Golden Gate to Reduce Purses by 3.8%

(from Golden Gate Fields release)
Golden Gate Fields will reduce overnight purses by 3.8% beginning Feb. 11 due to total handle falling short of expectations, track officials announced Friday.

In addition, the purses of the following overnight stakes have been reduced from $60,000-added to $55,000-added: the Richmond Handicap, San Carlos Handicap, Danville Handicap, and Soviet Problem Handicap. The purse of the Golden Gate Breeders' Cup Handicap (gr. IIIT) has been reduced from $150,000 to $125,000.

The total purse for the $100,000 Berkeley Handicap (gr. III) will not change. However $25,000 of the purse will come from the Breeders' Cup Fund and the race will be called the Berkeley Breeders' Cup Handicap.

Through the first 64 days of racing at the 2003-2004 meeting, total handle has declined 10%. The losses have mostly come off from out-of-state handle, which is down 16%.

Magna Entertainment Corporation, which owns Golden Gate Fields, recently took similar action reducing purses at Santa Anita Park. It has also reported significant declines in business at Gulfstream Park.

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