Casino Gambling and Horse Racing Build on Each Other
A study brought before the Iowa Racing and Gaming Commission says that casino gambling revenues increase when paired with horse racing. The gaming industry has long acknowledged the need for slots and other games to support horse tracks and racing purses, but Richard Thalheimer's research indicates that the benefits flow the opposite way as well.
According to a report by Radio Iowa, Thalheimer told the commission that when live horse races are held, slot machine revenues increase by thirteen percent.
In response to questions about the wisdom of using income from slot machines and casino gambling to subsidize racing, the study revealed that casino take was highest when live racing was scheduled, then during simulcast races, and lowest when racing was closed.
Thalheimer also asserted that the racing industry in Iowa had an economic impact of $123 million annually, and provided more than 2200 jobs. He also demonstrated that simulcast betting increased when live racing took place.
The report clearly shows the symbiotic nature of horse tracks and racinos. While it may seem that horses only draw funds from the slots, the attraction of the racing lures more patrons to play the slots. Each faction of gaming is better off working in conjunction with the other.
