ILLINOIS RACING BOARD
SUITE 7-701 JAMES R. THOMPSON CENTER 100 WEST RANDOLPH STREET CHICAGO, I L 60601 TEL: 312-814-2600 TDD: 312-814-5039 FAX: 312-814-5062 November 20, 2013
AGREEMENT REACHED WITH STAKEHOLDERS ON ADVANCE DEPOSIT WAGERING
CHICAGO, IL – - With advance deposit wagering (ADW) set to expire on January 31, 2014, Illinois racetracks, advance deposit wagering companies, and horsemen’s groups reached an agreement on November 19, 2013, regarding an extension of the advance deposit wagering law and funding the deficit of the Illinois Racing Board.
The following are terms of the agreement:
Three-year extension of ADW;
0.2% surcharge on all wagers (on-track, intertrack, OTB and ADW) to provide supplemental funding to the IRB;
0.5% optional surcharge on all wagers (on-track, intertrack, OTB and ADW) to be shared equally between horsemen’s purses and racetracks;
Two additional OTB licenses for each racetrack located in Cook County (Arlington Park, Hawthorne Race Course, and Maywood Park);
Elimination of the 500 foot restriction for registered voters on the placement of OTB’s;
$100,000 funding of Quarter Horse purses; and
Financial accounting by the ADW companies (excluding Twin Spires) to the horsemen’s groups.
The agreement will be presented to the Illinois General Assembly for their consideration. If passed by the General Assembly and signed by Governor Quinn, the full racing schedule (schedule one), approved by the IRB on September 24, 2013, will be implemented.