The Israeli cabinet Monday approved horse racing in the north and south of the country, including betting at the race tracks.
The government will now have to introduce legislation to change the law that prohibits gambling in sport, Haaretz reported. The first race track will be in the north, and later another one will be built in the south.
The ministers hoped entrepreneurs would be encouraged to invest in raising horses, setting up veterinary facilities, riding schools and services, and that this would provide jobs and boost the economy.
The proposal was tabled Agriculture Minister Yisrael Katz, who said it was a great boost for the rural economy. The ministry will supervise all aspects of horse racing.
The treasury, which has supported the proposal, said the first tender for the race track would be issued within six months and it was hoped that thousands of jobs would be created in the north.
Horse racing is a multimillion dollar business in many states and jockeys earn hige wages.
The race track planned for the north would have 5,000 seats and a suitable site is already being sought.
It is expected to built by a group of Israeli entrepreneurs at a cost of $20 million. An international administrative company is expected to handle the professional side. (menareport.com)
© 2004 Mena Report (www.menareport.com)
