Slot Machines Make their Mark in Guam
Many countries are looking for new ways to generate income. Guam joined in the group due to some new legislation that is coming known in the country. Recently the country introduced the “Initiative to Revitalize Tourism in Guam and Generate Revenue for Health Care and Public Education by Allowing Slot Machine Gaming. The initiative is also known at Proposal B. The movement will legalize slot machinhound racetrackwhere gambling is already allowed. Guam Greyes at the Guam Greyhound a racetrack that is looking to move into a “racino” status. Racinos are a new wave in the world of gambling and include race tracks with slot machine parlors. The combination is proving to be lucrative for racino owners. Due to race track numbers being down as a result of the recession, they had to make serious moves to bring more customers in, consistently. They are finding that bringing slots games has been one of the most lucrative decisions available.
As far as Plan B is concerned, it would allow Guam Grehound to have a slots parlor. The largest denomination coin would be a $5. The proposal also states that 10% of the racino’s gross income from slot machines would go to the local government in the form of an annual tax on the slot machine revenue. This tax, would in turn, be used to fund health care costs, education, prescription drugs, building of a city center, infrastructure and other programs for the betterment of the communities involved. Overall, many believe that the funds would help to save the community and allow them to build up the country’s programs and help residents.
Like with any other country, slot machines are getting their own push from the opposing side. The Guam Greyhound will have 200 slot machines and create 500 new jobs for area residents. In addition, the business is hoping that tourism will increase as a result of the expansion of the race track. The problems that critics are citing to come along with the racino are the increase in gambling addictions. They believe that expanding to include a racino will only increase the amount of addictions in the area. The social cost of paying for gambling addiction treatment, the increase in the crime rate and other social problems will not be defrayed by the 10% tax, as critics note.
