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Notice of Important Vote |
| At Annual Meeting | |
| Saturday February 10, 2007 | |
| Italian Heritage Center | |
| 40 Westland Ave. | |
| Portland, Maine | |
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On December 20th, 2006, the MSBOA Board of Directors voted to support a
change of statute which would allow the MHHA to be paid up to 3% of all
funds paid for purses (except nominating fees, starting fee and other
fees paid by owners) At the moment the MHHA may receive 1.5% of live handle purse supplement funds. No provision was made to allow the MHHA to receive money from slots additions to purses. As you know the live handle has been decreasing and the MHHA has been operating on a shoestring budget as a wholly voluntary organization. We voted to support this increase in funding to allow paid staffing of the MHHA. We did this for the following reasons: |
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| We are concerned that the tracks and even some members of our industry would like to stop paying the minimum purse which the tracks add to all betting stake races (track share). Up to now tracks have added this "track share" to all betting stake races but since the significant increase in stake purses there has been a position taken by tracks and some horsemen that stake races "do not need the money". This is the same as changing the industry agreement made for distribution of slots revenue and taking some of the Breeders Stakes money and redistributing it. |
| We believe that with the rapid expected increase in the number of stake races (the number of trotting mares bred in 2006 doubled), that the average stake purse will not rise dramatically over 2006 levels. The purse contribution from the tracks will be an important part of our income (it was about $111,000 total in 2006 and will increase as the minimum overnight purse and the number of stake races increases). |
| As a united group of horsemen and horsewomen speaking as one we were a force that was able to gets the slots referendum passed into law and protected our funds in the legislature. It is vital to our continued political success that we maintain the unity and cooperation of all horsemen and horsewomen. |
| In return for supporting the MHHA, the MSBOA and MHHA have agreed to the following: |
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| This issue will be discussed and voted on at our Winter Meeting |
| For more information contact : Michael D. Andrew (207) 839-4907 |