Once again, in 2016, slot machine revenue was significantly higher on race days vs. non-race days at PA tracks. That's just some of the good news highlighted in the 2016 Annual Report from the Pennsylvania Gaming Control Board, and it shows how strong and mutually beneficial the relationship is between horse racing and casino gaming.
So, why exactly is that great news for PA residents?
So, why exactly is that great news for PA residents?
For every dollar of slot machine revenue, 54 cents is returned to Pennsylvanians. That means when more money is wagered, more money becomes available for things like property tax relief, local government grants, economic development and tourism promotion.
But the horse racing industry by itself produces strong economic benefits. According to the report, "Individuals and businesses are continuing to participate in live racing in Pennsylvania. More than 18,000 horses raced in Pennsylvania in 2016 making more than 83,000 starts throughout the year. This enhances the agricultural economy as horsemen do business within the Commonwealth by purchasing goods and services to support their operation. Horse owners also maintain a staff and hire individuals such as trainers, grooms, veterinarians, blacksmiths, farm hands, exercise walkers, hot walkers, and drivers who all work in Pennsylvania."
In short, PA horse racing attracts investment that results in more money and more jobs. And because slot machine gaming increases on race days, more money becomes available for tax relief and local community projects. And that's good news for everyone.
But the horse racing industry by itself produces strong economic benefits. According to the report, "Individuals and businesses are continuing to participate in live racing in Pennsylvania. More than 18,000 horses raced in Pennsylvania in 2016 making more than 83,000 starts throughout the year. This enhances the agricultural economy as horsemen do business within the Commonwealth by purchasing goods and services to support their operation. Horse owners also maintain a staff and hire individuals such as trainers, grooms, veterinarians, blacksmiths, farm hands, exercise walkers, hot walkers, and drivers who all work in Pennsylvania."
In short, PA horse racing attracts investment that results in more money and more jobs. And because slot machine gaming increases on race days, more money becomes available for tax relief and local community projects. And that's good news for everyone.
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