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Fund grows as Mass. horse racing industry languishes
http://www.metrowestdailynews.com/article/20150803/NEWS/150809260/0/breaking_ajaxFund grows as Mass. horse racing industry languishes
By Philip Marcelo/The Associated Press
Posted Aug. 3, 2015 at 4:20 PM
Updated Aug 3, 2015 at 4:21 PM
PLAINVILLE — Massachusetts' horse racing industry is flush with casino cash. The only problem? There isn't much of a local industry to speak of.
The state's obscure Race Horse Development Fund has generated roughly $10.3 million in revenue and is on track to receive almost $18 million more this fiscal year, according to the figures provided to The Associated Press by the state Gaming Commission.
The money is made possible by a quirk in the state's casino law that designates a percentage of casino profits and licensing fees to help the flagging horse racing industry.
But Suffolk Downs, a Boston thoroughbred track that stands to benefit the most from the fund, hasn't run races since last fall. Plans to revive races this summer have been delayed for months. State gambling regulators are again reviewing proposals Thursday.
