Slots Revenues in Florida Will Not Likely Help Breeders
Florida's thoroughbred industry claims to be entitled to the profits generated by the proposed slots casinos. Considerable sums of money have been invested by pari-mutuel industry members in order to promote legislation permitting slots in counties such as Broward and Miami-Dade. Thus, racetrack owners would naturally like to benefit from the fruits of their labors by raking in cuts of the slots revenues. Breeders, however, are in battle with racetrack owners to to get a cut of whatever is left of these funds.
Richard Hancock, executive vice president of the Florida Thoroughbred Breeders and Owners Association was quoted as stating that the industry is quite prosperous, but rivalry among racetrack owners regarding slots revenues would simply ruin the industry. That is the main reason for the breeders’ demand for a purse in the slots bill. In the meantime, racetrack owners oppose the idea.
It currently seems that although the Senate and the House disagree on several matters, such as the rate of taxes for slots and what sorts of slot machines to allow, there is one matter on which they see eye to eye. Neither the Senate nor the House encourage legislation providing financial support for breeders.
