Racing tracks complaining about money, Bloviation by Lester

[Igeteven]

Racing tracks complaining about not enough revenue, we have all seen this, we all read about this, we make threads on threads about this, now are the tracks telling the truth ?, they always say, we are on the verge of going out of business, but always have a marvelous recovery within a month. (Sounds like the airlines always going broke or a government agency finding money that has not been declared)

When I read this, I can hardly believe it for several reasons, how do you go broke taking money off the top?

As I always said, handle is the name of the game. A lot of tracks get extra money for the purses from other sources of revenue. (slots for example) or money in the fund for purses or operating expenses, I believe Del Mar pays for Pomona, through the fair association, correct me if I am wrong.


Now do you be believe all you hear from these race tracks?

Any Comments

[Southieboy]

Why would Del Mar have anything to do with Fairplex?

[Igeteven]

:|

Why would Del Mar have anything to do with Fairplex?

Mary can answer that better then I can , however, I believe they pay certain amount of the purses. The are part of the State Agricultural Commission , they may also supplement more race tracks here in California.


I do need help on this one.

[MaryS]

Is there some reason you're shouting?

[Igeteven]

Is there some reason you're shouting?

with this new 24 inch monitor and computer, the fonts seem small, I fix it next time I post.


just fixed it.

[DegenerationX]

Lester I don't believe that these tracks are losing money what so ever. I compare the thriving race track business like the NHL. I can't understand in the NHL how franchises are losing money. The sport is picking up popularity every day and has huge fan bases and a fat TV contract on NBC Sports. No one is losing money in the NHL or Horse Racing. As Joel has always said if one tells the truth no one believes you, when you lie everyone believes you.

[Syncopate]

Extra revenue is coming from somewhere..............

I'm looking at the Equibase charts from HP Sunday, but this has been going on at all tracks for who knows how long, I noticed it some time ago.

The 1st race had a purse of $30,000 plus $700 from "other sources ".

And the 9th had the largest amount- $2,790 from that other source.

What is this other source? It's not the Cal-bred fund $$$.

[Handsomepolack]

close the doors? simple solution, happens everyday to small family run businesses, file chapter 11, walk away.

[Handsomepolack]

NYRA did something, short-term fix, the well will go dry, just as it did at Fort Erie and Woodbine, then the marriage between Slots/ horse racing will get toxic , divorce Attorneys waiting in the wings.

[Vince P]

Problem: Racetrack income.

Solution: Raise the Take-out to 27% across the board and increase admission from $10 to $17.00

Problem solved.

Field sizes will increase, fans will wager more, etc, etc. It's a win-win situation.

At least that's what California thinks.

Vince P