news.enquirer.com
Thoroughbred breeders and racetrack operators are pressuring lawmakers for slot machines in Kentucky and Ohio.
They say racetrack slots may be the only thing that can reverse lagging fortunes, especially in Kentucky's $4 billion-a-year, signature horse racing industry.
They say they've watched their influence and revenue drop as horse owners have left Kentucky for states that offer casino gambling at race tracks.
Because those "racinos" bring in more revenue through gambling, they can offer bigger payouts for horses and more tax breaks for owners.
"We can't compete," says Bob Elliston, president of Turfway Park in Florence. "We can't compete for customers with the casinos in southern Indiana, and we can't compete for horses because tracks with racinos are offering better purses."
Since 1999, Turfway's average daily purse, or payout to winning horses, has dropped 15 percent to $156,515. By contrast, the purse at Charles Town Races and Slots, a racino in West Virginia, has grown 192 percent, to $224,692 today.
The daily purse at Delta Downs racino in Louisiana has grown 407 percent, to $197,760 today.
A newly formed Kentucky Equine Education Project plans to spend $1.4 million to promote horse racing and make the case for racinos.
"We're going to go after any piece of legislation that is best for Kentucky and best for the horse industry," says former Gov. Brereton Jones, a group founder and horse breeder.
Thoroughbred breeders and racetrack operators are pressuring lawmakers for slot machines in Kentucky and Ohio.
They say racetrack slots may be the only thing that can reverse lagging fortunes, especially in Kentucky's $4 billion-a-year, signature horse racing industry.
They say they've watched their influence and revenue drop as horse owners have left Kentucky for states that offer casino gambling at race tracks.
Because those "racinos" bring in more revenue through gambling, they can offer bigger payouts for horses and more tax breaks for owners.
"We can't compete," says Bob Elliston, president of Turfway Park in Florence. "We can't compete for customers with the casinos in southern Indiana, and we can't compete for horses because tracks with racinos are offering better purses."
Since 1999, Turfway's average daily purse, or payout to winning horses, has dropped 15 percent to $156,515. By contrast, the purse at Charles Town Races and Slots, a racino in West Virginia, has grown 192 percent, to $224,692 today.
The daily purse at Delta Downs racino in Louisiana has grown 407 percent, to $197,760 today.
A newly formed Kentucky Equine Education Project plans to spend $1.4 million to promote horse racing and make the case for racinos.
"We're going to go after any piece of legislation that is best for Kentucky and best for the horse industry," says former Gov. Brereton Jones, a group founder and horse breeder.
