Slots Revenue Allows Maryland Horse Industry to Thrive
The Maryland Horse Breeders Association has said that it is performing well both on and off the track. Thanks to the program “Maryland Bred” the local horse industry is thriving while many others across the states flounder.The program uses casino revenues to pay horse race winnings and comes close to doubling bonuses that participating horses earn when they finish in the top three of a Maryland race.
Maryland based jockey Donnie Miller said, “The idea that the new breeding programs can add incentive to the industry or produce some of the best in the U.S. again is certainly something I think we look forward to.”
Seven percent of revenue from slot machines has gone to horse winnings, around $36 million for the first eleven months of the year. As a result the industry has been able to grow and funneled over $1.6 billion in taxes back into Maryland.
Furthermore, the bonuses are attracting more breeders to Maryland which in turn is creating more jobs. Farm owner Becky Davis said, “We now having people bringing horses back to breed and making them Maryland bred, we’ve been able to create a couple of new jobs on just our one farm.”