
New Tax Rules a Hit With Horseplayers
Changes are reducing paperwork for tracks and, most importantly in terms of the withholding, keeping money in players' hands.
Changes are reducing paperwork for tracks and, most importantly in terms of the withholding, keeping money in players' hands.
Calling it a matter of fairness to horseplayers, the New York Racing Association increased its carryover pool for the June 9 Pick 6 after receiving permission from the New York State Gaming Commission early that morning to make the revision.
Portland Meadows concluded its 2014-15 meet Feb. 10 with increases in overall and in-state handle during the 36-day stand, and a slight decrease in purses.
Portland Meadows will add a live racing program for Feb. 9 to make up for a weather-related cancellation Dec. 30, 2014. The schedule change was approved by the Oregon Racing Commission.
Portland Meadows will begin hosting live racing on Tuesdays for the remainder of the 2014-15 meeting, the track reported Nov. 9, and will abandon previously scheduled Wednesday programs.
A reduction in the number of racing days from 60 in 2012 to 49 resulted in average daily gains in wagering and purses at Portland Meadows.
Portland Meadows in Oregon concluded its short summer meet Sept. 29 with substantial increases in pari-mutuel handle.
In a surprise announcement June 10, Portland Meadows said it will have live racing from July 21 through Jan. 26, 2014. The track recently was approved to install historical racing machines.
A reduction in live race dates at Portland Meadows resulted in daily average increases in handle and purses for the 55-day meet in 2011-12 when compared with the 73-day meet in 2010-11.
Portland Meadows reported record handle of $61.2 million during its 78 day meet that concluded May 1 at the Portland, Ore. oval.
Its meet extended by one week, Portland Meadows handled a record $44,655,297 over 66 full race days when the 2008-09 Oregon meet concluded March 31.
Oregon horsemen claim they are caught in the middle of a battle between TVG and Magna Entertainment Corp. over source-market fees, a dispute they claim could jeopardize this year's Portland Meadows fall meet.