State Grapples Over How Much Casinos Would Bring In
TALLAHASSEE, Fla. (CBSMiami.com/NSF) – As the fight over proposed destination casinos hits the state legislature; preliminary estimates from the state say the move could bring in more than $100 million to the state in the first year.
State officials said the casinos would bring in $155 million in 2012-2013 and have the potential to bring in approximately $319 million in tax revenue over the following three years, according to the News Service of Florida.
State economists said the estimates are “conservative” and didn’t add in any potential revenue coming from property taxes.
According to Genting Americas, which is one of the companies pushing the destination casinos bill, the economic impact of the casinos is between $400 and $600 million in taxes, according to the News Service of Florida.
Still, economists with the state couldn’t come up with a final number for legislators.
The main stumbling block on Friday was deciding how to track tourists coming to the destination resorts.
Some assumed the casino-goers would be primarily Florida residents, which brought the numbers down.
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