Horse Tracks Bet they Can Beat Casinos

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STORY: Horse Tracks Bet they Can Beat Casinos

EXPERT: Tom Swoik on Horses vs. Casinos

LINK: Illinois Racing Board Report

Everybody loves a longshot, but even by horse racing standards, the odds of this historic industry surviving in Illinois couldn't be much worse.

"If you don't think I think about it everyday what would happen if we lose horse racing and I have to walk in here and tell people they no longer have a job," says Chris Block, a trainer at Arlington for the last 21 years.

How bad is it?

Insiders tell FOX Chicago News this could be the last viable summer for the five remaining race tracks in the state, and if horse racing goes under as many as 40,000 jobs could be lost could be lost with it.

We're talking everybody from jockeys to janitors, blacksmiths to breeders, jobs many of us didn't even know exist.

"I believe it could all go away if we don't get help from legislation," Mike Smith, President of the Illinois Thoroughbred Horse Racing Association, tells us.

The legislation he and many of his colleagues want is to turn the race tracks into race track casinos better known as racinos. According to a bill sponsored by State Representative Will Burns, these racinos would offer games like slots and video poker. A vote in Springfield could come as early as this fall.

For the race tracks, it's as simple as if you can't beat 'em, join 'em.

They claim the demise of their business can be directly attributed to the proliferation of casinos in Indiana and Illinois. Consider last year, the combined total purse or prize money in the state was almost $73 million -- a lot of money until you realize that's almost $20 million less than it was twenty years ago.

Opposing the racino idea are casino, anti-gambling advocates, and a handful of lawmakers such as State Senator Mike Noland.

Noland has as good a reason as any to oppose slots at the tracks - the Grand Victoria casino in Elgin is in his district. Up for election this November, Noland says the casino not only brings jobs to the area but millions of dollars in local construction.

"This is money they've invested in local infrastructure. You see a number of projects underway in elgin - sidewalks, roads, preparing some of our bridges, what not."

If the vote fails, Duke Johnston, President of Maywood park in Melrose Park, tells us his facility could be the first to close. Thirty years ago, Maywood was attracting 15,000 on a Saturday night.. Today, it's only drawing a couple grand.

"Right now, were just in survive mode," Johnston told us. "Business is down 30 percent from last year which is down 30 percent from the year before."

If, on the other hand, the bill passes, the tracks claim they can stop laying workers off and start hiring for 1,200 to 1,500 new positions. Not to mention, they estimate $100 to $300 million in annual tax revenue for the state. As Johnston says, "this isnt just good for horse racing, this is good for the state in general."