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The shrinkage could also be a part of CDI’s master plan, but it is a plan propelled by market forces. We all know that horse racing is not precisely a growth industry. As CDI factors out in its annual report, US parimutuel deal with, though regular the previous couple of years, had declined 27% from 2007 to 2011. The number of Thoroughbred foals born annually has dropped in half, and, belatedly, the number of races run each year is declining.

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