The National Thoroughbred Racing Association presented findings of a study conducted by the National Economic Research Associates (NERA) for the NTRA Task Force on Economic Regulation today at the 27th annual University of Arizona Race Track Industry Program Symposium on Racing in Tucson, Ariz.The task force, formed this year, was convened under Chairman Robert McNair to study key issues relating to the economic regulation of the Thoroughbred racing and pari-mutuel industries. Presenting the findings were Louis A. Guth, senior vice president, NERA, in association with racing consultant Michael D. Shagan. The report concludes that excessive regulation impairs horseracing's ability to compete in the gaming and entertainment marketplace. It specifically recommends that:
- Legislative and regulatory obstacles that prevent the Thoroughbred industry from freely marketing its product be removed
- The horseracing industry be allowed the flexibility to design and price its products
- Tax policies be modified to treat horseracing as a "typical business," specifically, pari-mutuel taxes should be based on takeout rates as opposed to gross handle
- Programs for safety and integrity regulation be well established and adequately funded.