Revised Horse Racing Deal Adds Five-Year SGVI Commitment, Removes Full Tax Exemption and Doubles St. Thomas-St. John Share

Governor Albert Bryan Jr. has submitted a revised horse racing agreement to the 36th Legislature that now requires SGVI to remain the promoter of horse racing for at least five years, removes a proposed full gross receipts tax exemption for entertainment activities at the racetracks, adds quarterly gaming revenue reporting, and doubles the St. Thomas-St. John Horsemen Association’s racino revenue share from 3% to 6%. The revised proposal advances a plan to rebuild the Randall “Doc” James Racetrack on St. Croix and support the operation of the Clinton E. Phipps Racetrack on St. Thomas. It follows concerns raised after the original agreement was transmitted to the Legislature on April 28, 2026. The proposal is centered on a public-private partnership with SGVI, Inc., formerly known as Southland Gaming of the VI. Government House said the amended submission should be reviewed as a coordinated package of interrelated documents intended to support the restoration and long-term operation o...