State of Colorado pondering on Senate Bill 233 – Horseracing news
The State of Colorado is currently pondering on the matter whether or not to allow video lottery terminals to operate on the racetracks of the region.
The horse racing industry of the entire nation has been suffering because of the recession that hit the country in the past. Most of the industries still have not been able to recover from the disastrous effects of the recession. The horse racing industry
was already dealing with problems of attracting crowds as the younger generation does not generally find the sport entertaining enough. Therefore, all the attention that the industry had been getting was from the aging group of fans that is now dwindling.
To make matters worse, the recession caused many horse tracks to be shut down it. It also resulted in a decrease of live horse racing days that the operational racetracks could feature. Not only that, the size of the purses of the races also shrunk as the
number of people willing to bet in the horse races decreased.
In such dismal circumstances, many states turned towards other measures that would enable them to attract a greater number of crowds. Some states are looking into legalizing off track betting while others are wondering about the pros and cons of internet
poker. Video lottery terminals are also one such measure, in this case, pondered upon by the state of Colorado.
The matter under consideration is called the Senate Bill 233 that proposes to allow two horse tracks in the state of Colorado to operate video lottery terminals legally. This venture does not aim to serve the horse racing industry only, rather, it would
be helping the educational sector as well.
It is planned that once the video lottery terminals become operational in the state, all the cash earned would be allocated to the colleges in the area. Those colleges would be targeted that have been affected adversely by the budget cuts that took place
only recently.
However, everyone in the state is not taking the Bill 233 in a positive manner. The Colorado Gaming Association, for one, is not in favour of the bill as they think it would harm the business of the current casinos in the state.
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