TRACK OWNERS JOIN FORCES TO DEFEAT ‘BOOKIE AMENDMENT’ by Paulick Report Staff|11.17.201011.17.2010|12:48am12:48am PRESS RELEASE A coalition of racetracks call for the defeat of a bill that has been amended to create a new class of online wagering in California. AB 2414, authored by Assembly Speaker John Perez (D-Los Angeles), was significantly altered to allow bettors to wager on a horse to lose – a practice that is currently illegal in California and every other state in the union. AB 2414 also legalizes the practice of “exchange wagering” – a system that relies on third parties to assume and pay out on wagers. There have been no committee hearings on the amendment and no chance for public comment on the proposed changes. “With attendance and handle declining in the racetrack industry, we cannot afford to risk purses and jobs on a hastily crafted legislative experiment that is light on specifics. With jobs and people's livelihood at stake, we all need to do our homework,” stated Bill Carstanjen, Chief Operating Officer of Churchill Downs Incorporated. “Preserving, maintaining and growing jobs, jobs, jobs, is the only type of racetrack and thoroughbred legislation we can support, and AB 2414 does not achieve this goal,” stated George Haines, President, Santa Anita Park Race Track. Churchill Downs Incorporated, Santa Anita Park Race Track and Golden Gate Race Track are calling upon all horse owners, trainers, and racing fans and their legislative representatives in Sacramento to vote against this bill, AB 2414.