Contention Over CA Exchange Wagering Bill
According to a report, opposition to AB 2414, the bill in California which would legalize exchange wagering in the state, is being contested by both Republicans and track operator Magna Entertainment, the latter of which has let everyone know its position on the idea
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An article on capitolweekly.net explains that Magna has taken out newspaper ads calling the bill, 'A loser you can bet on.' Magna also reportedly refers to the bill as 'a last-minute backroom deal.' The article also explains that the ad is accompanied by a photo showing the backsides of several horses and jockeys during a race.
According to the report, officials from the California Horse Racing Board and Betfair, an obvious supporter of the legislation, have indicated that the bill should not be news to anyone associated with Magna.
Betfair's chief American-based executive, Stephen Burn, was quoted as saying “They (Magna) were involved in all those discussions all throughout the process.” The CHRB's executive director, Kirk Breed, echoed the same sentiments. The report states that the exchange wagering aspects of the bill had been discussed during at least three recent board meetings. “All of these items have been bought up,” Breed was quoted as saying. “All of the stakeholders were involved.”
The capitolweekly.net article explains that the bill has been focused on horse racing since it was introduced it in February. The article also states that it was heavily amended on August 20, just days from the end of the legislative session and past the date where the revisions could get major committee review.
(With files from capitolweekly.net)
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