Tuesday, April 29, 2014

Iowa Senate approves Casinos' exit from Greyhound Racing

Approving the bill in a 46-2 Senate vote, Iowa's Horseshoe Casino in Council Bluffs & Mystique Casino in Dubuque would no longer be required to subsidize money to the greyhound racetracks associated with each casino. 
This is truly unfortunate for those wishing to remain in Iowa's greyhound racing industry. Jerry Crawford, attorney for the IGA, was quoted saying: "Those casinos, which are very valuable properties, worth hundreds of millions of dollars, wouldn't exist if we hadn't provided the votes to get them their licenses. And the agreement was that in exchange for our support, they would support greyhound racing forever."
According to the bill there would be a $92 million payout. The casinos would get $20 million to support the upcoming greyhound racing season. $36 million would be provided to those business owners wishing to retire from the industry as well as aid with the care & adoption of greyhounds who no longer will have a track to compete at. The remaining $36 million would go to those who want to stay in greyhound racing business at Dubuque. 
Gov. Terry Branstad who recently called greyhound racing a dying industry also said he supported closing the racetracks, as long as the people who work in the racing industry were compensated.
Read more here: Iowa Watchdog

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