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
- Grade 1 Winner, Sire Devil His Due Dies at 28
- Desormeaux Switches Agents to Arroyo
- Cloud Computing Leaves Pimlico, Others Thinking Belmont
- Cloud Computing Wears Down Classic Empire in Preakness
- Into Mischief Filly Tops Early at Midlantic Sale
- Hips to Watch: Day 2 Fasig-Tipton Midlantic Sale
- Trainer Richie Scherer Dies at Age 53
- Speedy Smart Strike Filly Brings $525,000
- Smart Strike Filly Leads the Way at Midlantic Sale
- Jimmy Creed Filly Pride of Endswell's Consignment