Ex-Prairie Meadows Chairman Rasmussen Dies

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Jim Rasmussen, a successful owner and chairman of the Racing Association of Central Iowa until this spring when he resigned after admitting to gambling through a bookmaker, died on Oct. 15 of lung cancer.

The Iowa Racing and Gaming Commission declined earlier this week to pursue charges against Rasmussen in connection with the gambling probe, in part because of his deteriorating health. Rasmussen, 66 when he resigned, was first diagnosed with lung cancer in January 2000.

Rasmussen, who joined the racing association when it came out of bankruptcy in 1993, had been chairman since 1995.

"Jim Rasmussen was instrumental in turning Prairie Meadows into a first-class racing, entertainment and gaming facility," said a statement released by the Altoona, Iowa track.

"His vision and leadership were responsible for developing and growing the breeding industry throughout the state of Iowa and the economic benefits it created. Jim also took the leading role in the decision to have Prairie Meadows operate as a self-managed, not-for-profit organization – a move that has positively affected virtually every citizen of Polk County. Thanks to Jim's vision, that decision has allowed Prairie Meadows to provide hundreds of millions of dollars to the county and worthwhile charitable organizations over the past eight years."

He was among 55 people named as prosecution witnesses when Robert Derryberry was charged with bookmaking in the spring, and acknowledged that he and his sons had bet on football games. When he resigned in May, Rasmussen also turned in his license as a horse owner, though the family's horses ran in the name of his wife, Sandra.

The Rasmussens have been among the leading Iowa breeders and owners since the mid-1990s. Their stable earned more than $730,000 at Prairie Meadows in 2003 to rank second among all owners.

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