With barely a week left in Louisiana’s legislative session, the future of the state’s historic horse racing industry may come down to the wire.
Following a recent Louisiana Supreme Court ruling on historical horse racing machines, the owners of the Fair Grounds Racetrack in New Orleans say their $40 million investment in the machines, including hardware and software, could now be a loss.
Without legislative action, it may mean the end of a 153 year tradition.
Jason Boulet, who manages operations at the Fair Grounds, says the ruling could have statewide repercussions.
“Racing ranks third in the state under tourism and oil for its economic contribution to the state,” Boulet said.
The Fair Grounds is not just a New Orleans institution. With off-track betting (OTB) locations throughout Louisiana and a bustling equine industry behind it, Boulet says the racing sector supports jobs and revenue far beyond the track.
“The economic impact that the Fair Grounds has reaches far and wide.”
Boulet adds that corporate leadership is in ongoing talks with lawmakers and remains hopeful a solution will be reached before the session ends.
“We’re optimistic about the outcome,” Boulet said. “But the deadline is quickly approaching.”
If the legislature fails to act, it could bring Louisiana’s storied racing legacy to an abrupt halt.
The issue is the machines that let bettors place wagers on videos of randomly selected past horse races, which store databases of historical racing results over several decades. Gamblers see just the odds for each race with no horse or jockey identity information.
Opponents successfully argued that this represents a new form of gaming and requires a local option election in each parish before the machines can be used.