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One thing for certain, the economics of racing suck.
Many tracks need casino subsidies to stay open, most owners are losing money, and almost all horseplayers lose gambling. I don't know enough about how trainers, jockeys, and breeders are doing, but I don't feel like I'm going too far out on a limb if I say a lot of not making a good living or are also losing money.
I don't see how you can fix some of that unless you drive way more handle into way fewer tracks and gain some operating leverage at the surviving tracks. If the remaining tracks had significant free cash flow, they could make the investments they need, market more, raise purses, and lower the take.
The downside of course is way less employment and way fewer tracks.
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"Unlearning is the highest form of learning"
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