Over the past couple of years the Indiana breeding and racing industry has invested a ton of advertising money in both supporting and growing the sport in the Hoosier Park. This was as a result of years of casino money that grew purses in Indiana to levels that rivaled the neighbor state, Kentucky.
Following an attempt earlier this year by the Indiana legislature to reduce the amount of funds from slot machines at racetracks that are allotted to the horse racing industry, Indiana Inspector General David O. Thomas and attorney Kristi Shute issued a report making the same suggestion.
“Assuming that a continued subsidy to the horse racing community is deemed proper by the Indiana legislature, we respectfully recommend the legislature consider evaluating the amount of the subsidy and consider a monetary cap at pre-racino figures,” Thomas stated in the report, which was released Nov. 10.
The effect of such a reduction, which would require legislative action, would decrease horsemen’s funds from $58 million to $28 million. That’s over 50% for those calculating.
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