Israel to shut down state-sponsored gambling

The Finance Minister shut down 500 slot machines and 150 keno machines.

Israel.- The Mifal Hapayis national lottery was forced to shut down 500 slot machines along with 150 keno machines after negotiations with the Finance Ministry to renew its operating license failed to reach an agreement.

Even though they agreed to extend the national lottery’s license for 48 more hours in order to facilitate the meetings, they set up the condition that they would have to switch off the slot and keno machines immediately. Finance Minister Moshe Kahlon, said: “Eighteen months ago I said there would no longer be slot machines in Israel, and I am very happy that from today, there aren’t any anymore. I am hurt by the thousands of families that have lost their property, their money, their homes and even their families.”

According to Haaretz, Mifal Hapayis gets US$208 million from the machines, and they’re demanding a compensation of the money that they would lose without the operations. The profits from the machines are actually split between the local governments and the treasury, who use them to fund public facilities. The Finance Ministry believes that the number is considerably lower than the one they’re demanding because they’re giving them the chance to conduct extra lotteries.

Mifal Hapayis is close to an agreement that would reduce 7.5 percent of the earnings to 7 percent. It is expected that the losses would be shared 75-25 between the local governments and the treasury.

Did you like this article?