In his most recent column on nypost.com, writer Ray Kerrison has stated that he believes America horse racing is bankrupt

.

"It is bereft of funds, profits, leadership, ideas, energy and optimism. From New York to Los Angeles, and many circuits in between, it is sitting on its hands, waiting for politicians to rescue it with slot machine bailouts.

"The spectacle is humiliating," he writes.

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(With files from nypost.com)