Damon Thayer

In the second installment of the TDN Business Hour, the conversation focused in on one of the most vital components of the racing economy in America today: the reliance on casino-funded purse subsidies. Host Najja Thompson, Executive Director of the New York Thoroughbred Breeders, explores these questions with Louis Cella, Damon Thayer and Bill Nader.

In the second installment of the TDN Business Hour, the conversation focused on one of the most vital components of the racing economy in America today: reliance on casino-funded purse subsidies. While states like Kentucky and Arkansas have seen a revitalization fueled by gaming revenue, other jurisdictions face an uphill battle. From the ongoing quest for subsidies in California to the defensive front against decoupling in Florida, the industry is at a crossroads. What are the long-term benefits of these subsidies? At what point does the sport become too reliant...

Last week, Republican Representatives Matthew Koch and Michael Meredith introduced into the Kentucky state legislature a sweeping gambling bill with several key components, including legalized fixed-odds wagering in Kentucky along with efforts to essentially expand and modernize its gambling infrastructure. Unlike the fluctuating odds that make up pari-mutuel betting, fixed odds is a form of betting in which the payout odds are set and agreed upon at the time the wager is placed. Crucially, they do not change. Among other aspects of the bill, it requires tracks and tote companies...

Fixed-odds wagering has already made it to states like New Jersey and Colorado. It could also be a fixture in Kentucky thanks to a bill just introduced into the state legislature by Republican Representatives Matthew Koch and Michael Meredith. HB 904 is a sweeping piece of legislation with several key components designed to essentially expand and modernize the gambling infrastructure in the state. The contextual background of this bill appears to be an attempt to seriously grapple with the impacts from Computer Assisted Wagering (CAW) on the betting pools. Unlike...

The Thoroughbred Racing Initiative, in conjunction with the Florida Horsemen's Benevolent and Protective Association, has released results of a feasibility study seeking to identify lasting solutions for Florida racing. "No successful project's planning begins without a feasibility study," said TRI Vice President Jon Green, the study's point person. "We appreciate that people want to hear, 'This is what we're going to do to.' But we can't get there without starting here with clear-eyed research by independent experts identifying locations for discussion and various economic models with cost analysis and pros...

Damon Thayer and Liza Hendriks have been named to the board of directors of Amplify Horse Racing, the organization announced Monday. "Since leaving the Kentucky Senate last year, I have been looking for a way to give back to the racing industry that I am passionate about," Thayer said. "Amplify Horse Racing's mission is much-needed and worthy of support, and I am honored to have been asked to join the board and look forward to working with the team to connect young people to careers in the industry." Hendriks founded...

Damon Thayer has retired from his job as the Senate Majority Floor Leader in the state of Kentucky, where he was one of horse racing's staunchest and most important allies. Thayer may no longer be walking the halls of the Capitol in Frankfort, but he is still working hard to help the sport he loves. He is now a senior advisor with Thoroughbred Racing Initiative (TRI), a group devoted to stopping decoupling efforts at Gulfstream Park and to see to it that racing in South Florida remains a vital part...

On this week's TDN Writers' Room, former Kentucky Senator Damon Thayer discusses where the decoupling fight stands in Florida.

With what feels like the culmination from years of mounting pressure, the volcano of opprobrium over Computer Assisted Wagering (CAW) erupted this summer, spilling all over the industry. The debate around CAW players typically surrounds the edge they wield over regular gamblers thanks to their use of sophisticated technologies that allow them to precisely read the markets and to place massive wagers across many pools in the final seconds of betting-sometimes leading to extreme late odds changes-as well as the attractive rates and rebates offered to them which are unavailable...

One bill designed to restore the gambling losses tax deduction to 100% is languishing in committee and has, for all intents and purposes, politically flat-lined. The giant tax and spending bill signed into law by President Donald Trump in July caps gambling loss deductions to 90% of winnings (from 100%)--a provision set to go into effect next year. Industry leaders have warned this rate change could hit horse racing hard through reduced revenues from gambling dollars. Those jurisdictions with no supplemental purse revenues, like California, are especially vulnerable to the...

Officials at the Iowa Horsemen's Benevolent and Protective Association (Iowa HBPA) have announced that they have retained the services of industry veterans Damon Thayer and Corey Johnsen for a consultancy focused on 'securing a vibrant future for horse racing and breeding' in the state of Iowa. Both Thayer and Johnsen will assist the Iowa HBPA in crafting a plan to sustain and grow the state's equine industry. The two are expected to engage in strategic meeting with key stakeholders such as Prairie Meadows, the Iowa Racing and Gaming Commission and...

Legislative efforts in Florida to decouple the live racing requirement for Gulfstream Park and Tampa Bay Downs to operate their respective casino and card rooms-efforts that industry stakeholders largely see as a death knell to the future of horse racing in South Florida--took a few twists and turns in the state legislature Tuesday. A standalone bill that had already passed out of one legislative committee was temporarily postponed in the state Senate. But similar language was inserted as an amendment into a separate and much larger gambling bill (HB 1467)...