More Slot Machines for Gulfstream

Gulfstream Park Racing and Racino has announced that they will be installing another 700 slot machines. The racino was the first Florida pari-mutuel to have slot machines, with 516 slot machines running at this time. They are planning on adding the slot machines during this year’s first quarter on the south side of the building’s first floor.

The Florida government gets 50% of the revenue from the slot machines to go toward education throughout the state, so they are more than happy that the racino is doing well enough to add more slot machines to the pot. Another 3.2% of the slot machine revenue gets divided up between Broward County and the city of Hallandale Beach. The Florida Horsemen’s Benevolent and Protective Association gets their slot machine revenue on a sliding scale, where they can get as much as 7.5% depending on the number of slot machines operating.

The racinos are allowed by law as many as 1,500 slot machines each, and this addition by Gulfstream will keep them under their allotted amount. The state has already received roughly $2.65 million from the slot machines. The state requires the racinos to return at least 85 cents on the dollar to the slot machine players, but Gulfstream is currently paying out around 90.5 cents – based on the calculations that players had put $55.6 million into the slot machines.

 

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