Illinois approves slots for bars, restaurants with liquor licenses and truck stops. Racing? Nope. The state of Michigan cuts the budget of their racing commission even though tracks contribute more than enough money to pay for the racing commission office and make the state money. Kentucky won't approve slots for their premier industry. Pennsylvania is looking to gut the racing fund for both breeds. Other states will start looking to do the same. New Jersey at the command of the casino lobby has their racing industry twisting in the wind though it makes no financial sense for the state to do so.
To paraphrase a New York Daily News headline from 1975: States to Racing: Drop Dead.
How did we get to this point? We blew it plain and simple. How did we blow it? Read this article from The Bloodhorse and you will know how. We got greedy and refused to invest in our industry and when the nation got hit with the worst economic slow down since the Great Depression, like any other business that didn't invest in themselves in the past, we are paying the price.
As a result, the industry will be going through a restructuring. Racetracks will be closing. Jobs will be lost. The breeding industry will be hurt. Fortunately, all will not be lost. While this is going to be painful, I don't believe it is the fatal blow. Like GM and Chrysler, there will be an opportunity to restructure and make our brand a better product in the long run. The key is are we willing to invest in ourselves? If so, we will survive. Hopefully, we have learned from our mistakes.
Our future depends on it.
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