Centaur Inc., owner of Hoosier Park in Indiana, closed Oct. 30 on a $1-billion financing package, almost half of which will be used to develop a slot-machine casino at Hoosier.
- By James Platz
Indiana lawmakers advanced a bill to the desk of Gov. Mitch Daniels late April 29 that would permit slot machines at Hoosier Park and Indiana Downs, but each track must pay $250 million up front for a slots license.
A proposal that could lead to eliminating the state's $27-million-a-year subsidy to the horse racing industry likely won't make it out of the starting gate.
The Illinois General Assembly has approved and sent to Gov. Rod Blagojevich legislation that would provide as much as $35 million a year in subsidies for Illinois racing--but only for two years.
- By Tom LaMarra
Revised legislation that would provide the Illinois horse racing industry with casino revenue passed the state House of Representatives 70-32 April 26 and heads to the Senate for consideration.
- By Tom LaMarra
Legislation that would grant Fairmount Park a tax break worth almost $1.4 million a year has passed both houses of the Illinois legislature and awaits the signature of Gov. Rod Blagojevich. If approved, the track could increase purses and racing dates, according to reports.
- By Tom LaMarra
Legislation that would funnel more than $50 million a year to the Illinois racing industry cleared a House committee March 1, but it failed to win enough support after a third reading March 3.
A proposal by Illinois House Speaker Michael Madigan to ban riverboat gambling in Illinois has been dry-docked in the state Senate.
Penn National Gaming Inc. reported an increase in net revenue for the first quarter of 2005 compared with the comparable period in 2004, but also showed a $2-million loss in net income.
Illinois Gov. Rod Blagojevich, after long opposition, has opened the door to the expansion of gaming. But his education-funding proposal doesn't specifically include the new casinos and support for racetracks that would make it politically viable in the state House and Senate.
Prairie Meadows' board of directors has unanimously passed a resolution that would change the makeup of its board in exchange for business support to oppose a Des Moines riverboat casino.
The Indiana Horse Racing Commission sided with Indiana Downs Sept. 26 when it voted 4-1 to split riverboat casino admission tax revenue 50/50 with Churchill Downs Inc.-owned Hoosier Park. The move guarantees $5.4 million a year to Indiana Downs indefinitely.
Slot machines at Louisiana Downs in Bossier City, La., appear to have impacted five riverboat casinos in the Shreveport/Bossier City market, according to July revenue reports filed with the Louisiana Gaming Control Board.
Illinois Gov. Rod Blagojevich, in a major reversal of form, has announced he will veto any expansion of gaming in Illinois, including a plan to put slot machines at racetracks.
Three pieces of legislation that would directly impact Indiana's horse racing industry are making their way through the General Assembly.
The Isle of Capri in Lake Charles, La., wants to move one of its two riverboat casinos closer to the Texas state line because a lucrative slot-machine parlor at nearby Delta Downs is having a negative effect on its business.
The Indiana Horse Racing Commission, in close vote, has ruled that two racetracks will compete for a riverboat admissions tax subsidy rather than split the revenue 50-50.
Dockside gaming and pull-tab legislation were not passed into law during the Indiana General Assembly's regular session earlier this year, but both measures have made their way into a new budget bill during the special session now under way.
The latest unlikely solution for a huge Illinois state budget crisis: Slot machines at racetracks.
Delta Downs generated nearly $25 million in gross revenue--86% from its slot-machine parlor--for the first quarter of 2002, according to financial statements.
Turfway Park in northern Kentucky reported declines in on-track betting and attendance and overall handle during the winter/spring meet that concluded last Thursday.
The Indiana House passed legislation Feb. 26 that allows for dockside gaming at riverboat casinos, and pull-tab machines in the state. Lawmakers approved the Senate bill by a 55-43 margin.
The future of video gaming at racetracks and dockside gaming at riverboat casinos in Indiana could be decided as early as Monday.
Dockside gambling on Indiana riverboat casinos and electronic pull-tabs at Hoosier Park and the proposed Indianapolis Downs are one step closer to reality after a close vote in the Indiana Senate Jan. 31.
Indiana Gov. Frank O'Bannon gave his state of the state address Tuesday evening before members of the General Assembly, and the pari-mutuel industry wasn't left out of the equation.
Faced with a slumping local economy and notification from state officials that Indiana's growing budget deficit could leave it without money by mid-2003, Gov. Frank O'Bannon on Thursday night outlined a plan to keep the state from going broke.
A comprehensive overhaul of Indiana's gaming laws, including a provision to allow electronic pull-tab machines at Churchill Downs-owned Hoosier Park, was approved Wednesday by a House committee. The proposed legislation passed on an 11-3 vote by the House Public Policy Committee is designed to alter state laws allowing dockside gambling for the state's riverboat industry.
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