With the induction of casino gambling, horse and dog tracks around the country have struggled to stay open. Kansas has attempted to allow tracks to offer slots to help maintain the industry. Casino Watch originally commented on how greedy Kansas’ gambling deals were when they allowed a Frontenac, KS dog track to close down because the owner was unwilling to invest all of the money necessary to run a racino and pay a ridiculous 40% gross tax and a 60% effective tax to the state. Now it looks like the Woodlands will follow suit:
In a statement Tuesday afternoon, Woodlands President Howard T. Grace said that live greyhound racing, Thoroughbred and quarter-horse racing at the track will come to an end Aug. 24.
“The pari-mutuel industry has faced declining revenues for years, and The Woodlands has been no exception, operating at a financial loss for quite some time,” Grace said.
It was believed that once slots at tracks were legalized, the tracks of the state would profit and stay in business. Instead, Kansas’ greed and addiction to gambling revenue has pushed one of the states most recognized tracks out of business.