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West Virginia tracks could win with sports betting measure

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By JOSELYN KING

The Intelligencer and Wheeling News-Register

Wheeling Island Hotel-Casino-Racetrack could eventually host sports betting, pending action by the West Virginia Legislature.
(Intelligencer photo by Casey Junkins)

WHEELING, W.Va.  — Wheeling Island Island Hotel-Casino-Racetrack and Mountaineer Casino Racetrack and Resort could get a boost if West Virginia allows sports betting, while hundreds of new jobs may come to the Northern Panhandle, new research shows.

State lawmakers have received a report from the Eilers and and Krejcik gaming research firm proposing that 699 full-time jobs could come to local tracks in the next five years as a result of sports betting, with another 233 resulting elsewhere. They estimate a total of 931 additional full-time jobs in the state within a five-year period, and an economic impact of $229 million by the fifth year from sports betting.

Based on a proposed state tax rate of 10 percent on general gross revenues from sports betting, the firm also predicts an additional $13.4 million in annual tax revenue coming to the state in the first year of sports betting, with the amount rising to $28.7 million by year five.

Read the entire article: http://www.theintelligencer.net/news/top-headlines/2018/02/west-virginia-tracks-could-win-with-sports-betting-measure/

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