Archives for October 6, 2021

Millions Unused in This State Fund Intended to Benefit Thoroughbred Racing

30/9/2021 Horse Racing Tips and Best Bets – WaverleyA recent audit of the Gaming Commission’s monitoring of gamblers listed on gaming exclusion lists found no deficiencies, but Auditor Suzanne Bump said the agency could do a better job of collaborating with the Legislature and other organizations to address the horse racing industry here, including the use of casino revenues to support racing.

The 2011 law that legalized casino gambling in Massachusetts carved out a portion of gaming revenues to flow into a Race Horse Development Fund (RHDF) that is meant to support each side of the horse racing world — the standardbreds that run at Plainridge Park Racecourse in Plainville and the thoroughbreds that used to run at Suffolk Downs. But with thoroughbred racing gone from the Bay State and the state’s casinos raking in record amounts of revenue, the statutory restrictions on the fund have led to a $20 million pot that largely cannot be spent as intended. …

“While MGC has done a noteworthy job managing the state’s emerging gaming industry, our audit makes clear the Commission should bring all relevant stakeholders to the table to consider the Race Horse Development Fund’s most effective use,” Bump said. “This consultation and collaborative effort would enhance oversight of the fund, and would benefit breeders, owners, and the industry as a whole.”

As of the end of August, the fund had a balance of more than…