Deal prevents Nevada horse race betting from shutting down
By Steve Green, Las Vegas Sun
Nevada’s $59.5 million horse race-betting sector will continue operating after the Nevada Gaming Commission pressed Thursday for the industry to avert a shutdown that threatened to take effect as early as today.
The shutdown was threatened after the state’s 83 race books were unable to agree on a new contract with Las Vegas Dissemination Co., the lone facilitator of pari-mutuel wagering in Nevada.
For a fee, the company disseminates information on races throughout the country and arranges for funds wagered in Nevada to be included in the pari-mutuel pools for each race at each track. In pari-mutuel wagering, bettors bet against one another on the outcome of races with the tracks and sports books taking a cut of the dollars wagered.
