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Illinois Casino Profit Redistribution Deal Passes Legislature
Monday, May 08, 2006
ILLINOIS – As reported by the St. Louis Post-Dispatch: "A contentious deal to take profits from Illinois' richest casinos and use them to support the state's ailing horse racing tracks -
including Fairmount Park in Collinsville - won final passage in the Legislature on Thursday.
"It now goes to Gov. Rod Blagojevich, who has said he will sign the bill.
"The bill would raise about $36 million a year from the casinos in Elgin and Aurora, as well as the two in Joliet. It was amended so that the subsidy would expire after two years, by which time legislators said they hope to find a permanent way to help the tracks.
"…Backers said the horse parks deserved support after losing so much business since casino gaming was legalized in Illinois…"