The Daily Racing Form reported Thursday that a new bill in the Louisiana legislature could remove $36 million from the state's horse racing industry and redirect it to a scholarship program.
The bill, which is scheduled for a hearing next week by the House Appropriations Committee, would cut casino funding to purses and breeders' awards by roughly half.
The bill, the Form noted, does not divert casino revenue destined for the casino owners. The amount of gross revenue from slot machines on track would decrease from 18 percent to 9 percent, while revenue from video poker would go from 20 to 10 percent.
Read more at the Daily Racing Form
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