Money will flood over borders to Oklahoma, Louisiana and New Mexico

(Austin, TX)–Texans will spend an estimated $85 million over the coming Labor Day weekend in neighboring states’ casinos, hotels, restaurants and related expenditures according to a recent economic impact study.  Over the course of the Summer months, Texans will have spent over $1 billion just over our borders.

“Our studies indicate that Texans make up the vast majority of the gaming market in neighboring states,” said economist Jon Hockenyos, author of a comprehensive study of gaming’s potential impact in Texas. “We literally counted license plates in several locales over our borders and the numbers are staggering.”

That report concluded that if slot machines at racetracks were allowed in Texas, the state would realize $2.4 billion per year of new gaming revenue, most of which is recapturing the dollars already being spent by Texans in other states.  In combination with $1.4 billion in related direct spending (for hotels, shopping, etc.), this $3.8 billion in direct spending would produce an additional $4.7 billion in new Texas economic activity when the ripple effects to other economic sectors are considered, for $8.5 billion in total economic impact.  In the process, Texas would gain some 77,500 new full-time jobs across all sectors of the economy.

“The state has lost out on about a billion dollars of economic activity since school let out,” Andrea Young, President of Sam Houston Race Park.  “If that isn’t a missed opportunity I don’t know what is.”

The study was paid for by Win For Texas (WFT).  WFT is comprised of members of the Texas racing industry seeking to build world-class entertainment and racing facilities.  Win For Texas is seeking legislative action to allow Texas voters to approve a measure bringing slot machines to Texas’ racetracks and Native American reservations.