[ Home ]

[ Slots News ]

The Time May Not be Right for Texas Slots

Texas is on the bandwagon of state legislatures hoping to boost tax revenues by considering expanded legalized gambling in the form of slot machines. Despite the significant economic benefits of bringing pokies to the Lone Star State, however, it may ultimately be the case that 2009 is not the year for slot machines in Texas. There are just too many concerns about the recession and the detrimental impact it has had on the racing industry. The widely held belief is that the addition of slot machines will boost racetrack attendance, and therefore increase prize purses and lead to the acquisition of better horses, which provide more of a draw.

This is a gamut that, unfortunately, has not worked out in other states where it has been attended. Indiana opened two “racinos” within the past twenty-four months, and lawmakers in that state are already being asked for bailout funds to help the struggling sites. Maryland fought hard for voter approval to install slot machines at several racetracks, and has failed to garner enough acceptable bids to open up these establishments. In New Hampshire, a House concerned about the “social ills” of increased gambling shot a pair of slots bills down by an overwhelming margin.

Some experts are starting to believe that nothing is going to save the declining sport of racing, and that slot machines are certainly not the magic bullet that gambling proponents are making them out to be. Another problem is that many of the casino companies that Texas would be banking on to submit proposals are in no position to be opening new casinos, given the current state of their finances in the precarious economy.

Back to March 2009 Archive.