‘Madness’? Pennsylvania Newspaper Slams Slots Revenue As ‘Staggering Amount of Corporate Welfare’

Pennsylvania’s leading newspaper, the Philadelphia Inquirer, has published an editorial calling the $2.4 billion the horse racing and breeding industry has received from casino revenue since 2006 “a staggering amount of corporate welfare.”

Citing a recent report from the Pennsylvania Gaming Control Board that shows ongoing declines in track attendance, the number of races run and the number of horses bred and raced in the Keystone State (the editorial failed to mention a slight uptick in wagering on horse racing in 2017), the Inquirer asks: “If multiple billions can’t turn around an industry, isn’t it time we asked how much longer we’re willing to try before altering the arrangement?”

The editorial board, which points out that Pennsylvania now ranks second only to Nevada in gambling activity, suggests the money can be put to better use than supporting horse racing and breeding.

The editorial concludes: “To be sure, these billions of dollars are not public money per se: They are actually taxes on the money lost by slot machine gamblers. In other words, gambling losses in one sector (casinos) are used to prop up losses in another gambling sector (racing). In a state that has to scramble to balance its budget each year, is this not madness?”

Inquirer editorial

The post ‘Madness’? Pennsylvania Newspaper Slams Slots Revenue As ‘Staggering Amount of Corporate Welfare’ appeared first on Horse Racing News | Paulick Report.

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