COLUMBUS -- Ohio Governor Ted Strickland and state lawmakers have reached a budget deal that would allow electronic slots at seven racetracks.

Gov. Strickland, Senate President Bill Harris, (R), and House Speaker Armond Budish, (D), of Beachwood reached agreement on the bi-partisan budget framework for fiscal years 2010-11 Friday afternoon.

Specifically, a consensus agreement was reached on the proposed implementation of video slot machines at Ohio's racetracks, including Northfield Park in Summit County and Thistledown in North Randall, to help bridge the $3.2 billion dollar budget shortfall.

The slots are projected to bring in $933 million in licensing fees and gaming revenuing over the two year budget cycle.

Details of just how many slot machines will be installed at each racetrack have yet to be determined. Mike Dolan, Ohio Lottery Executive Director of the Ohio Lottery told Channel 3 News that the slots could be up and running by next May.

People involved with the struggling horse racing industry said slots would level the playing field with neighboring states which already have slot machines.

"We're going to create a whole bunch of new jobs too," said Keith Gisser, director of publicity for Northfield Park. "We'll have to build a temporary facility (to house the slots)."

"Under the bipartisan agreement, I will issue a directive instructing Ohio's Lottery director to expeditiously take all necessary actions to implement video lottery terminals at Ohio racetracks. The General Assembly will acknowledge the Lottery's authority to implement video lottery terminals and provide for a statutory definition of video lottery terminals and other implementation requirements in House Bill 1, the operating budget bill," Strickland said.

Up until the budget deal was reached, Strickland and Democrats in the House had been locked in an impasse with the GOP-led Senate. Two interim budgets were required for the first time in 18 years.