With wagering proceeds down, bill filed to investigate horse racing agencies

By The Star Staff

Rep. José Aponte Hernández announced the filing of House Resolution 209, which orders the Tourism Committee in the lower chamber to look into the operation of horse racing agencies on the island, including the licensing process for operating them, among other matters.

“It’s no secret that betting on horse racing, a central pillar of the horse racing industry in Puerto Rico, has declined in recent years. In fact, the steepest decline is estimated to have begun in 2023 and is continuing,” Aponte said in a written statement. “An essential part of this structure of local horse racing are the horse racing agencies, which handle the largest volume of transactions associated with racing at the only racetrack on the island, Camarero Racetrack. What we seek with this resolution is to develop a detailed overview of the operations of these agencies with the goal of evaluating any potential legislation that may need to be adopted.”

“The industry should be concerned that race betting transactions had their worst year since 2021 in 2024, with just $120.3 million. In 2021, the figure was $157 million,” added the chairman of the House Committee on Federal and Veterans Affairs. “There’s no doubt something is happening, and what we’re looking for is to see what’s happening and how we can help.”

According to data from the Puerto Rico government’s Gaming Commission, there are currently 367 horse racing agencies operating.

Pursuant to Act No. 83 of July 2, 1987, better known as the Puerto Rico Equestrian Industry and Sports Act, the Gaming Commission is authorized to issue, suspend, or permanently cancel horse racing agency licenses.