Arlington Racecourse owner threatens to end racing – Crain’s

Churchill Downs blames prohibitive tax rates that would penalize it relative to competing Chicago-area casinos.

 
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Mike
4 years ago

In addition to the IL tax policy, IL politicians took forever to allow slots at race tracks (racino) which enables bigger payouts.

So many owners moved their horses out of state in pursuit of bigger payouts.

Instead, IL politicians enabled video gaming just about anywhere else that serves alcohol, a massive expansion of gambling via family restaurants, diners, and video gaming parlors.

Horse racing is still a viable industry with jobs in the United States and in other countries.

Just add it to the long list of the things Illinois state politicians screwed up.

Hank Scorpio
4 years ago

As an aside, I can tell you how IL taxes gamblers. You are taxed at 5% of total gross, not total net. So if your profit margin is 8%, IL gets 5 and you get 3 (minus federal, which only taxes at net). Or worse, you make less than 5% profit margin, you still owe 5% on what you won! And I can tell you that horse racing profit margins for pro-gamblers are already razor thin, as I used to be active in the community. I know most people don’t gamble and don’t care, but just thought I’d share this… Read more »

debtsor
4 years ago
Reply to  Hank Scorpio

Horse racing is dead in IL and it’s dying elsewhere. The culture of the old geysers going to the track on Friday nights to bet a few bucks on the horses, drink a few beers and smoke a few cigars is over. The younger generations never really picked up the hobby and they never really did much to reach out to them either. It’s a niche market these days. Kinda sad.

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A statewide concern: Illinois’ population decline outpaces neighboring states – Wirepoints on ABC20 Champaign

“We are not in good shape” Wirepoints’ Ted Dabrowski told ABC 20 Champaign during a segment on Illinois’ latest population losses. Illinois was one of just three states to shrink in the 2010-2020 period and has lost another 300,000 people since then. Ted says things need to change. “It’s too expensive to live here, there aren’t enough good jobs and nobody trusts the government anymore. There’s just other places to go where you can be more satisfied.”

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