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ADW's Get California Extensions

Satisfied that owners were getting as much as possible for purses from a recent state increase in takeout on some wagers, the California Horse Racing Board granted three advance deposit wagering companies one-year extensions of their licenses during its Jan. 20 meeting.


The board stopped short of handing the companies full two-year extensions, with chairman Keith Brackpool saying that there needs to be "a necessary discussion" later this year on the relationship of the ADWs to the state's racing industry.


MI Development's XpressBet and Churchill Downs Inc.'s Twinspires were all extended to Dec. 31, while the application for Youbet.com, now owned by CDI as well, was withdrawn.


During its Dec. 16 meeting, the CHRB gave the companies temporary 30-day extensions. Board members were concerned about the number of contractual agreements that were still outstanding and whether CDI, in its multi-jurisdictional hub agreement negotiations, was refusing to pay its full share to California purses as provided in last year's takeout legislation. The legislation, which authorized increases of 2% or 3% on exotic wagers, was intended to go entirely for purses.



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