Licensed Racing Entity Law and Legal Definition

The term ‘licensed racing entity’ is used to refer any legal entity that has obtained a license to conduct live thoroughbred or harness horse race meetings respectively with pari-mutuel wagering. The license must have been obtained from the statutory bodies of the state in accordance with the statute of each state. In Pennsylvania, pursuant to the Race Horse Industry Reform Act, the license has to be obtained from the State Horse Racing Commission or the State Harness Racing Commission.