Gulf Greyhound Race Track getting a hard time from tax collectors in Texas
Gulf Race Track is going through financial difficulties with the state Legislature. They have already paid $1.7 million and it is expected that they might have to pay more.
It all started earlier this summer when Gulf Race Track did not file its schedule for the races to be held in 2012 and the first eight months of 2013 by the state racing commission’s deadline, 15 July.
Therefore, they are refraining from scheduling anymore races for 2012 for the time being.
Nationwide, greyhound race tracks have been closing down due to gambling prospects offered by other games. Gulf Race Track was the only race track to offer full time racing schedule for greyhound racing.
Of the 632 races planned to be held in the year 2012 and 2013, 622 had been planned to take place at the Gulf Race Track. The track makes a good deal of money from races each year.
In 2006, the track operators at the park paid $200,000 in fees to the state and it was expected to increase to $400,000 the next year. This forced the track operator to file a petition to the state to decrease the number of live races held each year.
The general manager of the Gulf Greyhound Racetrack says that until it is decided how much more fees the state plans to charge them, they would not be scheduling any races.
Millions of dollars made from horse and greyhound racing go uncollected in Texas each year.
A total of $81.4 million of winnings in horse and greyhound racing in Texas has gone uncollected, about $1.7 million a year.
The situation aggravated when the judiciary in the 82nd legislature made a decision that pari-mutual winnings of the race would be collected by the state.
Hence, the commission met with stakeholders late in July, in Austin, to discuss the adjustment of fees that track operators must pay to the state.
Hopefully the state would decide a reasonable amount for the track operators to pay as fees. In case this does not happen, the Guld Race Track may also have to be shut down like numerous other tracks in US.
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