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State-owned Slot Parlors Not a Good Bet for Maryland

Slot Machines In Ocean City Maryland City

Originally Published in the Herald-Mail

In a second attempt to legalize slot machine gambling in Maryland, Governor Ehrlich’s new proposal includes two “non-racetrack” slot-machine palaces along the I-95 corridor. This compromise would satisfy House Speaker Busch, who doesn’t believe slots are “good public policy” - except if they’re state-owned and state maintained.

Promoting the Annapolis mantra of “government knows best”, the Maryland Stadium Authority (MSA), contrary to all evidence they claim would build the state-owned slot parlors more cheaply than the private sector as touted by Speaker Busch. Proponents of this option also advocate this would prevent corruption and the enriching of only a select few in the horse racing industry.

If this sounds like a safe bet, Maryland taxpayers should first get a history lesson on how successful the state has been in the “destination resort” business.

The MSA was created in 1986 by the General Assembly to secure long-term state-provided venues for the Baltimore Orioles and a National Football League team. Those goals were accomplished by 1998, yet the entity continues to operate. The MSA has maintained its existence in the same way that many government entities maintain their existence long after their original purposes have been achieved: through “mission creep” into originally unintended and sometimes dubious areas. The entity’s past and present projects include the Camden Station renovation, Hippodrome Performing Arts Center, McIntosh Run golf course, Montgomery County Conference Center, Ocean City Convention Center expansion, Baltimore Convention Center expansion, the John B. Scheurholz Baseball Complex at Towson University, Memorial Stadium demolition, and Ripken Stadium to name a few.

In addition to continuing operating deficits at both Baltimore City and Ocean City convention centers, the state continues its maternal relationship with entities that are unprofitable. While convention centers typically operate at a loss, the MSA is required to contribute two-thirds towards the Baltimore City convention center annual operating deficit, and one-half of the Ocean City convention center annual operating deficit, which combined is over $2 million.

The latest project completed by the MSA is the Hippodrome Performing Arts Center, which recently re-opened after an extensive restoration and modernization. Originally estimated to cost $56 million by the MSA while the General Assembly was considering the legislation, the completed renovation price tag has exceeded $62 million.

By implementing the “Build it and they will come” approach, some Maryland politicians continue to play out their own rendition of the popular movie Field of Dreams coupled with their incantation of “investing in Maryland’s future”, their return on investment has not been too kind to Maryland taxpayers. What should make the construction of slot parlors an exception to this dismal track record?

A good example of this is the embattled Rocky Gap Lodge and Golf Resort in Western Maryland. Complete with a Jack Nicklaus 18-hole 'Golden Bear' Signature Golf Course and dubbed, “a jewel in Allegany County’s economic development crown” by former Governor Glendening, Rocky Gap Lodge is the Hope diamond of political pork projects and solid proof the state is not the savvy Wall Street investor.

Developed by the Maryland Economic Development Corporation (MEDCO), a quasi-public agency created in 1984 that allows the state the ability to directly own or develop property for economic development, Rocky Gap with its continuous financial hemorrhaging has been a financial disaster for the state. Opened in 1998 to much fanfare, Rocky Gap was financed by $33 million in private bond issues and $16 million in state funding. Since 1999, the resort has lost more than $18 million, and according to a 2002 Department of Legislative Services budget report, “continued financial losses in the operation of Rocky Gap impact the MEDCO financial status.” And, in an exuberant effort to keep Rocky Gap competitive or alleviate its financial case of SARS, in April 2003 the Maryland Department of Business and Economic Development (DBED) provided $4 million in loans for Rocky Gap through MEDCO for capital improvements and part of the Rocky Gap financing agreement.

Where there’s a state or county project in fiscal disarray, there’s a line of politicians willing to anti up endless taxpayer dollars to finish the job.

Even in the days of budget deficits and budget cuts, lawmakers continue their capricious relationship with failed projects. Scheduled to open in 2005 and beset with financial problems, the Strathmore Hall Arts Center in Montgomery County will serve as the summer home to the Baltimore Symphony Orchestra. Approved in 2000 with the County Council agreeing the county’s share should only be $45 million with the state sharing some costs, the county-owned project has incurred $9.6 million is cost overruns over the past year. With threats of shutting down the $89 million dollar project, Montgomery County wine-swilling brie-eating arts enthusiasts were rescued this week by the same county council that for a year advocated to not provide more funding to the project approved $6.6 million more in funds, of which $2.1 million was kicked in by Governor Ehrlich in his latest budget.

Big City 5's Slot Machine

Lawmakers in Annapolis should abandon their grandiose dreams of playing a Maryland version of Donald Trump and leave the role of real estate developer to Maryland’s private sector which has a proven track record of efficiency and profitability. Although state-owned slot parlors may seem to erase espoused negatives lawmakers have with slot gaming in Maryland, not only would this endeavor expand the size of government but having Maryland taxpayers believe the state can do it better is a bet taxpayers can’t afford to place.