The determinative question for Kentucky is whether the Colonels in the legislature will be “too late” in acting in the immediate self interest of the horse racing and breeding industry. The long-term vitality of the entire Commonwealth could be riding on the answer, provided that the tax revenues from racetrack casinos are properly channeled to investments in science/engineering education, technical job training, funding promising nascent products/businesses, and infrastructure needed in a high-technology economy.

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by Eugene Martin Christiansen Editor’s Note:  This article was published in November 2004 in Insight — The Journal of the North American Gambling Industry. It is reprinted (with permission) in light of its relevance after the acquisition of TV Games Network by Betfair Group Ltd. from Macrovision for $50 million–which was announced on January 27, [...]

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In a battered state economy that is so dependent on the shaky “Big Three” automobile manufacturers, Ohio needs every job source it can get. Ohio’s seven racetracks directly and indirectly employ many people and account for considerable local and state tax revenues, as do the independent contractors like trainers, veterinarians, and feed suppliers, whose businesses depend on the racetracks and the farms. Horse racing is a sizeable agribusiness in Ohio and should be cultivated by elected officials. One sure way to do that is to allow the racetracks to be more competitive so that their customers are not lured to the racinos and casinos in nearby states.

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