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The owners of these organizations are often not clearly identified and often have very little U.S. regulatory oversight. Other noticeable characteristics are significant levels of business that produce substantial money settlements from the host tracks, and no verifiable tax withholding practices (7-8). The organizations do not need to fulfill every characteristic to be considered a SPMO.
The racetrack is the foundation to the whole industry. In recent times, the need for increased revenue streams has created many different sources. It started with Off-track wagering and simulcasting, and then went to racinos, and then to advance deposit wagering...
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