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Racinos Flourishing, Study Finds

LOUISIANA -- As reported by the Courier-Journal: "In the decade since horse racing tracks added casino games, so-called racinos grew faster than commercial and American Indian casinos, a study has found.

''The annual casino industry report, published by the Analysis Group in California, attributed the growth of racinos to their relative infancy and lack of competition in three of the six states that licensed casino gambling at racetracks last year.

''While much more money was wagered at Indian and Las Vegas-style casinos, racino revenues rose nearly 52 percent from 1994 through 2003, outpacing other forms of casino gambling.

"…Overall, $2.3billion was gambled at racinos last year, up 8 percent from 2002. Revenues at commercial casinos exceeded $26billion last year, growing by just over 1 percent.

"…Rhode Island pioneered the first racino in 1993, followed by West Virginia in 1994. Iowa, Delaware, New Mexico and Louisiana also had legalized racino gambling last year.

"…With racino revenues up more than 47 percent to nearly $169million last year, Louisiana posted the highest one-year gain among the states with racinos last year…"

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