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May 26, 2017 2:45 PM
Texas racing industry continues to struggle with loss of legislation
“This is new territory for …there’s no way for us to speculate for what’s going to happen.”
The Texas Racing Commission will be cashing
in its chips, so to speak, to close out its current fiscal year, after a slew
of bills to stabilize the industry failed to pass this session.
The Texas racing industry continues to limp along with
the recent loss over historical racing and total wagering activity declining. Year-over-year
wagering has dropped by 10 percent inside Texas and by a little over 5 percent,
when betting in other states is included, agency officials told commissioners
at the most recent meeting in April.
Early projections for the current fiscal year put the
agency $125,000 to $130,000 in the hole. Spokesman Robert Elrod said
that gap has closed, to some extent, and the commission’s rules committee will
meet next week with stakeholders to outline a so-called cash call.
By Kimberly Reeves
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Copyright May 26, 2017, Harvey Kronberg, www.quorumreport.com, All rights are reserved 