BUSINESS

Czech prez vetoes municipal control over video gaming terminals

TAGs: video gaming terminals

Czech Republic president Václav Klaus has vetoed an amendment to gaming regulations that would have shifted control over slot machines from the Finance Ministry into the hands of individual municipalities. There are over 60,000 machines nationwide generating about $3B per year — much of which flows to sports, schools and hospitals — and Klaus was concerned that (a) no provisions had been made to replace these funds and (b) the cost of potential litigation by gaming companies if municipalities shut the machines down. Czech, mate. Read more.

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