Second costly threat looms for Prairie Meadows casino

Second costly threat looms for Prairie Meadows casino

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BPC Staff | Jun 20, 2016 | 3:12 pm |

<1 min read time

Reclaiming tax-exempt status is only the start of Prairie Meadows' battle against the IRS.

Des Moines Register: Reclaiming tax-exempt status is only the start of Prairie Meadows’ battle against the IRS. If Prairie Meadows wins that fight, the nonprofit racetrack and casino still faces a potentially greater threat: The IRS contends that slot machines, table games, hotel, restaurant and other nonracing revenue streams should still get taxed as “unrelated business,” according to an IRS audit released last week.