Keep Texas Running is helping introduce legislation that will allow video lottery terminals (VLTs) at existing licensed racetracks in the state. The legislation does not seek any table games or other “Las Vegas” type gaming. For 99% of Texans, they will notice no change to the Texas landscape. There will be no freestanding casinos. There will be no VLTs at convenience stores or truck stops. There will only be VLTs at racetracks.
What this means for Texas is that racetrack patrons will be able to use VLTs if they choose, in addition to making wagers on horses and greyhounds which is already allowed. It is not surprising to learn that VLTs will help keep between $1-1.5 billion dollars a year in Texas. The money is not being pulled out of thin air – it is money that is already spent by Texans in New Mexico, Louisiana, Oklahoma, and Arkansas.
The VLTs help the Texas economy in many different ways. The majority of revenue from VLTs will belong to the state of Texas. A smaller percentage of the revenue stays at the racetrack and is used to boost purses. These higher purses will help us reverse the mass exodus of horses and horsemen that have left Texas to greener pastures in neighboring states. As the horsemen come back it will also benefit other areas of the economy, such as agricultural products and services, equine related services such as veterinarians, maintenance and repair construction, food products, printing and publishing, transportation, real estate, communication, retail trade, hotels and lodging, amusement parks, restaurants and entertainment venues, and many other business services. Installing VLTs at racetracks will have a tremendous positive economic impact on a wide range of industries in Texas.
The VLT legislation is being presented as a constitutional amendment. What this means is that the proposal will need favorable votes from 2/3 of the Texas House and 2/3 of the Texas Senate. After passing through both chambers, it will be presented to the citizens of Texas for a state-wide vote. Polls show that over 70% of Texans support the addition of VLTs to racetracks for a wide variety of reasons. Horsemen support the legislation because it will allow them to keep horses in Texas instead of other states. Others enjoy the thought of raising over $1 billion of annual revenue without raising taxes. Still others feel that their legislator should vote in favor of the measure and ultimately let the citizens of Texas have the final say. Whatever reason they may have, the people of Texas support the addition of VLTs to racetracks. In fact, the main opposition to this measure isn’t even coming from Texas citizens! It is coming from large gaming companies in surrounding states like Louisiana, Oklahoma, and New Mexico!
