Greenetrack CEO to Host Press Conference on Future of Gaming Complex

The CEO of the Greenetrack gaming complex in Eutaw Alabama will host a press conference there Tuesday to discuss the future after the Alabama Supreme Court ruled that Greenetrack owes the state more than $76 million in unpaid taxes and penalties.

Greenetrack CEO Luther announced the press conference to local media Friday afternoon.

"Can we afford to just sit back and do nothing?" Winn wrote. "It's a question of survival!"

Winn's press release did not say what he would announce or propose at the press conference, only that it would begin Tuesday at 10 a.m. in the Greenetrack parking lot.

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As the Thread previously reported, the Alabama Supreme overturned two previous rulings last month and decided that Greenetrack owed the state more than $76 million in unpaid taxes for revenue earned from bingo operations from 2004 - 2008.

The ruling hinged on several questions. First, did Greenetrack owe the taxes at all? The Alabama Tax Tribunal and the Greene County Circuit Court had previously ruled that Greenetrack held a dog-racing license, so under Alabama law they were exempt from paying taxes on their betting revenue.

There was also disagreement on whether Greenetrack was operating in a manner consistent with the law that allows it to exist in Greene County, as well as on how to best calculate their gross revenue from bingo operations.

Ultimately, though, the state's Supreme Court ruled against the gaming complex on all three questions and determined that Greenetrack owes the state taxes on a staggering $1.5 billion in gross bingo revenue from 2004 - 2008.

Their final assessment was that Greenetrack owed $61.8 million in sales taxes, plus $13.6 million in interest, plus another $746,292 for consumer-use tax and interest -- a little more than $76 million total.

Greenetrack has so far been silent on how the ruling will affect its operation as the largest employer in Greene County, but Luther's statement in the press release -- that this is a matter of survival -- suggests the impact could be severe.

The Tuscaloosa Thread will be in Eutaw Tuesday morning for the press conference, so stay connected for more updates as they become available.