FRANKFORT, Ky. (AP) - Kentucky Gov. Steve Beshear has signed into law a tax break for the Breeders’ Cup and Keeneland.
The law exempts the state’s pari-mutuel tax on wagering on live races at Keeneland during the Breeders’ Cup on Oct. 30-31. Breeders’ Cup President and CEO Craig Fravel estimated the tax break would be worth at least $750,000, which is how much it was worth in 2011 the last time the horse racing championship was held in Kentucky.
Fravel said few tickets remain for the two day event that is making its first ever appearance at Keeneland. The Breeders’ Cup had already committed to come to Kentucky regardless of the tax break. But state officials said the exemption will encourage the race to return to Kentucky in the future.
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