HOT SPRINGS, Ark. (AP) - More and more states are adding slot machines and other forms of gambling to horse and dog tracks.
While horsemen welcome the extra revenue in the form of bigger purses, there are questions about whether the so-called racinos are a reliable business model. Hall of Fame trainer D. Wayne Lukas says he worries that casinos will someday overshadow the racing.
The American Gaming Association says consumer spending at racetrack casinos increased 5% in 2009 to $6.4 billion despite the recession. But that doesn't mean more people are betting on the races: According to The Jockey Club, the total pari-mutuel handle on U.S. Thoroughbred races in 2009 dropped 9.8% to $12.3 billion.