Indiana

Slot machines are on the way to two Indiana racetracks --- if the parks pay up. Hoosier Park and Indiana Downs will be allowed to house 2,000 slots each, at the price of $250 million up front plus a $100 million-or-more investment into their properties. It could have been worse; lawmakers in the state Senate, which is Republican-controlled, initially wanted to charge the tracks $400 million each for rights to operate 1,500 games. It would have been the highest fee for slot machines in the United States. There was even talk that, if the price wasn't right for the tracks, slot machine rights could be auctioned off to the highest bidder --- be it a casino or another interested party. In the Democratic House, lawmakers initially approved a bill that would have charged the tracks $100 million each for the rights to operate 2,500 slot machines. According to the American Gaming Association, 11 states allow slots or other forms of gambling at racetracks, and only two charge hefty up-front fees. Pennsylvania tracks paid $50 million for the rights to 5,000 machines, and Florida charges $3 million per year for licensing. Gov. Mitch Daniels, who previously has been opposed to gaming expansion, said he planned to sign the bill as of CEM's press time. It will be the first major gambling expansion in the state since riverboat casinos got the green light in 1993.