- Associated Press - Saturday, April 12, 2014
Churchill Downs to keep more from each bet

LOUISVILLE, Ky. (AP) - Churchill Downs plans to start taking a bigger cut from bets wagered on its races, which means gamblers cashing winning tickets will collect less money.

The track will apply the new so-called takeout rate when its spring meet starts on April 26 - a move that could add $8 million to Churchill’s revenues and increase purses by a similar amount, according to The Courier-Journal (http://cjky.it/1kBdpM1http://cjky.it/1kBdpM1 ).

The increase will apply to the Kentucky Derby.

Churchill’s takeout will be the maximum allowed under state law - between 17.5 percent and 22 percent, depending on the type of wager. That’s up from the 16 percent to 19 percent Churchill had been taking from the betting pool.

The Louisville track is contractually required to direct roughly half the takeout to purses after taxes.

Churchill Downs spokesman John Asher said without the change, spring purses would have been cut, including the likely cancellation of some stakes races.


Boyhood home of Brandeis to be auctioned off

LOUISVILLE, Ky. (AP) - A piece of downtown property linked to one of Louisville’s most famous natives will be up for grabs when the boyhood home of the late Supreme Court Justice Louis D. Brandeis is auctioned off later this month.

The original home was built in 1864 and Brandeis lived there from the age of 8 or 9 until he left Louisville as a teenager.

The structure underwent significant additions through the years and is currently used as medical offices and a lab.

Bill Menish, managing director of the local office handling the auction, said Friday that it has an appraised value of $3.15 million. The property has been on the market for a few months, with a listing price of $2.8 million, he said.

The building’s limestone front and interior staircase date back to the time when Brandeis grew up there, he said.

“It is as it was when that property was built for the Brandeis family home,” he said.

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