Colonial Downs, MJC in Dispute Over Account Betting
A dispute over account wagering in Virginian could lead to a lawsuit against Colonial Downs, the Richmond Times-Dispatch reported May 19.The Maryland Jockey Club, which has a 50-year management agreement with Colonial Downs, claims the contract obligates Colonial to pay it 2% of all handle generated through any account-wagering system licensed in Virginia. Colonial Downs believes the MJC isn't entitled to any of the money.The newspaper reported the MJC, via a subsidiary called the Maryland-Virginia Racing Circuit, has filed a bill of complaint in U.S. Circuit Court in Richmond, Va. Unless the parties can settle their differences, the suit will be served, said Lane Kneedler, a lawyer who represents the MJC.The suit isn't expected to impact the Colonial Downs' meet that runs from June 11 through July 26. Track president Ian Stewart wasn't available for comment.