Sunday, March 4, 2012

KEY STATE SENATOR OFFERS DEAL ON VLT PROFIT SPLIT.(CAPITAL REGION)

Byline: JAMES M. ODATO Capitol bureau

Albany A key member of the state Senate thinks he has brokered a plan that will spur the installation of video lottery terminals at tracks.

Sen. William Larkin, R-New Windsor, chairman of the Racing & Wagering Committee, said his plan would give more money to racetracks and purses but reduce the pool of prize money for VLT bettors by 1 percentage point.

Larkin's plan also would fund programs for compulsive gamblers while raising more than $600 million in revenues for education in the next fiscal year.

With tracks resistant to the idea of setting up VLTs based on the commissions they would receive …

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