New Mexico’s racing industry is a long way removed from its heyday, yet it remains one of the state’s largest moneymakers.

Last year, the state’s five racinos — horse racing tracks that also house casino gambling – generated $810.5 million in economic impact and supported more than 4,000 jobs, according to the American Gaming Association. By comparison, the New Mexico film industry generated more than $1 billion in economic impact in fiscal year 2023.

Since being prohibited from airing the Kentucky Derby, which set a national record for wagering this year, New Mexico’s horse racing revenue has been in question.

In a February letter to the New Mexico Racing Commission, the Albuquerque Downs racetrack said patrons bet more than $824,000 on the Kentucky Derby in 2023.

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