|Monday, May 29, 2006|
|Casino levy to support horseracing in Illinois U.S.|
According to a new state law signed off on 26 May, the state of Illinois’ four largest casinos must give up 3 percent of their receipts, or about $36 million a year, to support the horseracing industry. Sixty percent will be used to increase the prize money, while the rest will be used to improve and promote race tracks.
The Illinois Governer justified the measure – which is only temporary with a duration of two years - to protect the thousands of people employed by the racing industry in Illinois. Betting on horseracing almost helved since the introduction of riverboat casinos in 1991.