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Article: Racing clout still runs strong; In revenues and taxes, horses finish last-but lawmakers still pony up.(News)

Article from:
Crain's Chicago Business
Article date:
November 22, 2004
Author:
Copyright

Byline: KRISTINA BUCHTHAL

Horse racing is more popular with Illinois' lawmakers than the state's gamblers.

Horse racing wagers accounted for $1.1 billion, or 4% of the $27 billion gambled legally in Illinois last year, compared with $24 billion for riverboat casinos and $1.7 billion for the Illinois Lottery. Betting at Illinois racetracks and off-track betting parlors is down 17% since 1992, when the first casino opened in the Chicago area. Taxes on horse racing generated $13 million for the state last year, compared with $618 million from casino taxes.

Yet the horse racing industry carries enough clout with state legislators to win tax breaks ...

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