Why is the racing industry declining?
Louisiana, Oklahoma and New Mexico allow several forms of gambling. But of greater importance to the Texas racing industry is the fact that all three allow slot machines at their racetracks. The slot machines at racetracks in Louisiana, Oklahoma and New Mexico generate significant revenues. A large portion of those revenues is allocated for purses paid to the owners of winning horses and greyhounds, as well as breeders and others involved in racing. Revenues are also used for the benefit of track employees, infrastructure improvements and many other additional expenses. In addition, the revenue funds incentives for horses bred in those states. These incentives are not paid to Texas-bred horses.
