According to a report, a big step has been taken to avert the looming crisis in the Illinois horse racing industry.

An article by the Chicago Tribune explains that an agreement was reached last night (Tuesday, November 19) between the state’s horsemen, racetracks and Advance Deposit Wagering (ADW) outlets.

The Chicago Tribune report cites a statement from the Illinois Thoroughbred Horsemen's Association. The Chicago Tribune’s article says that, according to the ITHA statement, the agreement that has been reached would see ‘the ADW law to be extended three years beyond its Jan. 31 expiration.’

The Chicago Tribune report explains that the state legislature will have to approve the agreement, which then must be signed into law in order to take effect.

To read the Chicago Tribune article in its entirety, click here.

(With files from the Chicago Tribune)

Related Stories

• Ill. Horsemen Left Out Of Legislative Session
• IHHA Issues Warning
• Major Cuts For Illinois In 2014?