SB 690, the gaming bill, our jobs bill, the slots at racetrack bill, call it anything you like bill has passed the Senate today and is on its way to the Governor for his signature. The Governor has told us he is fully supportive and plans to sign this as soon as possible. It’s been a long time coming but it appears as though we have finally gotten over the hump. Horse racing highlights of this bill include:
- The elimination of recapture.
- A guaranteed amount of live racing.
- A fair percentage of profits from the slot machines and table games to purses.
- A new racino for harness racing only can be built.
- The R.I.C.F. program has been increased to $1m.
- 15% of purses earned from slot machines and table games are earmarked specifically for ICF purses for both state and county fairs.
- Sports betting may be allowed at the racetracks but we are still seeking clarification on that process. Our percentage to purses from sports betting will be handled contractually.
- A new wrinkle was added for the state fairs. 50 VGT machines will be added to the beer tents at the state fairs and a portion of the profits will go to our ICF races there.
That is a quick overview of the 816 page bill. It has plenty of complexities to it and we will explain them in detail as time goes on. But for right now, let us look forward to a brighter future.
A special thank you to everyone past and present who contributed to todays’ victory. You know who you are. Thank You, Thank You, Thank You.