AUGUSTA – A group led by the owners of Bangor Raceway, including its newest investor, Capitol One LLC, announced that it has taken the first steps toward initiating a statewide vote on adding slot machines to Maine’s two existing commercial harness racing tracks.

A citizen initiative application and referendum language has been submitted to Maine Secretary of State Dan Gwadosky for review. Backers of the proposal say it will add new life to the state’s struggling harness-racing industry. Fred Nichols, president of Bangor Raceway, is the referendum’s lead applicant.

“This effort will not place an undue burden on any one community or alter Maine’s character,” Nichols explained. “The referendum is simply seeking to add an additional form of gaming to existing, well-regulated facilities that already have legal wagering. This plan will offer significant benefits to horsemen, breeders, Maine’s agricultural fairs and the state’s agricultural economy. We feel this is the best bet for Maine.”

As written, the referendum limits the use of slot machines to Maine’s existing commercial tracks in Bangor and Scarborough and would allow slot machines to be installed only after the municipalities approve the use of slot machines by local referendum.

Under the terms of the referendum, 9 percent of slot revenues would be used to preserve and enhance the harness racing industry and an additional 3 percent would be used to help fund the state’s agricultural fairs. A portion of the revenues would be used for unrelated needs – 10 percent would be used to fund the cost of prescription drugs for Maine senior and disabled residents and another 3 percent would be used to fund postsecondary education scholarships for Maine residents attending the University of Maine System or the Maine Technical College System.

Nichols is joined on the application by Bangor Mayor Michael Crowley, Bangor City Councilors Gerry Palmer Jr. and David Nealley, Bangor businessman William Varney and Hollis-based breeder Donald Marean.

“Our investment in the raceway is based on successfully redeveloping the Bangor Raceway as a world-class venue, including a convention center and luxury hotel,” said Hoolae Paoa, chief executive officer of Capitol One.

The initiative language is under review by the Secretary of State’s Office.