Fair
39°FFairFull Forecast

Audit: Ill. racing industry due funds

Published: Friday, April 26, 2013 1:15 a.m. CDT

SPRINGFIELD – An audit has found that state law doesn’t allow the transfer of millions of dollars that are due to the Illinois horse racing industry. The money is accumulating in a Gaming Board account.

Auditor General William Holland says the money was generated by a riverboat casino that opened in Des Plaines. It’s supposed to go for horse racing in Illinois and to Chicago State University. Fifteen percent of its receipts are due to the Horse Racing Equity Fund and 2 percent to Chicago State.

Legislators never changed the law to allow it. Now racing officials say there’s $115 million sitting in the account that is supposed to shore up sagging race purses.

 

National video

Reader Poll

This question is on the Nov. 4 ballot in Paw Paw: "Should the village of Paw Paw adopt an ordinance permitting and regulating the keeping of chickens within the village?" How would you vote?
Yes
No