Questions over horse race industry in Puerto Rico
The representative of the New Progressive Party (PNP), José Aponte, filed a resolution that orders the Tourism Commission of the House of Representatives of Puerto Rico to initiate an investigation into the operations of betting agencies on the island.
Aponte’s request arises from the apparent decline in horse race betting and also aims to investigate the licensing process for operating these establishments.
Aponte explained that this measure seeks to “develop a detailed overview of the operation of these agencies with the objective of evaluating possible legislation that may need to be adopted.”
José Aponte stated, “It is no secret that betting on horse races, a central component for the horse racing industry in Puerto Rico, has declined in recent years. In fact, it is estimated that the most significant decline started in 2023 and continues. A crucial part of this local racing structure are the betting agencies, which handle the largest volume of transactions associated with races at the only racetrack on the island, Camarero Racetrack.”
“It should be concerning for the industry that betting transactions on races experienced their worst year in 2024 since 2021, with only $120.3 million. In 2021, the figure was $157 million. There is no doubt that something is happening, and what we are looking to do is see what’s going on and how we can assist,” he said.
In November the Puerto Rico Gaming Commission announced that it would evaluate the possibility of increasing the number of slot machines in horse racing agencies. The Commission said that it would review the regulation that governs slot machines in horse racing establishments, based on a proposal that could potentially increase their number by 50% in these venues. However, this proposal was ultimately rejected.
