Horse racing: out-of-state thoroughbred races: Blue Grass Stakes: pension plan or program.
The passing of AB 2969 is intended to enhance the competitiveness of California's horse racing industry by allowing facilities to capitalize on the popularity of major out-of-state thoroughbred events. The exemption for the Blue Grass Stakes is particularly notable, as it may increase betting interest and participation in California's horse racing scene. Additionally, the bill expands the scope of what can be included in the pension plans for backstretch personnel by allowing administrative expenses to be counted, ensuring that funds are allocated more effectively to those involved in the racing industry.
Assembly Bill 2969, relating to horse racing, introduces amendments to the Business and Professions Code that specifically address the wagering on out-of-state thoroughbred races. One of the most significant changes introduced by this bill was the exemption from the limit of 50 imported races per day for races that are part of the Blue Grass Stakes race card. This amendment allows thoroughbred racing associations and fairs to accept wagers and distribute audiovisual signals without the need for consent from horsemen organizations during local race meetings, facilitating greater potential revenue from popular out-of-state races.
The sentiment around AB 2969 was largely positive among stakeholders in the horse racing community, particularly those involved in the organization and management of thoroughbred events. Many viewed this bill as a necessary step towards modernizing the horse racing landscape and ensuring its sustainability amidst evolving betting practices. However, there may be concerns regarding the absence of consent from horsemen organizations, which could potentially lead to conflicts regarding revenue distribution and operational practices.
A potential point of contention that arose during discussions of AB 2969 was the impact of allowing associations to bypass consent from horsemen organizations when distributing signals and accepting wagers on out-of-state races. While supporters argue that this flexibility leads to more robust attendance and betting opportunities, opponents raised concerns about the implications for governance within the horse racing community, fearing that it could undermine the roles and benefits provided to local horsemen and trainers. The balance between promoting growth and ensuring the rights of stakeholders in the industry remains a critical focal point.