CHAIRPERSON JAMES: Our first panel this morning will be on the current industry structure and will provide us with -- I think we just lost some sound here. We're back. Will provide us insight on the operations and changing context and conditions of the pari-mutuel industry. The speakers have eight minutes each to summarize their written testimony, and I would encourage them to do that, which will -- the written testimony, the entire portion of it will be a part of our official record. After which the Commissioners will have an opportunity to ask questions. Speakers, I would encourage you to please keep your eyes on the lights, and we have a timer that's sitting right over here, and she will give you cues as to where we are in the process.

Our speakers include, and as you hear your name I would ask that you come forward, The Honorable Kenneth Maddy, member of the California State Senate; Mr. Tony Chamblin, President of the Association of Racing Commissioners International; Mr. Joseph Harper, President and General Manager of the Del Mar Thoroughbred Club; Mr. Robert Manfuso, owner of Chanceland Farm; and Mr. Timothy Smith, board member of the National Thoroughbred Racing Association.

I remind our distinguished panelist that in appearing before this Federal Commission, you are presumed to be under oath, and I'd like to start this morning with Mr. Harper and thank him yet again for all of the assistance and pulling together this meeting and we are looking forward to our visit this afternoon.

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