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KY To Drop Pari-Mutuel Tax For ‘Cup’

Published: March 18, 2015 1:15 pm ET

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It has been reported that a Kentucky bill that calls for the exemption of the pari-mutuel tax on wagering on live races during the two-day Breeders’ Cup at Keeneland this October has been signed into law by Governor Steve Beshear.

According to an article on wkms.org, Governor Beshear and Breeders Cup President Craig Fravel are in agreeance that the tax incentives from the move – which are estimated to be in the neighbourhood of three-quarters of a million dollars – could possibly lead to the Breeders’ Cup returning to the state in three years’ time.

The report has cited Fravel as saying that the Breeders’ Cup had an $80 million impact when it was recently held in California.

(With files from wkms.org)


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