NJ Gambling Summit Live at Meadowlands

[Canarsie]

http://www.ustream.tv/channel/summit...medium=5635580

[InsideThePylons-MW]

Just amazing.

Everybody just wants slot/casino welfare to prolong the life of a dying industry.

When asked about what racing can/will do to help/change their product to be prosperous in the future........no answers of any importance....sports wagering??? WTF? exchange wagering were the great ideas.

This is scary how pathetic this is.

[onefast99]

Here is the meeting in a nutshell, just so no one else can come on here and bash the NJSEA and horse racing in the State of NJ without knowing where previous monies from the industry have been spent and why taking profits from the NJSEA and sending them to Atlantic City isn't equally considered welfare.

NJ Racing Interests Seek 'Diversification'

By Tom LaMarra
Updated: Friday, September 10, 2010 1:21 PM:New Jersey lawmakers split along geographical boundaries during the second “summit meeting” on gaming and horse racing Sept. 10, with those from North Jersey saying slot machines at Meadowlands should be considered, and those from South Jersey seeking to protect the Atlantic City casino industry’s monopoly in the state.

The meeting, held at Meadowlands, didn’t break new ground but did shed light on the restructuring of racing in the wake of the less-is-more Monmouth Park meet this year and calls by Gov. Chris Christie for racing to stand on its own.

~~read the rest at the link below~~

http://www.bloodhorse.com/horse-raci...iversification

[Robert Goren]

Originally Posted by onefast99

Democratic Sen. Ray Lesniak claimed the state has been subsidizing casinos by charging them a state tax rate of only 8% and granting gaming halls numerous legislative breaks over the years.

I am a fairly liberal democrat, but even I have a problem when someone says "low" tax rate is a subsidy.

[The Hawk]

Originally Posted by Robert Goren

I am a fairly liberal democrat, but even I have a problem when someone says "low" tax rate is a subsidy.

Call it what you want but it's a break that the racetracks don't get, yet when they tally up the bottom line that's never taken into account. Nor is the money bet at the OTBs, which are profitable, yet they stopped building them even though legislation calls for another 12.

[Kelso]

Originally Posted by The Hawk

Call it what you want but it's a break that the racetracks don't get

So at what rate, exactly, do the tracks pay a tax on either their revenues or profits?

And that 8% ... against what is it levied?

[Kelso]

Originally Posted by onefast99

Here is the meeting in a nutshell

More like in a nut-shill. LaMarra knows his bread is buttered by the selfish horsemen who read BloodWhores.

Surely you're not suggesting objectivity, in anything written about the prospect of further subsidizing racing, from that propaganda sheet.

[Robert Goren]

Originally Posted by The Hawk

Call it what you want but it's a break that the racetracks don't get, yet when they tally up the bottom line that's never taken into account. Nor is the money bet at the OTBs, which are profitable, yet they stopped building them even though legislation calls for another 12.

Monmouth Park and the Meadowland do not pay any taxes because the owned operated by the state of NJ. Next time check the facts before you show the world ignorance. It is really hard to have a discussion with people who don't know what they are talking about.

[David-LV]

Originally Posted by Robert Goren

It is really hard to have a discussion with people who don't know what they are talking about.

Sort of like you !!!

__________
David-LV

[Robert Goren]

Originally Posted by David-LV

Sort of like you !!!

__________
David-LV

Touché

[GARY Z]

Despite the differences in opinion and heated discussions that
go 24/7 on this Board, please take a moment and join as one in prayer
for those innocent people who died on Septmeber 11,2001.

[The Hawk]

Originally Posted by Robert Goren

Monmouth Park and the Meadowland do not pay any taxes because the owned operated by the state of NJ. Next time check the facts before you show the world ignorance.

"Monmouth Park and the Meadowland do not pay any taxes because the owned..."

"The owned"? Maybe you should learn how to write a sentence at a 5th-grade level, at least, before you "show the world ignorance" [another winner], and in your case, stupidity.

Once again, you take a post a twist it to fit your idiotic stance. I used the term break not in terms of the tax rate but in reference to another concession that the racetrack doesn't get. The point is that every possible negative is factored into the racetrack's equation -- they point to how much it loses without factoring in all the money generated -- but when it comes to the casinos there's no talk of the money the state spends cleaning, policing, and promoting that ghetto. They are given every possible "break". What does Monmouth get? They get OTB's built 20 miles away, but that money isn't supposed to count anymore.

How about the money spent on the AC Expressway, to make it a more enjoyable trip? How about the NJ Transit bus station? The fact that there's a NJ Transit rail stop there? How about that express train from NYC several times a day, the promotion and operation of that? How much do you think that costs? Do you think the casinos paid for that? NJ Transit did away with the train that rolled into Monmouth Park. Sure, there's a stop now, 300 yards away, only on race days, never for simulcasting. The AC trains run everyday.

How about the smoking ban that was lifted in some parts of the casinos? Is that not a break? In what other public building in the state can you smoke? And, if you want to talk tax breaks, how about the tax breaks Revel is getting?

Originally Posted by Robert Goren

It is really hard to have a discussion with people who don't know what they are talking about.

Believe me, we all know all about it.

[onefast99]

Originally Posted by Robert Goren

Monmouth Park and the Meadowland do not pay any taxes because the owned operated by the state of NJ. Next time check the facts before you show the world ignorance. It is really hard to have a discussion with people who don't know what they are talking about.

Really?

The New Jersey equine industry is valued at $4 billion and generates $1.1 billion ($780 million due to racing) annually in positive impact on the state economy. It is responsible for 13,000 jobs, more than half of which are generated by racing-related interests such as race tracks and horse breeding and training facilities. The New Jersey equine industry pays an estimated $160 million annually in federal, state, and local taxes ($85 million generated by equine operations and owners and $75 million generated by New Jersey racetracks).

[The_Knight_Sky]

The third summit is slated for Monmouth Park on September 29th.

read and view more images at: the TKS blog

[alhattab]

Originally Posted by Robert Goren

Monmouth Park and the Meadowland do not pay any taxes because the owned operated by the state of NJ. Next time check the facts before you show the world ignorance. It is really hard to have a discussion with people who don't know what they are talking about.

Robert- just stop. Seriously. As Onefast pointed out with his facts, this comment shows how utterly clueless you are about how things work here. Stick with your general crusades to lower the takeout and rid the industry of all slots subsidies- both noble causes.