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Originally Posted by Kasept
Ostensibly, it appears that the bill is more for allowing re-distribution of existing takeout generated money as much as anything... California has low takeout rates as Hegarty points out (@15.5% on straight and @20.75% on exotics).
The CHRB would have to approve any actual increases that a track/fair/association may want... And while their track record is awful, you would sure hope that they would be made to understand the lunacy of wholesale takeout increases right now on their already beleaguered business.
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Now here's an idea.....handle is down so let's up takeout to offset the losses. The only people hurt are those damn gamblers.
The
wrong measure at the
wrong time with impact felt by the
wrong people....their customers.