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Horse racing may help the tourism sector.

The Philippine Racing Commission (Philracom) informed the Senate on Tuesday of its plans to expand the horse racing tourist sector.

The initiative was praised by Senator JV Ejercito, who presided over the Finance Subcommittee N budget hearing. He also pledged to recover the PHP50 million allocation that the Department of Budget and Management had reduced to Philracom CEO Aurelio de Leon (DBM).

De Leon claimed that although they requested PHP243 million for 2023, the DBM only authorized PHP193 million.

He noted that the government might earn PHP912 million a year from the commission’s total sales of PHP3.2 billion.

To “promote and direct the accelerated development and continued growth of horse racing not only in pursuance of the sports development program but also to ensure the full exploitation of the sport as a source of revenue and employment,” Philracom was established in 1974 under the administration of President Ferdinand Marcos Sr.

It has grown to be a significant contributor to the national budget and a significant source of money for charitable organizations.

When given a chance, horse racing has the potential to be a form of sports tourism equivalent to the Kentucky Derby, according to de Leon.

In the United States, the Kentucky Derby is held annually in Louisville, Kentucky.

It draws the largest crowds in North America, frequently outpacing those at well-known US horse races, including the Preakness Stakes, Belmont Stakes, and Breeders’ Cup.

According to Senate Minority Leader Aquilino Pimentel III, the commission’s capacity to generate revenue will benefit the government in providing essential services.

“The payout is fair and offers highly exciting rewards. I have no issues with this budget. Please give me some time to comprehend the procedure since this is a revenue-generating organization. Very fascinating and potential industry” remarked Pimentel.

According to De Leon, Philracom manages breeding farms with a current population of 1,800 racing horses dispersed around the nation.

The San Lazaro Leisure Park in Carmona, Cavite, and the Metro Manila Turf Club in Malvar, Batangas, will be the only significant horse race tracks in the nation, leaving the Santa Ana Park in Naic, Cavite, which has been in operation for 85 years, to close on October 22.

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