The recession was particularly hard on race tracks. Think about it- at a race track you can wager on a dog or horse and hope to win the big payout. When people were struck by the difficult financial times of the past eighteen months, they had to cut back. That cutting back included wagering on horse and dog racing. In fact, throughout the country most race track owners will tell anyone who will listen that they are on the verge of closing without some serious reinvigoration of their markets. Most race track operators believe that without a serious change they will have to close altogether. They are fighting hard for legislation to allow them the change so they can bring in enough revenue to at minimum sustain themselves until racing alone improves as a market.
One of the biggest pushes race track owners are hoping for is bringing slots gambling into their racing floors. They are hoping that slots will be the key to turning their individual markets around. For example, slots have proven their effectiveness in the market. The simple machines bring in millions consistently. Even Las Vegas casino owners reported recently that slots make up about 60% of their overall income from casino gambling. Slots are a proven money maker and now race tracks want to use them to change their markets. The combination of race track and slots parlor would be called a “racino.” Many race tracks are making room for a casino floor within their gaming centers. They believe that this is just what they need to save their businesses and without the change many will have to close their doors officially.
The problem is that there is competition and bringing slots to the race tracks of the US is not without its own repercussions. Local casinos are worried that their businesses will be compromised if new slot parlors are avaialble throughout every state. If people can play slots anywhere, what is the likelihood they will travel to their favorite casino for gaming fun? Casinos are fighting the legislation tha would allow for racinos to be developed. Only time will tell how far the market will go or how much will be allowed within states in the US.