ADW Licenses Conditionally Approved at Friday’s Racing Commission Meeting

 

The licenses of the four ADW companies that do business in Virginia were conditionally approved for renewal as of January 1, 2015 during Friday’s Virginia Racing Commission meeting.

Twin Spires, TVG, Xpress Bet and Colonial’s EZ Play currently are licensed to take wagers from residents of Virginia. The licenses will renew as long as the companies are current with their statutory payments to the Horsemen’s purse account, Breeder’s Fund and the Virginia Racing Commission.

As of Friday’s meeting, only Xpress Bet was up to date on their payments. A representative from Twin Spires stated that the company intends to make the required payments, and while TVG was not represented, it has indicated that it will comply. Colonial Downs did not indicate whether it would comply with the statutory payments.

Under Virginia law, these companies are required to pay the 5% ADW host fee to the unlimited licensee. Since Colonial Downs has turned in its operating license, they argue there is no unlimited licensee so there is no need for them to make the payment. In an October 31st letter, the Commission instructed all of the companies to pay the fee originally earmarked for Colonial Downs as the unlimited licensee to a Commission escrow account.  Hopefully the industry will be able to recapture that money as it is needed to move racing and the industry forward in the future.

In other news on the agenda, Jeb Hannum was introduced as the new Executive Director of the Virginia Equine Alliance and he updated the Commission on the Alliance’s vision for the future of Virginia’s racing without Colonial Downs. After the meeting, representatives from Colonial Downs, the VHBPA, the VEA and the Commission gathered to discuss the possibility of a mutually agreed-upon legislative agenda. It appears that this will hinge on an agreement for racing at Colonial Downs in 2015.