124th MAINE LEGISLATURE
		LD 1808		LR 2625(01)
	An Act To Allow a Casino in Oxford County
	Fiscal Note for Initiated Bill
	Committee: Legal and Veterans Affairs
	Fiscal Note Required: Yes
Fiscal Note
Contingent future biennium cost increase - General Fund Contingent future biennium cost increase - Other Special Revenue Funds Contingent current biennium revenue increase - General Fund Contingent current biennium revenue increase - Other Special Revenue Funds
Fiscal Detail and Notes
	If enacted, this legislation is contingent upon approval of the voters of the local governmental body where the casino is proposed.  Presented below is an estimate of the potential revenues that may be generated from a casino in Oxford County and the subsequent distribution of those revenues.  This estimate assumes the facility would operate 1,000 slot machines and 54 table games and indicates a potential annual distribution of revenues of $2,123,550 to the State's General Fund and $25,765,740 to Other Special Revenue Funds.  The General Fund would also receive license fees of $649,900 in the first year and $274,650 for license renewals in subsequent years.  Annual state costs associated with Inspectors, a State Police Detective, a Clerk IV and related costs are estimated to be $1,165,178.  The timing of these impacts will depend on the timing of the local vote and the amount of time needed for construction and opening a new facility.
	This analysis assumes no significant effect on revenue generated at the licensed racino facility in Bangor. That effect may depend on the location of the new casino.  If there is an appreciable reduction in racino revenue, there will be a reduction in the amounts of revenue distributed from that facility.
						Annual
	Summary of Casino Revenue					Estimate
	Gross Slot Income (total value of money, tokens, credits, other value used to play a slot machine)					$653,400,000
	Player Payback  - Slot Income (assumed at 91.55% of gross income)					$598,187,700
	Gross Table Game Income (total value of money, tokens, credits, other value used to play a table game)					$184,292,308
	Player Payback  -Table Game Income (assumed at 91.55% of gross income)					$168,719,608
	Net Slot Income (gross slot income - player payback)					$55,212,300
	Net Table Game Income (gross table game income - player payback)					$15,572,700
	State Share of Net Income (46% of net slot income and 16% of net table game income)					$27,889,290
	Operator Share of Net Income (54% of net slot income and 84% of net table game income)					$42,895,710
						Annual
	State Revenues by Fund					Estimate
	General Fund
	Administration (3% of net slot income and 3% of net table game income)					$2,123,550
	Total General Fund Distribution					$2,123,550
	Other Special Revenue Funds
	K-12 Essential Programs and Services					$15,360,345
	Maine's Penobscot and Passamaquoddy Indian Tribes					$2,208,492
	University of Maine System Scholarship Fund					$2,208,492
	Agricultural Fair Support Fund					$552,123
	Municipality in which casino is located					$1,415,700
	Maine Community College System Scholarship Programs					$1,656,369
	Fund to Supplement Harness Racing Purses					$552,123
	Sire Stakes Fund					$552,123
	County in which casino is located					$707,850
	Maine Dairy Farm Stabilization Fund					$552,123
	Total Other Special Revenue Funds Distribution					$25,765,740
	Other Revenue Impacts to the State
	License fees to the General Fund - 1st Year					$649,900
	License renewal fees to the General Fund - After 1st Year					$274,650
	Summary of Expenditure Impacts to the State
	General Fund
	- Public Safety					$1,165,178