Kentucky Thoroughbred Development Fund

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Kentucky Lawmakers Eye Tax on ADW Bets

Kentucky Lawmakers Eye Tax on ADW Bets

The Kentucky General Assembly probably will consider legislation in 2012 that taxes bets made by Kentucky residents through advance deposit wagering systems to bolster the Kentucky Thoroughbred Development Fund.

KTDF Revenue Decline of Concern to Panel

Members of an advisory committee that oversees the Kentucky Thoroughbred Development Fund expressed concern June 8 over diminishing revenue for the program as well as one racetrack's suspension of full-card simulcasts.

Kentucky Cup Classic to Offer Bonus

Kentucky Cup Classic to Offer Bonus

If the winner of the Sept. 29 Kentucky Cup Classic (gr. II) brings a recent grade- or group-I victory to the starting gate, the triumphant owners will take home a $150,000 bonus, Turfway Park officials announced Sept. 5.

KTDF Endorses Handle and Tax Information System

A handle and tax information system was unanimously endorsed by the Kentucky Thoroughbred Development Fund and will be recommended to the Kentucky Horse Racing Authority at its March meeting, it was decided Feb. 28. Funds for the software will most likely come out of the $1.2 million Kentucky Gov. Ernie Fletcher has recommended the state legislature approve in additional funding for the authority.

Action Taken to Erase Deficit in KTDF Balance

The Kentucky Horse Racing Authority has approved an agreement that erases a deficit in the Kentucky Thoroughbred Development Fund and establishes tighter accounting procedures to preclude a similar deficit buildup in the future.

Turfway's Business Booms; Up 23.6% Overall

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Turfway Park reported a 23.6% increase from 2005 in all-source handle during the fall meeting that ended Oct. 5 while on-track wagering posted a more modest 4.6% gain.

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