The Louisiana Racing Commission Oct. 21 ordered Fair Grounds Race Course & Slots to restore $2.7 million in purse supplements from video poker revenue for the upcoming Thoroughbred meet.
The Fair Grounds and Louisiana horsemen reached a $25 million settlement over video poker purse revenue Aug. 7.
An attorney for the Fair Grounds said Louisiana horsemen were on the verge of a settlement Friday night that could spare the New Orleans track from an auction in bankruptcy court later this month over a $90 million video poker judgement.
Louisiana horsemen have filed an objection to the Fair Grounds' bankruptcy disclosure statement, alleging that the track misrepresented and omitted key financial information.
A state district judge ruled March 22 that Fair Grounds owes horsemen almost $90 million in damages from the video-poker lawsuit that led to the track's filing for Chapter 11 bankruptcy reorganization last August, the New Orleans Times-Picayune reported.
An Iowa riverboat operator has taken full ownership of Evangeline Downs and acquired the land to build a new track and casino in an adjoining parish.
Most Popular Stories
- Multiple Grade 1 Winner I'm a Chatterbox Retired
- Private Zone Retired to Old Friends
- Derby, Oaks Notes, from Churchill Downs, April 25
- Steve Haskin's Derby Dozen - April 25, 2017
- OBS April First Session Soars
- Creative Cause Filly Sells for $575,000
- Three Chimneys Strikes Early for Orb Colt at $685,000
- Orb Colt Grew Up, Brought $685,000 at OBS
- McCraken Finishes Strong in Five-Furlong Move
- Romans Mulling Rider Options for J Boys Echo