansas where he has been arguing that the state’s tax on slot machine revenue at its three horse and dog tracks is too high.
The law requires that the tracks turn over 40% of its revenue to the state and another 20% to local governments. Ruffin says that without reducing the tax to a more equitable 32% or less it won’t be possible for the tracks to operate the slots and the required 150 live racing days and make a profit.
Senate President Steve Morris has gone on record as suggesting the legislature might revisit the gambling law when it returns in January.
The biggest problem, however, is that like most states Kansas is facing a huge budget deficit that will require cutting spending, increasing revenue or both.