The racino model is causing problems all over the place. On the surface that does not appear to be the case. Many racetracks will argue being allowed by their state government to bring slot machines or even table games into their venues has saved their industry. That is not exactly true. Although the racetracks that offer casinos are fairing better than the ones without, the racing industry is still on a steady decline. People just are not as interested in live racing as they once were.
For the venues and states that do not have racinos, things are only getting worse, especially if they are located next to a state that does follow the racino model. New Jersey is surrounded by states like Pennsylvania, Delaware, and New York that have all established the racino model to rescue their racing venues from financial ruin. As the laws of escalation predict, now the tracks of New Jersey, the Meadowlands and Monmouth Park are clamoring for their own slot machines. The problem that these tracks face is the long established casinos of Atlantic City. The last thing Atlantic City casino resorts need is competition from slot machines within the states after the slot machines of Pennsylvania took away about a third of their customer base.
Estimates predict that the racino model used by states surrounding New Jersey will siphon as much as $20 million in revenue from New Jersey’s Meadowlands and Monmouth Park this year alone. It is not likely that New Jersey will ever allow their tracks to operate slot machines.
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