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Texas provision loosens track rules21 January 2008AUSTIN, Texas -- As reported by the Houston Chronicle: "Although the Texas racing industry failed last year to persuade lawmakers to expand gambling opportunities at horse and dog tracks, a little-noticed change in state law sweetened the potential returns for some track owners if they have more luck with the Legislature in 2009. "A provision quietly added to a regulatory bill during the closing days of the session last spring increased from two to three the number of tracks in which a person or group can have a significant ownership interest. "The change wasn't requested by state regulators and received little, if any, public debate. And, key legislators who approved the amendment said they didn't remember much about it — or where it came from. "Potential beneficiaries, however, include two major competitors for racing dollars along the Texas-Mexico border. "One is Maxxam Inc., which owns Sam Houston Race Park in Houston and a dog track in Harlingen and has a new license for an undeveloped horse track in Laredo. The other is the prominent LaMantia family of McAllen, beer distributors poised to leap into the racing business. "...In March, two months before the Legislature changed the track ownership limit, the Texas Racing Commission acted on competing applications from Maxxam and the LaMantias for new tracks in South Texas..." |