Equus Gaming Company, a publicly traded partnership with horse racing and gaming interests in the Puerto Rico (El Comandante Race Track) and the Dominican Republic (V Centenario Race Track), announced operating revenues of V Centenario in the Dominican Republic improved by US$452,000 (9%) from US$5,036,000 in 1996 to US$5,488,000 in 1997, while operating costs in 1997 remained at the same level as in 1996. The increase in revenues was partly attributed to net fees earned under a contract for the distribution system of an electronic lottery that commenced in November 1997. Also, the company reports that the Dominican government agreed to invest from July 1997 to January 1998 a portion of its tax receipts to improve racing in the Dominican Republic and is currently evaluating the extension of this economic assistance beyond January 1998. Nevertheless, V Centenario had net losses of US$1,100,000 in 1997 and US$1,494,000 in 1996. Thomas B. Wilson, president of Equus, indicated that the racing program of V Centenario has been expanded via television throughout the Dominican Republic and that the agency network has been expanded from 220 in 1996 to 302 in 1997, with a planned increase to 450 agencies by the end of 1999. Also, it is planned that a telephone betting system in the Dominican Republic will be installed during 1998 to capture the upper income market.
