Will the Lone Star state be the next in line to expand its gambling opportunities? If it were up to the gambling group, Penn National Gaming, we would definitely be seeing changes in Texas’ legislation, and many analysts agree that this may not be such a bad idea for the cash-strapped state.
Penn National Gaming recently secured a deal that will see it own and operate two potential gambling hotspots in Texas – the Valley Race Park in Harlingen and the Sam House Race Park in Houston. If gambling laws were changed to allow greater flexibility with regards to slot machines at race tracks, the company is set to make millions. As such, it is not going too far to suggest that Penn National will begin pushing for significant changes in the near future.
One analyst summed it up as such: “Penn National is in the business of casino gambling. They would not have entered the Texas racing industry without the assumption that casino gambling could become a major part of their operation in the future. It makes sense with the way the economic situation in Texas has played out.”
And that is where other analysts agree. Texas is currently facing severe budget restraints and is desperately looking for ways to fill its state coffers. Legislators are seeking ways to make this a reality, and one of the simplest ways to do so would be to expand the gambling opportunities in the state.
Already, a number of US states have taken this route, and are already reaping the benefits.
Pro-gamblers in Texas have a battle ahead of them in a bid to convince legislators to vote for an expansion. However, once they succeed, companies such as Penn National Gaming will be well positioned to take advantage of these new laws.
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