A measure that would allow voters to authorize slot machines and table games at the Arapahoe Park racetrack in Aurora, Colorado and two other racetracks in the state is moving closer to fruition. The measure would amend the state constitution.
Supporters last week turned in 130,000 signatures to the Secretary of State, many thousands more than they need. However, voters rejected a similar initiative 11 years ago. First in line to oppose the measure again will likely be the existing casinos in the state, which say they worry that the racino will harm the small gambling towns that the state currently allows as tourist attractions.
If the Arapahoe Park racetrack wins the election it will be able to add 2,500 slots, plus table games.
The other tracks are in Pueblo and Mesa counties.
The proponents of the initiative call themselves Coloradans for Better Schools because some of the extra tax money raised will go for schools. They estimate as much as $100 million would go to the schools each year. The racinos would be taxed at a 34 percent rate, compared to 20 percent for existing casinos.
Opponent Michele Ames of Don’t Turn Racetracks Into Casinos told 9News, “It’s a single company writing itself into the Colorado constitution to allow it to build a casino. I can’t imagine anybody could see it any other way.”
A racino license would cost $25 million, which would be paid directly to the state. The law would only apply to existing racetracks for the first five years.
