What We Do
The horse racing industry in Virginia was at a low point in 2014 after the closure of the Colonial Downs racetrack, but because legislators took a number of steps — most notably the passage of Historical Horse Racing machines in 2018 — it helped provide an avenue to re-open the track and fund the revitalization of an industry. The study shows that enormous strides have been achieved in just a short period of time.
According to the study, the industry generated an estimated economic impact of $542.1 million in the Commonwealth in 2019. In addition to the overall economic impact, the study revealed:
· *Annual horse-related expenditures by Virginia horsemen estimated at $239.44 million in 2019.
· *Overall total in state tax revenue for 2019 estimated at $26.5 million.
· *Estimated total economic impact of horse racing events and visitor spending in Virginia was $68.7 million in 2019.
· * Jobs supported in 2019 by the horse racing and breeding industry estimated at more than 5,000.
· * The average amount spent by horsemen in Virginia to care for, train, and board race horses estimated at $152,331, or $14,663 per horse.
Virginia’s Economy Wins with Horses
Who We Are
The Virginia Equine Alliance is a non-profit, 501 (c) 6 organization which is comprised of the Virginia Harness Horse Association, the Virginia Horsemen’s Benevolent & Protective Association, the Virginia Gold Cup Association, and the Virginia Thoroughbred Association. The purpose of the Virginia Equine Alliance is to sustain, promote, and expand the horse breeding and horse racing industries in the Commonwealth of Virginia. The Alliance seeks to establish and support new and multiple venues for horse racing in the Commonwealth and to advocate and support legislation, regulations, and rules beneficial to the breeders and owners and trainers of horses (“horsemen”) in the state. The Alliance represents the interests of horsemen at meetings of the Virginia General Assembly, the Virginia Department of Agriculture, the Virginia Racing Commission, racing associations, breeder’s organizations, horsemen’s organizations, and other like groups. The Alliance is committed to increasing public awareness of the economic and environmental importance to the Commonwealth of the horse breeding and horse racing industries.
Funding for the VEA comes directly from four Advance Deposit Wagering partners — TVG, XPressBet, TwinSpires and NYRABets. Funding also comes from Historical Horse Racing (HHR) gaming terminals that are based at seven Rosie’s Gaming Emporiums — in Richmond, Hampton, Vinton, New Kent, Collinsville, Emporia and Dumfries. Funding also comes from Off Track Betting Centers (OTB) in Henrico (Breakers Sports Grille) and Chesapeake (Buckets Bar & Grill). By state statute, a set percentage of every dollar wagered goes toward the purse account and the breeders fund of each specific breed (thoroughbred or standardbred), the VEA, Virginia Racing Commission, Virginia Horse Center, Virginia Horse Industry Board, Marion DuPont Scott Equine Medical Center and localities throughout the state. The VEA’s annual budget is subject to approval of the Virginia Racing Commission.
Community Programs
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Contact
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