Breeder Awards Case Study: Pennsylvania
An influx of cash isn’t the only solution to a viable racing industry, breeders also need to be certain of long-term funding. Pennsylvania is an excellent case study of how a breeding industry will rapidly decline without such assurances, but recent legislative changes have the state on the verge of a second wind. Since 2010, Pennsylvania thoroughbred and standardbred horsemen receive almost $250 million a year from 12 per cent of slot revenue to support the State Racing Fund. The horsemens’ revenue from slots in 2017 amounted to $239 million of which the thoroughbred industry received about $139 million, and of that 16 2/3 percent (about $23 million) went to fund the thoroughbred breeding program. In addition to funding purses, pensions, healthcare, and breeder awards, that fund was also supposed to accumulate a reserve supply of cash to safeguard the industry against any changes to the financial structure. Instead of…
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