Speaking of lying sacks of shit, how about David Fretz, president of Great American Gaming, a wholly-owned subsidiary of loanshark-infested Great Canadian Gaming of Richmond, B.C., who operates four of Washington’s largest non-tribal casinos. When The Seattle Times asked him to comment on Initiative 892, he blustered:
“Why don’t you talk to Tim Eyman? It’s his initiative, OK?”
Ewwww… what’s that smell?
As I’ve previously explained, hiring Tim to front this steaming pile of legislative excrement may have been a clever exercise in branding, but I-892 has always been more a Great Canadian initiative than an Eyman one.
Great Canadian is I-892′s biggest financial backer… $210,000 thus far (that we know about.) Great Canadian has the most to gain from I-892… over $20 million a year from slots, at their four existing casinos. And Great Canadian has been pushing virtually identical legislation for the past three years, as one of the dominant forces behind the Recreational Gaming Association and the Entertainment Industry Association.
Great Canadian CFO Anthony Martin brags to investors that their Washington casinos were “purpose built” with a special raised floor, in the expectation that I-892 would introduce slot machines into their “local community casinos.” Really. It’s on video.
But it’s not simply the opportunity to expand their addictive wares into Washington neighborhoods that excites Great Canadian, it’s the fact that our ass-backwards gambling taxes would make Washington slots nearly three times more profitable than those north of the border.
In British Columbia, a monopoly market with limited licenses, the taxation rate is 61 percent on table games, and 75 percent on slots. Washington, with unlimited licenses and local gambling tax rates of up to 20 percent, is a land of opportunity by comparison.
By comparison, under I-892 the state taxes slots at 35%, cutting out local gambling taxes entirely.
The Canadian tax model is more the norm than the exception. Indeed, taxpayers in neighboring Oregon get 71% of the take from video poker machines, more than twice what I-892 gives Washingtonians.
Think about it. If this was truly an “Eyman initiative”, he could have doubled the promised tax break, by cutting taxpayers a larger share.
Instead, for a $47,000 salary he sold out to I-892′s real sponsor, Great Canadian. They got a sweet deal. But it sure does stink.