Voters in Maryland approved legalization for expanded gaming on Tuesday, giving the state the right to issue up to five video lottery licenses for the installation and operation of up to 15,000 video lottery terminals .

Expanded gaming is expected to pump millions of dollars into the state’s ailing Thoroughbred and harness racing industry as well as Maryland’s public schools.

The Maryland Jockey Club, which is a subsidiary of Magna Entertainment Corp., expects to bid on a license for game machines for Laurel Park as soon as possible.

"Today is a very important day for horse racing in Maryland," Maryland Jockey Club President Tom Chuckas said. "The voters of Maryland have approved a measure that we at the Maryland Jockey Club are confident will help save an industry that we love and that employs thousands of Maryland residents.

"We expect that introducing VLTs in our state will put Maryland racing back on a more even playing field with its neighboring states.Moreover, the funds generated from VLTs in Maryland should result in significant increased revenues for education, which will havea very beneficial impact across the state."

On August 19, Magna closed Pimlico Race Course for training and stabling due to a lack of revenue.

Horse racing in neighboring Delaware, West Virginia, and Pennsylvania is bolstered by slot-machine revenue.