Horsemen & Tracks Reach Agreement
April 22, 2010
The IHHA and the ITHA are pleased to announce that they have reached a tentative agreement with the racetracks on a “slots at the tracks bill.” After two days of intense negotiations, all parties have signed an agreement on a sliding scale which will provide millions of dollars for purse accounts. In addition, other contentious issues have been worked out. There is still language to be written, and a bill number to be assigned, however we are cautiously optimistic that we will have an actual agreed upon bill in the next few days. Some of the highlights of the agreement are:
- An acceptable sliding scale for purses, with 2% going to supplement State and County Fairs.
- Guarantee to protect live racing.
- No demand to have horsemen sign an agreement that would share future tax increases with tracks at an equal rate.
- Elimination of recapture at the first pull of a slot machine.
- The racetracks will continue to pay for the Racing Industry’s Charitable Foundation.
- The racetracks and horsemen have agreed to split the payment of breeders awards. 50/50.
- The racetracks have agreed to keep backstretches open.
The IHHA Board of Directors has unanimously approved this agreement. |
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