206

Notwithstanding any other provision of law, the Virgin Islands Horse Racing Commission may authorize any corporation or association licensed to or awarded a lease franchise or concession agreement to conduct horse racing and authorized to conduct parimutuel betting, to conduct off-track betting on its horse race meetings held within the Virgin Islands, subject to any rules and regulations established by the Commission in the best interest of the public; provided, that the 'parimutuel take' shall not be greater than seven percent more than that of the on-track parimutuel take and that two percent of the said amount shall be added to the four percent of the parimutuel take which shall be paid to the Government of the Virgin Islands in lieu of the gross receipts tax for the privilege of conducting such betting.