Lawmakers approve Keeneland tax break for Breeders’ Cup

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FRANKFORT, Ky. (AP) — Lexington’s Keeneland racetrack will get a tax break from the state for hosting the Breeders’ Cup this fall.

The state Senate gave final approval to the bill on Wednesday, and a spokeswoman for Democratic Gov. Steve Beshear says he will sign it.

The bill would exempt the racetrack from the state’s excise tax on pari-mutuel wagering. The exemption would cost the state about $1 million in tax revenue. But supporters say the two-day event will generate more than that with spending from tourists.

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The Breeders’ Cup is returning to Kentucky for the first time since 2011. Louisville’s Churchill Downs has been a frequent host. But this will be Keeneland’s first time hosting the horse racing championship.