In Massachusetts, Plainridge and Suffolk Downs haven't made $$$ in years.
Taxpayers are bailing them out? Why?
A dead industry...how many other industries should Massachusetts taxpayers support that make greater sense?
State’s horsemen weigh in on Delaware’s gambling revenue structure
By James DawsonDecember 4, 2013
Both arms of the horse racing industry in Delaware say the state needs to decrease in the its share of gambling revenue if racing in the First State is to remain viable.
Representatives for standardbred and thoroughbred racers spoke to the Lottery and Gaming Study Commission Tuesday, echoing appeals from the state’s three casinos have made before the panel tasked with up righting the ailing gaming industry.
Standardbred purse totals declined $18 million from 2007 to 2013 while tracks trimmed 41 racing days during that same time period.
This summer’s thoroughbred racing schedule was the shortest since 1984.
Former longtime State Representative Bill Oberle told the commission he thought it was a mistake to raise the state’s share of gambling revenue in 2009 to bridge an unprecedented funding gap, even though he signed off on it.
“You have these licensees who have made capital commitments, have operating expenses – long term capital commitments – and we pulled the rug out from underneath them and I’m not sure that, in hindsight, that was the best thing to do,” said Oberle.
Finance Secretary Tom Cook chairs the commission and says similar state committees have tried to fix the industry in the past, but they’ve acted more like band-aids.
“We’ve been able to start table games, sports betting, internet gaming, but I’m out of tools right now. At one point, we have to decide where do we go from here? What is the next step and what is the most fair and equitable structure that should exist?”
Cook urged commission members to submit proposed recommendations for the panel consider in two weeks. The commission is required to issue its official report by the end of January.
- See more at: http://www.wdde.org/53776-delaware-horsemen-gambling-revenue#sthash.SX1PA6S8.dpuf