Arizona Department of Gaming officials, who recently warned that budget cuts might shut down Arizona's pari-mutuel horse racing by early next year, now say the sport of kings is not threatened after all.
In a written statement, Greg Stiles, department enforcement officer, said a nearly 50-percent funding reduction will not shut down horse racing.
Citing earlier employee layoffs, other cost savings and a $1.6 million cash reserve, he said the regulatory agency is expected to end the fiscal year with a surplus.