ST. THOMAS — Following his whirlwind announcement on October 27 to partner with VIGL Operations, LLC to transform the horse racing industry in the territory, Governor Kenneth Mapp on Thursday proposed legislation which would amend Virgin Islands Code to allow the government to enter into an agreement with the aforementioned firm, a press release Government House issued late Thursday has made known.
According to the release, under the proposed 20-year franchise, VIGL would also be permitted to operate casino-style slot machines at the tracks to help generate the revenue required for increased purse offerings, maintenance, franchise fees and taxes, and specified charitable contributions.
In his transmittal letter to Senate President, Neville James, Mr. Mapp said that VIGL is a reputable entity doing business in two states, and also operates the Caravelle Hotel and Casino in Christiansted. The governor said his proposed amendments to the “Virgin Islands Horse Racing Industry Assistance Act of 2010” will ensure transparency, closer regulation, growth of the industry, and revenues for the public treasury.
Mr. Mapp also noted that the inclusion of slot machine gaming at the racetracks has raised no objections from established gaming operations. The pending agreement, he says, will result in an “experienced operator with deep pockets and contractual commitments to make large investments in the territory, which will improve and professionalize the Virgin Islands horse racing industry and attract new business.”
Any new agreement between the Government and VIGL is contingent upon the termination of an existing agreement with Traxco, Inc. to operate the race track on St. Croix. That matter is being litigated with all three entities in support, thus far, of the proposed terms of settlement, according to the release.
Tags: governor kenneth mapp, horse racing, us virgin islands
Share On Facebook
Tweet It
