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US Domestic Issues "Thwart Global Opportunities"
Also in Kentucky, Breeders' Cup president Greg Avioli told the International Equine Summit that the US industry "is making efforts to expand into the global marketplace, but must get past its domestic-centric mindset" reported bloodhorse.com. Avioli noted: "We already are one of the most globalised businesses in the world. You hear a lot of gloom & doom (in the US), but if you look at racing on a global scale, it's a very healthy business. In the US, we've focused so much on the domestic business but haven't had the mindset to think internationally. We haven't done a very good job reaching out to the rest of the world, with the exception of some breeding farms." Avioli cited an estimate that "about US$100 billion is wagered through pari-mutuel systems each year around the world. Countries in the Pacific Rim account for about 50% of the total; the US accounts for about 15%."