House Bill No. 564 proposes amendments to the existing law regarding racehorse wagering in Louisiana, specifically introducing provisions for fixed-odds racehorse wagering. The bill mandates that the Gaming Control Board issue permits to qualified racehorse wagering operators to conduct this type of wagering at licensed sports wagering operators, replacing the previous requirement for permits to be issued for official gaming establishments. Additionally, the bill stipulates that operators must submit a written contract with their application, authorizing them to conduct fixed-odds racehorse wagering.

Furthermore, the bill reduces the percentage of audited net profits that racehorse wagering operators must pay to licensed racing associations for purse supplements from 25% to 15%. It also defines "audited net profits" as gross revenue from actual wagers minus certain deductions, including promotions, state taxes, and fixed-odds content or distribution fees. The Gaming Control Board is tasked with promulgating rules and regulations for the conduct of fixed-odds racehorse wagering, ensuring compliance with the new provisions.

Statutes affected:
HB564 Original:
HB564 Engrossed:
HB564 Reengrossed: