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Author Topic: so long 10th casino money?  (Read 3635 times)
Kenneth J. Chadwick
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« Reply #25 on: November 18, 2008, 08:34:14 AM »

Anytime in IL you raise taxes, it becomes a rat hole.

What happened to all that money when you got the lottery?
Wasn't it to go for education?
Say goodbye.


Kenneth

 
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bjchapin1
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« Reply #26 on: November 18, 2008, 10:10:54 AM »

Continuing Terry's post from yesterday, the SunTimes's lead editorial today:

http://www.suntimes.com/news/commentary/1284593,CST-EDT-edit18a.article
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Earl Sande
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« Reply #27 on: November 18, 2008, 10:15:03 AM »

Why does the Sun-Times have such a hard-on against the racing industry?
That newspaper's level of stupidity has just about eclipsed that of the Tribune!
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Kenneth J. Chadwick
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« Reply #28 on: November 18, 2008, 10:19:38 AM »

Everytime I hear "Why shouldn't we fund education."

Another rat hole.

Did you ever hear, "How about vouchers?"

Who is beholding to who?

It is always shifting money.

How about the roads?

All that money that is collected from the motorist.

How about that money for education, law enforcement etc., etc., etc.


Kenneth 
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BeauNarro
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« Reply #29 on: November 18, 2008, 11:37:48 AM »

I'm still waiting for the 3%---It is well past the 35 days for release of the funds--- What, pray tell, is the hold up.  Thank God for the on going problems at Hollywood Park-- It is a God send for The Thorne---(3 cents per dollar on an extra million is 30K per day)

Joe,
After taxes and the split the 'Thorne only gets almost 1-1/5% which is only 15k per day.
(do you see all the little hands outstretched?? LOL)
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APCD Dan
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« Reply #30 on: November 18, 2008, 12:25:10 PM »

Continuing Terry's post from yesterday, the SunTimes's lead editorial today:

http://www.suntimes.com/news/commentary/1284593,CST-EDT-edit18a.article

We are easy targets even in good times.  Looking at us from the outside, people find us disgusting, greedy, animal abusers.  Of course, that description is not too far from the truth.  Hard to get hand-outs under these conditions.
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CLOCKERTERRY
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« Reply #31 on: November 18, 2008, 12:30:31 PM »

Why does the Sun-Times have such a hard-on against the racing industry?
That newspaper's level of stupidity has just about eclipsed that of the Tribune!

Maybe Jim O'Donnell is behind it.  sneaky
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medic_61353
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« Reply #32 on: November 18, 2008, 12:45:58 PM »

Your editorial about Horseracing Tracks left out some important information. Dunkin Donuts and Starbucks are not regulated by the State of Illinois. They set their hours of operation, location and how best to serve their customers. Horse racing is told, by the State of Illinois, when to race, what can race and at what location. Horse racing has asked for years to have slot machines at their facilities to boost revenues, but the State always says no. Maybe you could have put in your editorial how many millions go to Illinois law makers from the casinos.

Sent to the Sun Times editorial department. Anxiously waiting for reply.
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CLOCKERTERRY
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« Reply #33 on: November 18, 2008, 12:55:54 PM »

Well, one good thing about the current bad times - the State will need more money, and maybe the tracks will get their own slots.
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CLOCKERTERRY
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« Reply #34 on: November 18, 2008, 12:57:48 PM »

Your editorial about Horseracing Tracks left out some important information. Dunkin Donuts and Starbucks are not regulated by the State of Illinois. They set their hours of operation, location and how best to serve their customers. Horse racing is told, by the State of Illinois, when to race, what can race and at what location. Horse racing has asked for years to have slot machines at their facilities to boost revenues, but the State always says no. Maybe you could have put in your editorial how many millions go to Illinois law makers from the casinos.

Sent to the Sun Times editorial department. Anxiously waiting for reply.

What someone really needs to point out is the deal that was made back in 1999 - racing drops its opposition to dockside for the boats, in return for more revenue for racing. The State has realized $100's million more revenue from that. But of course, that's ancient history.
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Earl Sande
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« Reply #35 on: November 18, 2008, 02:36:51 PM »

Maybe Jim O'Donnell is behind it.  sneaky

LMFAO, Terry! With so many cuts in the newpaper business, they probably do have O'Donnell running the editorial page.
 beer
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APCD Dan
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« Reply #36 on: November 18, 2008, 02:48:13 PM »

What someone really needs to point out is the deal that was made back in 1999 - racing drops its opposition to dockside for the boats, in return for more revenue for racing. The State has realized $100's million more revenue from that. But of course, that's ancient history.

Was that the deal that got the tracks property tax breaks?  If it was, then something was received from it, although nothing for the horsemen.

Janine is posting more and more anti-racing news articles.  It looks like the newspapers have found a scapegoat for the state's financial problems:  us!  Also Jim Edgar, about the only Governor to survive scandals, is being tied in with us because of his support for racing.  Maybe this will get him tossed in jail too.
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CLOCKERTERRY
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« Reply #37 on: November 18, 2008, 02:58:42 PM »

Was that the deal that got the tracks property tax breaks?  If it was, then something was received from it, although nothing for the horsemen.

Yes, many taxes were lowered. That's what gave racing the $40 million per year break I have been talking about for a long time. It did help the horsemen, too. The parimutuel tax went down to what, 1.5%? That made more money left of the takeout to split between tracks and horsemen. The tracks also got some other tax breaks, property or something, and I think uncashed mutuels were taken away from the State and directed back to tracks and horsemen. Jim C. would know all the details of what breaks were given in that bill besides casino money and the now unfunded recapture mandate.

Quote
Janine is posting more and more anti-racing news articles.  It looks like the newspapers have found a scapegoat for the state's financial problems:  us!  Also Jim Edgar, about the only Governor to survive scandals, is being tied in with us because of his support for racing.  Maybe this will get him tossed in jail too.

Giant gifts and welfare to racing were plausible when times were good there at the beginning of the Ryan administration. Given what's happened since then, and the current economic climate, it's exactly what some predicted a long time ago: Politicians start casting about for money that would be "better spent".
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BeauNarro
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« Reply #38 on: November 18, 2008, 07:01:39 PM »

The tracks now get the "splits" money for whatever they want to use it for. Years ago the state held the money and the tracks had to "apply" for it by performing Capital Improvements and proving that the work was ok'ed by the state and that it was in fact completed.

The "splits" money is the cents left over on every bet that isn't paid out to the betters. It adds up to sometimes hundreds of thousands per year. This is why you never see a pay-out for amounts like $43.24...you would see a payout of $43.20. The .04 cents goes into the kitty. Think in a year how much that adds up to.
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CLOCKERTERRY
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« Reply #39 on: November 18, 2008, 09:11:32 PM »

The tracks now get the "splits" money for whatever they want to use it for. Years ago the state held the money and the tracks had to "apply" for it by performing Capital Improvements and proving that the work was ok'ed by the state and that it was in fact completed.

The "splits" money is the cents left over on every bet that isn't paid out to the betters. It adds up to sometimes hundreds of thousands per year. This is why you never see a pay-out for amounts like $43.24...you would see a payout of $43.20. The .04 cents goes into the kitty. Think in a year how much that adds up to.

Us regular folk who might wear an occasional python boot call that "breakage", I think.

And, the exact amount is reported by the IRB each year. It's in the millions.
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Moon
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« Reply #40 on: November 18, 2008, 09:27:58 PM »

You need to trade in your python boots for some Prada shoes. Or Massimo, if the Prada's are a little pricey!

/Leave the Gucci's for the Pope.
« Last Edit: November 18, 2008, 09:33:17 PM by Moon » Report to moderator   Logged
medic_61353
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« Reply #41 on: November 19, 2008, 03:24:57 PM »

From today's Sun Times

http://www.suntimes.com/news/commentary/letters/1286922,CST-EDT-vox19a.article
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