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Article: South Florida operators pledge 30 percent of slot-machine profits for schools.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- October 28, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Linda Kleindienst, South Florida Sun-Sentinel Knight Ridder/Tribune Business News
Oct. 28--TALLAHASSEE, Fla. -- If Florida voters open the door for slot machines in Broward and Miami-Dade counties, the tracks and frontons set to benefit have signed an agreement to hand over 30 percent of their slot profits to schools throughout the state -- even if the state Legislature never votes to levy a tax on them.
Seven pari-mutuel facilities in the two-county area have signed a legal agreement with the Florida School Boards Association to hand over profits that they estimate could reach $438 million in the first year and $2.5 billion over five years.
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