BALMORAL & MAYWOOD WELCOMES CANADA

08:12 PM 01 Jul 2005 NZST
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Balmoral Park and Maywood Park jointly announce that on Tuesday, July 5th, Balmoral Park and Maywood Park will become the first U.S. racetracks to conduct foreign common pool pari-mutuel wagering from Canadian wagering facilities.

In the fall of 2004, the U.S. Congress passed an International tax bill which clarified that the 30% alien withholding provision does not apply to non-resident aliens in foreign countries wagering on U.S. races through international pools, paving the way for Canadian tracks to bet directly into U.S. pools.

“This is a significant step in expanding the international market for Balmoral Park and Maywood Park,” said John Johnston, President and Vice President, respectively.

“We expect that our pools will grow 10% from Canadian tracks betting directly into our pools and experience has shown that the larger the wagering pools, the more attractive the opportunities for wagering are, and the more that it is bet.

We welcome the country of Canada into our pools” Johnston added.

ourtesy Of Mike Paradise, Publicity Director, Maywood Park

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