A pioneer of the Texas racing industry during the first half of the twentieth century, Col. Waggoner was a rancher, horseman and entrepreneur who chose a spot  between Dallas and Fort Worth to build Arlington Downs racetrack. After using his influence to help pass pari-mutuel legislation in 1933, Waggoner developed Arlington Downs into one of the premier racetracks in the country.

Attendance at Arlington Downs frequently hovered around 25,000 on Saturdays as the track's purses sometimes exceeded even the purses in New York.

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