"There is no doubt it is the growth (of racing) in Indiana, Illinois, West Virginia and now Ohio that will be the death knell to the year-round Kentucky racing circuit."
The above quote is an excerpt from Keeneland Race Course President and CEO Nick Nicholson. According to a report by Business Lexington, last week Nicholson was a guest at a roundtable luncheon put on by 'Women Leading Kentucky.'
The article explains that Nicholson discussed the Kentucky equine industry, the 2010 Alltech FEI World Equestrian Games, as well as the safety, breeding, sales and racing aspect of the state's thoroughbred industry.
Nicholson also addressed the increased competition from neighbouring states, and cut right to the chase while doing so.
"Many states around Kentucky have gone to a gaming philosophy to raise money for their state government and they are earmarking some of that money for their horse business, which puts us at a competitive disadvantage," Nicholson was quoted as saying. "And the worse is yet to come. There is no doubt it is the growth (of racing) in Indiana, Illinois, West Virginia and now Ohio that will be the death knell to the year-round Kentucky racing circuit. That's not maybe; that's not in the future; it's just as sure as we're sitting here. So we have to come up with other strategies to protect as much of the industry as we can."
Citing the trouble the Kentucky racing industry faces without support from alternative gaming, Nicholson offered some other opinions.
"I don't think the year-round racing circuit in Kentucky is going to survive. You see purses going down; you see the handle going down. We're having trouble filling races. If you own a horse, it's an easier race in Pennsylvania for twice as much money."
(With files from Business Lexington)