I'm becoming a bit bored with this, but just got back from walking the dog and would like to point out two things. First, the Industry was told, when Slot races were introduced, that the main advantage was that they would "cost the Industry nothing". Who, or what changed that? (and to be fair to Mr. Steele, it was before his time).
Second, in his speech at a "future is Now" presentation just after he started, Mr. Steele suggested that slots could be bought by groups of say, 30 young people, who could put in $10k each. At the time, I remember laughing out loud at the naivety of that idea. Sadly I have been proven right.
Oh, and just a last thought regarding having good horses. Using Mr. Boots as an example, how many horses has he bought that have been developed by excellent NZ trainers and gone on to be his stars? The problem is that your average owner has little alternative than to sell to rich owners like him.