AB 900 Passes Assembly; CA Horse Racers Expect Relief

The horse-racing industry sponsored AB 900 (Jerome Horton, D-Inglewood), a California bill that would increase the takeout rate by 0.5% on all exotic wagers to raise approximately $10-million to help pay industry workers' compensation premiums, was passed 78-0 by the California Assembly Monday. The measure passed the state senate by a 31-4 vote in September. The urgency measure now goes to Governor Arnold Schwarzenegger for signature, which is widely anticipated.Industry observers predict that owners, breeders and tracks could begin to realize savings in their workers' compensation costs as e...