DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 957 Engrossed 2022 Regular Session Schexnayder
Abstract: Provides for fixed-odds racehorse wagering within land-based casino and the payment
of audited net profits from such wagering to licensed racing association.
Present law provides a permitting process for a qualified racehorse wagering operator to conduct
racehorse wagering at the land-based casino and requires the racehorse wagering operator to provide
to the licensed racing association 25% of audited net profits from this activity to be used as purse
supplements.
Proposed law substantially retains present law but changes the present law amount that the racehorse
wagering operator is required to provide the licensed racing association for purse supplements from
25% of audited net profits to 15%. Proposed law further makes present law and proposed law
specifically applicable to fixed-odds racehorse wagering.
Proposed law defines "audited net profits" as gross revenue from actual wagers minus promotions
of not more than 25% of gross revenue, state taxes, and fixed-odds content or distribution fees of not
more than three percent of gross revenue.
(Amends R.S. 27:249.1)