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Originally Posted by GBBob
Complaining is an understatement. When this bill originally passed approving the allocation of a percentage of certain(based on geographical proximatey to tracks) casinos profits to the tracks. This was many years ago. The casinos took it to the Illinois Supreme Court and actually won. But then the appellate court over ruled saying the original decision was wrong and ruled in the tracks favor. The casinos then appealed that and lost and now at their last resort, The US Supreme Court, who should rule in the next 60 days. Meanwhile, there is about $80 Million in an escrow awaiting distribution to all tracks....a percentage to the physical building and a percentage to purse funds...based on the Supreme Court denying the casino's appeal. Plus this law was extended another 3 years by a last minute signing by Blagojevich before he was hauled off to jail. That went over real well  |
I imagine it did not go over really well. It just makes horse racing look like a sleazy money grab. Hopefully the SC looks at the agreement that was signed and the ensuing agreements and tells them to pay up and then re-negotiate their license with the state.
Talk about negotiating in bad faith.
04-16-2009, 01:23 PM
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