The economic impact of bringing slot machines to Texas racetracks will not only be felt in the three major metropolitan areas around the state, but in the Hill Country, the Valley, the Gulf Coast, the western tip of the state out in El Paso and all the way up to the Pan-Handle.
Bringing slot machines to Texas racetracks will generate an additional $1 billion each year in tax revenue to the State.
- The fact is, Texans are gambling. Texans spend more than $2.5 billion every year at racetracks in Louisiana, Oklahoma and New Mexico. According to field research conducted in the Summer of 2010, Texans make up as much as 90% of the patrons at certain border casinos in Oklahoma.
- Bringing slot machines to Texas will create approximately $1 billion in additional tax revenue every year for our state.
- The racing industry currently represents $5.5 billion annually to the Texas economy and 36,000 permanent jobs. The loss of this industry would affect thousands of Texas families and businesses. If racetracks and the Native American tribes are permitted to add slot machines, it would bring more than 75,000 new jobs and $8.5 billion in economic activity.
- The Tourism, Agriculture, Chemical, Manufacturing, Transportation, Construction and Service industries will benefit from hundreds of millions of dollars in additional revenue and tens of thousands of new jobs.