Bet In USA

Gordon Medenica, New York lottery director, is convinced that racetracks are dragging profitability from casinos, this resulting in a loss of revenues to be assigned to the state’s education. In this time of economic struggle every single penny is valuable and the competition between gambling activities is heating up.

One one side there is Medenica stating that US horse racing tracks are responsible for a decrease of casinos profits. He is asking for more video lottery terminals at the race tracks in order to balance the loss that Racinos (this is how casinos situated in racetracks facilities are called) are making. In his point of view sharing the same location with horse racing is not helping at all the Racinos profits. The two businesses are separated and not supporting each other. The concern of Medenica is related to the Lottery mission of helping education.

The Racinos net win has actually increase by 10.3%, but due to a changes in the law that is now assigning a greater share of the earnings to race tracks, the lottery proceedings has dropped by 9%. Less revenues for lottery also means less money for the state education budget. He also added that New York casinos have to face increased competition from neighboring States and that the battle is fierce. Racinos were created to support the horse racing industry but now this industry is taking profits from the lottery.

He didn’t have to wait long for a reply that came from Sen. Michael Nozzolio who pointed out that Racinos do exist thanks to the horse racing industry. He added that horse racing in New York State is not only a gambling business, is an important part of the local culture and tradition. Also the development of horse farming is growing well and the State needs to support this industry. We are sure the argument is not over, the battle for profits has just began.