Official: New Mexico horse racing still in the 'dark ages'
New Mexico law prevents residents from betting on races held at the state's five tracks. They can place bets on the races in neighboring states or any other state. Track owners and horse breeders say this has led to a decline in revenue for the industry. The industry had an economic impact of about $677 million in 2016. The number of races and the number and horses being bred in New Mexico has also declined. However, horse sales have been setting records for past two years. In Kentucky, yearlings sold for over $1 million each. in the past year. University of New Mexican economics professor David Dixon presented figures.
