The Florida bloodstock industry is currently facing significant challenges during the 2025 breeding and auction season, primarily due to legislative changes and economic pressures. A major concern is the state’s decoupling legislation, which allows gambling establishments to operate without being required to offer live horse racing. This shift threatens the traditional revenue streams that have historically supported the Thoroughbred industry in Florida.
In response to these challenges, the Florida Legislature passed HB 7073 in March 2024, extending critical funding for the industry. This bill allocates $15 million annually for purses and facility improvements at Gulfstream Park, $5 million for Tampa Bay Downs, and $5 million for the Florida Thoroughbred Breeders’ and Owners’ Association (FTBOA) breeding and racing incentives. Additionally, $2.5 million is designated for further Florida-bred racing incentives. These measures aim to provide long-term stability and enhance the state’s Thoroughbred sector.
Furthermore, the FTBOA announced a substantial increase in awards for breeders and stallion owners for 2024, enabled by the enactment of HB 7063. Breeder awards were increased by one-third, from 15% in 2023 to up to 20% of the announced gross purse in 2024. Stallion awards also saw significant increases, with caps rising from $15,000 to $20,000 for wins in black-type races in Florida. These incentives are designed to bolster the breeding and racing sectors amidst the current uncertainties.
Despite these efforts, the industry continues to navigate uncertain waters, striving to maintain its prominence in the face of evolving legislative and economic landscapes.
Click the link below to read the full article by Joe Nevills from www.paulickreport.com
https://paulickreport.com/news/bloodstock/its-been-a-struggle-florida-bloodstock-industry-navigates-uncertain-waters-during-2025-breeding-auction-season
