Racetrack slots: A cautionary tale
It appears that the Kentucky thoroughbred industry will soon start reaping the benefits of racetrack slot machines. On Wednesday, a Senate subcommittee in the Bluegrass State approved a bill that will allow voters to approve as many as seven casinos in the state. There are several more hurdles that have to be cleared before racetrack slots come to be in Kentucky, but it seems likely that racetrack gaming is going to happen there.The latest news put a big smile on the faces of many a Kentucky owner, trainer, breeder and racetrack operator, but before they go into full celebration mode they ought to take a moment to consider what's going on in Ontario and Pennsylvania. In that state and province, racing is in turmoil and horsemen there realize a lot of that has to do with the many mistakes they made when it comes to racetrack casinos.
The same politicians that signed bills that provided the sport with a huge windfall from casino gambling can just as easily change those laws and pull the plug on the gravy train.
As it is, particularly in Pennsylvania, virtually nothing is spent on marketing racing.