The Slots Are Coming to South Florida

Gulfstream Park and three other pari-mutuel venues in South Florida finally hit the jackpot. The quartet will install Las Vegas style slots during the summer of 2006.

The good news: Florida lawmakers gave their approval nine months after Broward County residents voted for slots. Gov. Jeb Bush, who called a special legislative session in December to enact regulations, said he would sign the bill into law before the summer is out despite his opposition to gambling.

The bad news: The tax rate was set at 50 percent, one of the highest in the country. Combined with requirements for pari-mutuels to hand over some profits to the county and cities as well as horse and dog breeders as well as owners, some officials pegged the actual tax will be closer to 65 percent.

"I think it's setting them up for failure," state Sen. Steve Geller, one of the most vocal opponents of gambling who represents the district that includes Gulfstream, told the media: "I believe they are doing this so the governor can lead a repeal campaign and say, �See? Look what you have instead of those nice facilities you were promised.' "

In addition, legislative gambling opponents remain hopeful they can reverse the course by bringing up a measure to put a slots-repeal question on November's ballot.

Surprisingly, regulations for slots passed by whopping margins of 112-6 in the House and 33-7 in the Senate.

Gulfstream, Pompano Park harness track, Hollywood Greyhound track and Dania Jai-alai Fronton can install 1,500 machines each and operate them 16 hours every day of the year.

Under the agreement, the state Division of Pari-mutuel Wagering will have six months to develop regulations. If nothing were accomplished within that time period, emergency rules would be implemented to allow machines to be installed.
Gulfstream, in the midst of a massive $171 million renovation, plans to install slots on every floor of its main new building, which should be completed in 2006.�

"I imagine we'll have to go back to the drawing board," said Dick Feinberg, general manager of Pompano Park.
"The higher the tax, the more difficult it is to justify an investment."