Puerto Rico's El Comandante to Get VLTs
Updated: Wednesday, June 9, 2004 4:15 PM
Posted: Wednesday, June 9, 2004 4:15 PM
The Puerto Rican government has granted approval for up to 6,000 video lottery terminals to be placed at El Comandante Racetrack and its approximately 700 off-track betting outlets on the island.
El Comandante is owned by Equus Gaming Company, a publicly-traded partnership with Thoroughbred and entertainment interests in Latin America and the Caribbean. The VLT law earmarks 15% of the net win generated from VLTs to go as commissions to the respective OTB agencies and an additional 15% for the purse account. The balance will be split between the VLT operator and El Comandante.
Equus Gaming said in a press release it is expected VLTs will provide sufficient revenue to fund the interest and principal repayment on approximately $60 million of racetrack first mortgage bonds which had been in default for the past two years.
El Comandante is accepting proposals from established gaming companies to install and operate VLTs.
FREE! E-Newsletters from The Blood-Horse!...
Follow the top stories of major racing events, racing previews and results with FREE e-newsletters from bloodhorse.com. As news develops, we'll deliver updates to your inbox. Follow important events moment by moment, step by step!