Ohio Racetrack Owners Worried about Future
Ohio is in the midst of problems regarding gambling and setting the laws. Many states in the US are having heated debates over how to write laws and change the face of gaming and how it is used by the economy. It was last November that the approval for four new casinos was passed. State officials were excited because of the potential because they saw it as a means of bringing in much needed cash flow. Since the recession began economies everywhere have suffered greatly. It has been a difficult time and state legislators, along with cities, are hoping that gambling is just what they need to turn things around financially. It has worked for other cities and now this one is hoping to capitalize on the change to turn the economy around for the good.
The changes are now without consequence though. In Ohio the biggest casualty is the struggling racing industry. Of all the industries that have taken hits during the recession, racing probably is one of the most hard-hit. People suffered high unemployment rates and quickly cut back on discretionary spending. This included gambling and racetrack wagers. Though gambling I seemingly on the rise, racing has yet to come to any clear turnaround. In fact, the numbers are continuing to decline. This is horrible news for the race track owners who were hoping to see the same turnaround that other industries have seen post-recession. Things don’t seem to be turning out that way now that the industry is settling.
In Ohio racetrack owners are particularly concerned because if the four casinos do open it could take what little business racetracks have now completely away. Also, considering that racetracks were making moves to gain approval to include slots gaming at their locations, now this could hamper that. Even if they do get the approval, there are going to be so many widespread choices for gaming at the four state-of-the-art casinos that visiting a racino will be all but unnecessary. State racetrack owners are holding their breaths in anticipation of what comes next. All too many are worried that the only alternative will be to shut their doors permanently.
