Securing the Future of Racing at Fair Grounds: CDI Reaches Agreement with Louisiana Horsemen
Churchill Downs Inc., the owner of Fair Grounds Race Course & Slots in New Orleans, has secured an agreement with Louisiana horsemen to continue racing at the track from Thanksgiving to early spring. The track's traditional race schedule will be maintained pending approval from the Louisiana Racing Commission during an emergency meeting on June 24. The future of racing at Fair Grounds was uncertain due to legal challenges and legislative issues related to historical horse racing gaming.
Historical horse racing (HHR) devices, which resemble slot machines, have been a significant revenue source for track operators like CDI. However, a Louisiana Supreme Court ruling deemed the statute authorizing HHR gaming unconstitutional, leading to concerns about revenue loss. Legislation to expand video poker machines in the state and introduce fixed odds wagering on horse racing has been proposed to support the horse racing industry.
CDI expressed concerns about the potential impact of the video poker legislation on its revenue and operations. Despite initial opposition, CDI reached an agreement with the Louisiana HBPA following discussions with state officials. The agreement will result in some purse reductions for horsemen, but efforts will be made to maintain competitive racing opportunities.
The recent agreement between CDI and horsemen signifies progress in securing the future of racing at Fair Grounds. The track's historical significance and the protective measures taken by city and state leaders demonstrate a commitment to preserving horse racing in New Orleans. The upcoming season's purse levels and operational details will be discussed at the upcoming commission meeting, providing clarity on the way forward for Fair Grounds and its stakeholders.