Installing machines a costly proposition for Louisiana racetrack

Wednesday, March 8, 2000 | 9:21 a.m.

"You could safely say $40 million is a conservative figure," said Ray Tromba, general manager of the 26-year-old track. That price would include the purchase of the slot machines and building a facility to house them, he said.

In the long run, Louisiana Downs could add parking for overnight recreational vehicles, a hotel and restaurants, but a review of the original zoning showed the zoning needed to be expanded to accommodate the additions.

On Tuesday, the Bossier City Council adopted the first reading of a proposed zoning change that would allow the extra amenities.

Metropolitan Planning Commission director Dean Holt said the zoning originally set up for Louisiana Downs did not allow for hotels, convention centers or RV parks.

The change approved Tuesday adds the three to "uses requiring planning approval" in the racetrack's zone. Downs officials will have to seek individual approval for everything it wants to build.

After receiving final legislative clearance for the plan to exchange 750 video poker for 15,000 square feet of slot machines during the 1999 session, track officials anticipated opening the slot facility by January.

But the starting date has been pushed back as more extensive plans have been considered and the racetrack goes through the regulatory approval process required by the state Gaming Control Board.

Plans now call for the track to open a slot facility later this year, but Tromba said an opening during the racing season has not been ruled out, even though no construction or renovation has started.

"If it takes a little bit longer than we planned, that's OK," he said. "We're in it for the long haul."

Two sets of architects are working on interior and exterior plans now, and since gaining legislative approval, track officials have bumped up race purses twice for a total increase of 44 percent to $175,000 per race day.

Horsemen get the first 18 percent of the additional revenue from the slots at the track, even before the state's taxes are applied. Legislation for Louisiana Downs' slots-at-the-track facility set the state tax rate at the same level as taxes on riverboat casinos, currently 18.5 percent.

Track officials are in the process of securing financing for the changeover to slots, and the project will probably be completed in phases.

"We have a lot of questions to ask ourselves," said Tromba. "That includes, do we wait and open in a full-fledged manner, or do we open knowing something better is down the line. I think we're probably going to open in stages."