Tuesday, March 16

Slot Legislation Update

About 4 weeks ago, the horseracing industry was given word that the Illinois Legislature was possibly amenable to passing a “slots at the tracks bill.” The instructions that went along with that information were to use HB 4194 as a model for the 2010 version of the bill. In the first meeting with the racetracks they had an extensive list of 21 significant changes, many of which gave great benefit to the tracks at horsemen’s costs. The IHHA enquired about making 3-4 small changes with HB 4194. We submitted these changes thinking that they were both beneficial to the racetracks and to horsemen. After that meeting the racetracks have tried to create an entirely new bill, despite the wishes of Speaker Madigan’s office. HB 4194 is a good bill for horsemen.

A few of the highlights are:
It provides a 15% AGR (adjusted gross revenue) to purses
It provides an additional 2 1/4 % for breeder’s funds which goes for Springfield, DuQuoin and the County Fairs.
It eliminates recapture
It evens the splits at the OTB’s
It preserves live racing into the future.

The IHHA completely supported HB4194 two years ago and still supports it today Stay close for updates.