Illinois: lawmakers extend online betting law

Illinois lawmakers approved an 11th-hour extension to an online betting law last week that will allow horse racing tracks to keep their racing schedules intact this year.

The Illinois Senate voted 47-4 Wednesday to pass the extension, while the House approved the extension with a 98-10 vote on the same day. Governor Pat Quinn signed the bill into law Wednesday afternoon. The legislation allowing online betting had been set to expire last Friday. The Illinois Racing Board had predicted major budget cuts without an extension, because money from the online betting composes about a third of its annual budget. That could have limited their oversight ability and forced racetracks to cut the number of horse races. The three-year extension includes a surcharge on wagering.

Officials said Wednesday they were pleased with the legislation's passage, noting it will help preserve the jobs of the estimated 15,000 horse owners, trainers, jockeys and stable-hands in Illinois. "With his signature many people can plan on going back to work knowing that there will be a full racing schedule in Illinois, not only for 2014, but for the next several years as well," Arlington Park General Manager Tony Petrillo said. But he also acknowledged that "there's still a lot more work that needs to be done to rebuild racing," pinning the long-term future of the industry on allowing slot machines at racetracks, in order to compete with Illinois casinos and out-of-state tracks that allow slots.

With Associated Press via QC Times