News In Brief Fall/Winter 2004

NATIONWIDE: President George W. Bush Oct. 22 signed into law the Foreign Sales Corporation bill giving numerous industries, including the pari-mutuel industry, $140 billion in tax breaks. One provision removes the 30 percent withholding tax on foreign bettors' winnings on U. S. dog and horse races. The tax break will open up U.S. pari-mutuel pools to overseas expansion. Pools are expected to grow as international simulcasting expands.

Source: Lexington Herald-Leader

ALABAMA: Town officials in Shorter confirmed in late September that plans are in the works for a multimillion-dollar bingo hall to be built along Main Street. The bingo hall will be adjacent to the VictoryLand dog track owned by Milton McGregor. "Competition doesn't concern me at all," McGregor said.

Source: Montgomery Advertiser: Jannell McGrew

FLORIDA: The St. Petersburg Kennel Club began its 80th season Oct. 4, eight weeks ahead of schedule. Live racing will be offered on Sundays for the first time in a decade, allowing the track's lucrative 35-table poker room to operate seven days a week. There will be 242 days of live racing; the season ends June 4, 2005.

Source: St. Petersburg Times: John Schwarb

KANSAS: Missouri-based Grace Entertainment, which operates The Woodlands dog track in Kansas City, has agreed to sell three of its casino properties in Missouri and Iowa to Herbst Gaming, Inc. for $287 million. The privately held company, run by the family of William Grace who died last April, plans to keep The Woodlands.

Source: The Kansas City Star: Rick Alm

TEXAS: Valley Race Park in Harlingen began its fourth live racing season Nov. 19. Only seven kennels are racing at the track, down from 12 the previous three seasons. Operations director Hew Williams said the lower number of kennels would not hurt the overall product. The live season runs for 19 weeks, ending April 3, 2005. The track is open year-round for simulcast wagering.

Source: Valley Morning Star: Buddy Green