AmericaTab Donates $100,000 to U. of Arizona's Race Track Program
Updated: Tuesday, August 30, 2005 9:47 AM
Edited from press release--
Posted: Tuesday, August 30, 2005 9:47 AM
AmericaTab Inc. has contributed $100,000 to the University of Arizona's Race Track Industry Program (RTIP) to help endow a proposed faculty position to conduct industry business research and to head the group's masters degree program according to RTIP director, Doug Reed.
"AmericaTab's decision to fund the RTIP chair at this level is gratifying and we look forward to their participation on the advisory committee for the research," Reed said. "Racing lacks a source of 'real world' research on issues facing the industry today. The formation of the research position and the advisory committee will help fill that void and help us make sure the research is relevant to the racing industry's needs.
"AmericaTab's contribution will help further our mission of education and service to the industry. The impact will be felt in the classroom as well with the addition of a highly qualified educator to our faculty for the express purpose of enhancing graduate level study and research," said Reed
"Our aim is to give students enrolled in our masters program a deeper understanding of the racing business so they will be better prepared to pursue careers in horse racing."
The professor named to the RTIP Chair will focus on producing relevant research and/or statistical modeling in the areas of: racing industry economics; finance; or marketing. The research will be made available to the industry at no cost.
"We're glad to be a part of the RTIP's effort for this critical endeavor," said AmericaTab's executive vice president Michael Weiss. "Our industry is facing significant challenges and competition under unprecedented economic, regulatory and business development pressure.
"We can all benefit from the kind of independent and in depth study of our issues and opportunities envisioned for the RTIP Chair.
"As an alumni of the RTIP I am particularly excited about the effort and know what a value it would have been to me if it existed when I was a student," Weiss said. "Today's managers need access to the kind of industry-wide research that can be uniquely conducted in an academic setting. In addition, future leaders will need more highly developed business skills if they are to satisfy the demands of our industry. The RTIP Chair satisfies both objectives.
"I hope other companies in the racing business will join us in supporting the RTIP initiative. It has the potential to produce an extraordinary level of ROI for track owners and operators, horsemen and suppliers," said Weiss.
The chair, which requires an endowment of $1.5 million to become a reality, will be based in the Department of Animal Sciences and may also have access to research collaboration from other University of Arizona's departments. The University has pledged to provide matching funds in the form of a salary line to support the annual cost of the professorship.
Founded in 2001 by Beulah Park and River Downs, AmericaTab is an account wagering provider licensed to operate by the Oregon Racing Commission and is an accumulation of affiliated racetracks and other racing industry related companies.
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