Ohio lottery okays concessions to racetracks

Sep 14, 2009 12:51 AM
Staff & Wire Reports |

The Ohio Lottery Commission has made concessions to the state's horse racing track owners to increase the likelihood they will meet a key deadline for getting video slot machines running by May 2010.

The state agreed to drop a requirement that the owners secure a $52 million performance bond by Tuesday, when the owners must each make a $13 million payment toward their $65 million slots license fee.

Track owners objected to the bond, saying the poor economy made it nearly impossible to secure.

Lottery Director Kathleen Burke said she expects all seven tracks will file applications Tuesday.

Gov. Ted Strickland is counting on the video terminals to raise $933 million in revenue to help balance the state budget.

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