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Author Topic: The 3% is under consideration again  (Read 588 times)
APCD Dan
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« on: August 18, 2014, 10:34:06 PM »

Reading the news from Janine, it said that a lawsuit by the four casinos that paid the 3% has been reinstated again.  Supposedly, there was a different slant taken on what Blago did that seems relevant to the courts. I do not understand the law involved but does that mean there is the possibility of the tracks having to pay back the 3% money that they already gave away.
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bnlong
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« Reply #1 on: August 19, 2014, 10:14:01 AM »

The bulk of that money ($100 million) was looted for the children

I don't believe they could snatch back food from the mouths of babes.
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beobob
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« Reply #2 on: August 19, 2014, 10:19:28 AM »

Probably just a distraction to keep racing from focusing all their attention on the fall veto session.
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Mary Ann
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« Reply #3 on: August 19, 2014, 01:55:17 PM »

Gaming Today has a story, "Illinois horsemen fear lack of slots".

"Anyone suggesting the tracks are looking for a subsidy just doesn’t understand the problem, says Dave McCaffrey, who has spent more than two decades campaigning a stable of harness horses.

“We don’t want a subsidy, we just want to be competitive with other states that allow this form (slot machines) of gambling,” McCaffrey was quoted as saying.

He races a stable of 25 horses at Maywood Park, which, years ago when the track was owned by the Galt Family, was one of the country’s premiere harness tracks.

Observers indicate opposition to expanded gambling has come not only from the anti-gambling lobby but also from the state’s riverboat operators, who feel racetrack slots would severely affect their revenues."

http://gamingtoday.com/articles/article/48798-Illinois_horsemen_fear_lack_of_slots#.U_OaLfldVu5
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dano-themano
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« Reply #4 on: August 21, 2014, 12:30:35 PM »

Rather unlikely that a bunch of broke horsemen could pay back any of that.  However, a large lawsuit looming could impact a couple of unnamed tracks that are barely holding on.
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Matchtown
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« Reply #5 on: August 21, 2014, 12:59:54 PM »

If the tracks have to pay that back 100 million they will have recapture on the recapture these guys need to figure out where they are moving to to race because it's all over in Illinois ......
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jrstark
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« Reply #6 on: August 21, 2014, 01:02:59 PM »

No. 13‐2972
EMPRESS CASINO JOLIET CORP., et al.,
Plaintiffs‐Appellants,
v.
JOHN JOHNSTON,
BALMORAL RACING CLUB, INC., and
MAYWOOD PARK TROTTING ASS’N, INC.,
Defendants‐Appellees.

http://www.itbof.net/pdf%20files/7thcircuit_empress_v_balmoral_maywood.pdf

Where are horsemen mentioned?
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dano-themano
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« Reply #7 on: August 21, 2014, 01:37:10 PM »

That was more tongue-in-cheek, Janine.  But if you follow the money, theoretically it is in the bank accounts of the owners who earned it.  It is not beyond the realm, in the event of a judgment, to chase the money by means of additional actions.  Doubtful, indeed.  And I'd hate to have to enforce the collection.
« Last Edit: August 21, 2014, 01:49:49 PM by dano-themano » Report to moderator   Logged
bnlong
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« Reply #8 on: August 21, 2014, 02:47:02 PM »

Everyone was solicited. yet only Johnston was stupid enough to bite.
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