Finance committee  There is no question that industry is working on developing slots at racetracks across the country. Half the profits go to the track itself to maintain it and improve the infrastructure. The other half is allocated to the purse structure. Unfortunately, in both standardbred and thoroughbred racing, some amount of the purse money is actually going to horses bred in the United States and owned by Americans.

Finance committee  It's partly because land costs got very expensive in certain cities. Secondly, the quantity of horses available to race is declining. You need a certain number of horses in order to maintain a racetrack.

Finance committee  What we're expecting it to do, first of all, is maintain and grow the industry. It will maintain the employment we have. More importantly, it will increase the quality of the horses being bred. This is a risky business. We see the quality improving dramatically in the United States.

Finance committee  No. Slot revenue certainly has helped the purse structure for horse owners. It hasn't pushed itself down to the breeding organizations, and it hasn't provided, still, enough revenue to cover the costs incurred by the owners.

Finance committee  Absolutely, absolutely. It saved the industry, because we were in really desperate shape five, six, seven years ago. So it has managed to allow the industry to survive to this point.

Finance committee  Thank you, Mr. Chairman and members of the committee. I am Michael Van Every. I'm delighted to be here today speaking for the almost 40,000 part-time horse owners and breeders and the close to 100,000 trainers, drivers, jockeys, exercise riders, grooms, hot walkers, blacksmiths, feed and equipment suppliers, racetrack workers, and others who earn their livelihood from this industry.