There was good news for Reading this week when the city heard that it’s planned ‘Racino model’ has been having massive success on the other side of the Atlantic.

The development in South Reading will be the first of its kind in the UK incorporating both a casino and race track as well as a brand new greyhound and speedway stadium.

But in the USA the innovative model has already been drawing in the punters across the country.

While declining revenues have jeopardised the horse racing industry in some parts of the US, the new breed of racing casino has meant that the state may have brought track money indoors.

Over 35 racetrack casinos, dubbed 'racinos' have opened up in the US since 1992, with five states having new venues in the past three years.

According the American Gaming Association, last year, racinos raked in $3.6 billion of punters' money, which represented a 16 per cent increase from 2005. Some states have so far banned the introduction of racetrack slot machines as casinos in New York and Pennsylvania have already seen a drop in takings after racinos came into being.

Pennsylvania's four racinos have enjoyed over $300 million in revenue in only the first six months of state-permitted slot machine gambling and Delaware having improved its formerly struggling racing industry since slots were installed in race tracks in 1995. A report will now be published in the summer to consider whether supporting racinos in New Jersey could brighten the racing industry's future in that state.

The statistics will be warmly welcomed in the Berkshire City as it gears up for next year’s opening.
The casino could open seven days a week, from 1400 to 0400, with greyhound racing on Tuesdays, Thursdays and Saturdays, and speedway on Mondays.
Undoubtedly the Racino will provide a new experience for gambling fans in the UK and if it takes off as well as it has in the States then Reading could become the Las Vegas of the U.K.