Anonymous wrote:Anonymous wrote:Is the intention that this casino will be financed the same way as the arena in Potomac Yard?
In other words, will Virginia taxpayers be on the ok if the promised returns don’t happen?
No. This casino would be financed primarily by a Saudi Arabia investor. The casino owners would retain 82% of first $200 million in gambling receipts, 77% of the gambling receipts between $200 million and $400 million, and 62% of the gambling receipts above $400 million.
Of the remaining gambling receipts, the State Treasury would get 30% of the 38% and Fairfax County would get 8% of the 38%.
Anonymous wrote:Anonymous wrote:What a farce. The money won’t be seen by residents. I don’t care where the propose building in Fairfax County, I do not support it. It is not the kind of business I or my friends anticipated.
It will be like the lottery. “Do it for the kiddies! Do it for schools.” Well, all that lottery money goes into a general fund that doesn’t 100% go to schools like they want people to think.
Isn’t enough that we have phone, drug and other addiction issues? Do we have add casino gambling to the mix????
This. It would do anything but benefit schools in Fairfax. Louise Lucas might siphon off a few dollars for some school in Portsmouth, but that’s about it.
Anonymous wrote:Anonymous wrote:Is the intention that this casino will be financed the same way as the arena in Potomac Yard?
In other words, will Virginia taxpayers be on the ok if the promised returns don’t happen?
No. This casino would be financed primarily by a Saudi Arabia investor. The casino owners would retain 82% of first $200 million in gambling receipts, 77% of the gambling receipts between $200 million and $400 million, and 62% of the gambling receipts above $400 million.
Of the remaining gambling receipts, the State Treasury would get 30% of the 38% and Fairfax County would get 8% of the 38%.
Anonymous wrote:Lucas, as chair of the Senate Finance Committee, will have a substantial say on if the legalization occurs.
Lucas’ campaign has received more than $250,000 from casino owners and casino interests in the last five years according to campaign finance reports compiled by the Virginia Public Access Project.
In the last year, she has received a combined $105,000 from Va Operators for Skill and Pac-O-Matic the manufacturers of the Queen of Virginia Skill Games.
https://news.yahoo.com/state-sen-lucas-explains-why-040532738.html
Anonymous wrote:Is the intention that this casino will be financed the same way as the arena in Potomac Yard?
In other words, will Virginia taxpayers be on the ok if the promised returns don’t happen?
Anonymous wrote:What a farce. The money won’t be seen by residents. I don’t care where the propose building in Fairfax County, I do not support it. It is not the kind of business I or my friends anticipated.
It will be like the lottery. “Do it for the kiddies! Do it for schools.” Well, all that lottery money goes into a general fund that doesn’t 100% go to schools like they want people to think.
Isn’t enough that we have phone, drug and other addiction issues? Do we have add casino gambling to the mix????