Owner of Laurel Park uncommitted on financing slots lobby

Magna Entertainment Corp. reviews options after posting a $43 million loss

‘‘We’re reviewing all options right now, and until we’ve decided [our position on the slots], we won’t be making any comment,” said Bill Ford, legal counsel for the company.

A November referendum will decide if and where slots will make their homes in Maryland. Among the location choices is the Anne Arundel County racetrack, which is located between Washington, D.C., and Baltimore.

Legislation passed by the Maryland General Assembly last year during the special session specifies that the city is to get 12 percent of the net proceeds from the slots after all other distributions are made.

‘‘If [slots] do come, we expect to be compensated with impact fees,” said Michele Saylor, director of budget and personnel services for the city of Laurel. ‘‘Clearly there would be a lot more traffic through the city.”

Frederick Puddester, chairman of the pro-slots group For Maryland, For Our Future and a senior associate dean at Johns Hopkins University, said he wasn’t yet worried about Magna’s contribution to the pro-slots campaign.

‘‘I’m not so worried about Magna at this point and what their financial situation is; I’m just sort of focused on getting this thing passed,” said Puddester, a former budget secretary for the state. ‘‘What [slots] mean for the state budget is some $700 million to fund state programs. Once that gets fully out into the public, I think there will be a broader base of support.”

Puddester said he didn’t see any positive fundraising alternatives to slots.

‘‘I look at the practical alternatives to this referendum and I see them only as being higher taxes or cuts to funding of other state programs,” he said.

Mike Hopkins, executive director of the Maryland Racing Commission, said his agency supports the referendum because slots would be good for the racing industry.

‘‘The models that are out there, when you look at [places] that have these [slots] facilities, it generates revenue,” Hopkins said.

Cricket Goodall, executive director of the Maryland Horse Breeders Association, said she hopes Magna does contribute to the push.

‘‘Everyone in racing actually supports slots at the track,” she said. ‘‘We’re hopeful Magna participates—obviously it’s in their best interest. It’s critical to the horse-breeding industry. There is no future for horseracing without the referendum passing.”