Greyhound Racing Set for Bingo
6th March, 2008
Yesterday, Wednesday 5th March 2008, a new constitutional amendment has been approved. The amendment will allow the installation of bingo machines at the Mobile Greyhound Park and the Birmingham Race Course.
The vote took place following a public hearing featuring segments from both gambling and anti-gambling advocates.
The amendment will limit bingo machines to these two sites, creating a monopoly on the trade.
The legislation would impose a 20% tax on gross bingo receipts in the two locations, assessed on money left over after payouts but before expenses are calculated. All the tax proceeds would go to Medicaid.
The LFO (Legislative Fiscal Office estimated the measure would bring in approximately $51.7 million a year if both locations installed 5,000 machines and if each machine paid out an average of $150 per day.
