Casino operators expressed their support to the new tax legislation in Indiana State.
US.- Indiana casino companies said the new tax legislation would lead to further financial benefits for the state’s funds, including social services in host communities. On May 2, Indiana Governor Eric Holcom signed the House Bill 1350 into law, although counties’ governments publically expressed their disagreement with the tax and revenue bill.
A week later, casino operators responded that the new law would help Indiana’s financial structure as it would boost international investments. “Boyd Gaming strongly supports House Bill 1350, which we see as a very positive step for Indiana’s gaming industry. It will provide our industry with stability from a tax perspective, and it will encourage additional re-investment in Indiana,” commented David Strow, a spokesman for the Blue Chip Casino and Spa, to Chicago Tribune.
However, host counties’ lawmakers assured the legislation “breaks promises” and “drains local budgets.” But latest statements by Indiana casino companies suggest upgraded tax bill increases the competitiveness. The new legislation dismisses an add-back tax, which is replaced by a supplemental tax based on gross gaming revenues from the company.
“We are encouraged that the state is supportive of a few measures that will enhance the competitiveness of our casino operations. They recognize that no other business in the state is required to pay income taxes on other state taxes, which as we know, are quite significant,” revealed to Chicago Tribune Dan Nita, senior vice president and general manager of Horseshoe Hammond Casino.