Click Now!

Texas Racetracks Look to Historical Racing Terminals

Texas Racetracks Look to Historical Racing Terminals

Racetrack owners in Texas are seeking permission from state regulators to install racing terminals that look like slot machines. The machines are known as historical racing terminals and owners think that they could provide an essential revenue stream which would help the struggling industry.

Texas Racetracks Look to Historical Racing Terminals

Racetrack owners in Texas are hoping to receive permission to install historical racing terminals in order to bring in much needed revenues.

However, slot machines are illegal at Texas racetracks and some are arguing that the terminals are just horse-themed slots.

Those in favor of the machines argue that the law does not say that pari-mutuel betting be only for live horse races.

They want to include terminals that display video feeds of previous races held at tracks across the US.

Before being shown, the feeds are stripped of any information that could help the bettor identify the race.

Racetrack owners are hoping that they can make the change without needing a change to the state’s law. Rather, they think that they just need approval from the Texas Racing Commission which is due to consider the matter this week. However, the Commission spokesman said that no decision will be made before August.

Racetrack owners desperately need to bring in more revenue as horse owners are turning to tracks in other states where the purses are larger. This is because in neighboring states, such as New Mexico and Oklahoma, slot machines are legal at racetracks.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.