Horse racing, once known as “the sport of kings,” is facing a bleak future in California and Florida, with the potential of disappearing within the next decade. These two states play a crucial role in propping up the industry alongside New York and Kentucky. A recent report by the Los Angeles Times highlights the struggles of horse racing in California, shedding light on the challenges threatening the sport nationwide.
The decline of horse racing can be attributed to various factors, including the lack of legal sports gambling options in California, lower purses for races compared to other states, and a general lack of political support for the industry. The Stronach Group, which owns major racetracks such as Santa Anita Park and Gulfstream Park, is even considering selling off these properties due to their valuable real estate.
The impact of a potential decline in horse racing goes beyond just the sport itself. Kentucky, a key player in the industry, heavily relies on the equine industry, which generates billions of dollars in economic impact, supports thousands of jobs, and contributes significant tax revenue to the state. If California and Florida exit the business, the ripple effect will be felt in Kentucky.
As the future of horse racing remains uncertain, those invested in the industry are urged to pay attention to the challenges facing the sport and its potential implications. By understanding the issues at hand, stakeholders can work towards securing a sustainable future for horse racing in Kentucky and beyond.
Source
