Bryan submitted bill tied to St. Thomas racetrack settlement

Gov. Albert Bryan Jr. submitted a proposed bill and related agreements to the 34th Legislature on March 2, 2022, following a settlement between the Virgin Islands government, Southland Gaming and VIGL over the redevelopment of Clinton E. Phipps Racetrack on St. Thomas.

According to Government House, the proposal would limit gaming at the racetrack to video lottery terminals regulated by the Virgin Islands Lottery, remove provisions of the Racino Act that would have allowed slot machines at the facility, and revise a Casino Revenue Fund allocation in Virgin Islands law so it totals 100%.

Under the settlement terms described by Government House, Southland would build a facility in the grandstand and provide 50 VLTs, while VIGL would operate the VLT facility and serve as promoter of races at the track.

Government House said Southland also agreed to contribute as much as $100,000 per race day, up to $600,000 a year, for purses at the St. Thomas track for the duration of its contract with the government. The contract was to be extended by 13 years to match the term of VIGL's agreement.

The proposal also would direct racetrack gaming tax revenue to St. Croix purposes only and provide funding to support horse racing on St. Croix.

In a transmittal letter to Senate President Donna Frett-Gregory, Bryan said the government and VIGL had already amended their franchise agreement to separate obligations for the St. Thomas and St. Croix racetracks so renovations could begin at the St. Croix facility. Government House said further amendments would remove development of the St. Thomas racetrack from VIGL's franchise agreement if the Legislature approved the Southland agreements.

Official source: https://www.vi.gov/governor-bryan-submits-bill-advancing-st-thomas-racetrack-after-settlement-agreement-between-gvi-southland-and-vigl/