Michigan's horse racing industry generated more than $8.1 million in tax revenue for its equine development fund in 2021, money allocated to promote and regulate the sport, but there isn't much to do with that windfall.Only one pari-mutuel racetrack remains in the Great Lakes State: Standardbred venue Northville Downs, which runs a fairly limited meet. Michigan hasn't had a Thoroughbred track since Detroit-area Hazel Park was abruptly closed and sold shortly before ship-in day for the 2018 season.