The horse racing program in the state of Illinois can now see a ray of light following the possibility of four state riverboat casinos sharing a part of their profits to the declining industry.

According to reports, the riverboat casinos located in Joliet, Elgin and Aurora did not get a chance to have their challenge heard by the U.S. Supreme Court in relation to their appeal on the law requiring them to partake a percentage of their profit to the horse racing program of the state.

This means that the racetracks can get up to $80 million in estimated funds that were set aside since 2006. It could go higher now with the interests added. Racetrack owners are now looking forward to the release of funds.
The casinos have reportedly complied with the law by paying about three percent of the company’s takings but with protest. With the latest development, the casino officials have opted not to release a statement.

Riverboat gambling in the state was approved nearly two decades ago. The presence of these gaming venues has affected the horse racing industry with revenues dropping by almost 50 percent each year.