Handle and Purses Up, Race Days Down for Third Quarter of 2007

Handle and Purses Up, Race Days Down for Third Quarter of 2007

The National Thoroughbred Racing Association (NTRA) and Equibase Company have released the “Thoroughbred Racing Economic Indicators“ for pari-mutuel wagering in the United States and Canada on U.S. Thoroughbred racing during the third quarter of 2007, the organizations announced in an Oct. 10 press release.

Pari-mutuel handle increased 0.90% in year-over-year, third quarter comparisons. The increase was achieved despite a decline of 0.92% in race days over the same period. Total purses increased by a robust 6.11% during the corresponding time period, due in large part to the opening of Presque Isle Downs in Erie, Pa., during the third quarter.

“Thoroughbred racing’s key economic indicators are trending in the right direction, and we are particularly pleased, given the high relative cost of ownership, to see purses increasing as they are,” said Alex Waldrop, President and CEO of the NTRA. “As the pie gets larger, the ongoing challenge is to grow the business at a pace that produces real, sustained growth for the entire industry. An important step in this direction is to maximize handle—and racing's share of the revenue generated by that handle—through the reduction of leakage.”

In the third quarter of 2006, $3,843,260,014 was wagered on U.S. races in the United States and Canada. For this year’s third quarter, $3,877,835,556 has been wagered. Last year at this time, $337,856,672 had been distributed in U.S. purses, versus this year’s $359,259,313. At the third quarter in 2006, there had been 1,959 racing days, while at the third quarter in 2007 there have been 1,941 racing days.                                                                      

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