Handle on races in the United States sharply dropped 9.85% in the third quarter of this year, clearly in keeping with a trend that began in early 2008.
Turfway Park closed its 2008 fall meet with declines in all-sources and on-track handle, the Florence, Ky., track reported Oct. 3.
Presque Isle Downs reported a total handle of $31,425,213 for its 101-day meet that ended Sept. 28, a stand that was 76 days longer than the track's inaugural meet last year.
Early handicapping on signal distribution of the Breeders' Cup World Championships shows the prestigious event will be available to a wide variety of outlets and bettors, at first glance calming fears of any "signal wars" fallout evident in other revenue-sharing disputes involving advance deposit wagering.
Evangeline Downs Racetrack and Casino's recently concluded 2008 spring/summer Thoroughbred season posted all-time highs in average nightly handle, single-night handle, average field size, and purse distribution for the 84-night meet.
Ellis Park ended its annual racing meet Sept. 1 with a 3% drop in daily handle, despite broader signal distribution to advance deposit wagering outlets.
Del Mar closed its 69th race meeting Sept. 3 with declines in handle and attendance, but track officials were left with a positive attitude in light of tough economic conditions.
Calder Race Course has asked the Florida Division of Pari-Mutuel Wagering for permission to hold live racing four days a week, rather than five, during 11 weeks beginning Sept. 1.
Severe thunderstorms, heavy rain, and nearly continuous inclement conditions played havoc on attendance and handle figures during the third week of the 2008 Saratoga Race Course meet, according to the New York Racing Association, Inc.
Handle and attendance are down through the first week of the 2008 Saratoga meeting, the New York Racing Association reported July 28.
All-sources handle declined 2.2% during the recently-concluded Belmont Park Spring/Summer meet, the New York Racing Association announced July 23.
Wagering has dropped 11% on North American Thoroughbred racing since the end of the Triple Crown series -- at least by one indicator -- a disturbing trend that can likely be attributed to a variety of factors.
Churchill Downs Inc. has appointed Ted Nicholson to oversee operations at Calder Race Course on an interim basis, one day after CDI implemented a company-wide personnel overhaul.
Monmouth Park officials said two nearby off-track wagering parlors and skyrocketing gasoline prices have led to decreases in attendance and on-track handle nearly one month into the New Jersey racetrack's 2008 meet.
Hampered by a double-digit handle decline on its biggest race card, the May 17 Preakness Stakes (gr. I), Pimlico Race Course realized a 16.5% drop in all-sources wagering for its 31-day meet that closed June 7.
David Nathanson has been promoted to the newly-created position of president of TVG, the company announced May 19.
After four straight years of handle topping $87 million, wagering on the Preakness program declined 15.8% in a year-over-year comparison with the 2007 card.
Churchill Downs announced May 9 a 20% purse cut for its spring meet effective May 14, laying the blame on horsemen's groups for rejecting offers on signal distribution.
TVG processed $108.8 million in total wagering during the first quarter of 2008, the highest first quarter total in the company's history and a 32% increase over the first quarter of 2007.
All-sources handle dropped nearly 2% on the May 3 card of the Kentucky Derby Presented by Yum! Brands (gr. I), a result a Churchill Downs official blamed on the fallout from an ongoing dispute with horsemen over signal distribution.
Perhaps feeling the effects of an ongoing dispute with horsemen over signal distribution, handle on the May 2 Kentucky Oaks (gr. I) program was down about 7%, according to numbers released by the track.
The unaudited figures from the New Zealand Racing Board for the first six months of the 2007/08 season show that despite the challenges imposed by the equine influenza outbreak in Australia, business has continued to deliver strong turnover growth.
MTR Gaming in its annual report said it lost $11.4 million in 2007 and announced Ted Arneault will step down as chairman and chief executive officer at the end of the year.
Youbet.com reported March 31 it lost $28.7 million in the fourth quarter of 2007 on the same day it was notified by NASDAQ it faces delisting from the stock exchange.
A federal lawsuit between Youbet.com and several entities associated with Virginia racing has been settled, resulting in a renewed effort by the advance deposit wagering company to become licensed in the state.
The parent company of TVG Network reported the horse racing television channel realized a 10% increase in wagers processed for 2007, but saw overall revenues decline slightly for the year.
Churchill Downs Inc. says it is sincerely interested in hosting the Breeders' Cup World Championships, so much so that it offered what it considered an "innovative" multi-year plan for regularly staging the annual event at its signature namesake track starting in 2009.
Overall wagering declined slightly in the United States in 2007 while purses increased, according to "Thoroughbred Racing Economic Indicators" data released Jan. 15.
On-track handle at Calder Race Course fell 24% during the 2007 portion of its Tropical meet, according to data obtained from the Florida Division of Pari-Mutuel Wagering. Calder's simulcast handle fell 26% compared with the same period in 2006.
Churchill Downs Inc. reported a 7.1% increase in net revenue for the third quarter of 2007, but realized a 62.9% decline in net earnings, as the company's chief executive voiced hope for the future on a variety of fronts during a Nov. 8 conference call.
Youbet.com reported a decline in overall handle and increase in total revenue for the third quarter of 2007, but a related earnings conference call with analysts Nov. 7 was punctuated by discussion of the federal investigation involving the company's off-shore entity, International Racing Group.
Just as severe weather played havoc with many facets of the 2007 Breeders' Cup, the blustery, sloppy conditions hit the bottom line of handle figures at Monmouth Park during the first-ever two-day World Championships.
A total of $111,903,685 was wagered from all sources on the 11-race Breeders' Cup World Thoroughbred Championships card at Monmouth Park Oct. 27, according to preliminary data, a decline of 20.3% from the all-time record set at Churchill Downs last year.
A new all-sources handle of $30,370,671 was established for Monmouth Park during the Oct. 26 running of the Breeders' Cup World Championships, the track has reported.
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.
Turfway Park ended its 2007 fall meet Oct. 4 with increases in on-track wagering and declines in all-sources wagering on its races compared with the same period in 2006.
An increase in field size and familiarity with the product has led to some growth in business at Presque Isle Downs, which began its inaugural meet Sept. 1.
Del Mar closed its 2007 meeting Sept. 5 - and its first with a synthetic surface - with its second-highest gross handle ever and a small increase in attendance, the Southern California track reported.
Evangeline Downs Racetrack & Casino's recently concluded 2007 spring/summer season showed across-the-board gains in several major categories, including total handle, on-track handle, purse distribution, and average field size for the 89-night meet.
Saratoga wrapped up a strong 36-day meet Sept. 3 with solid gains in total handle, on-track handle, and attendance, and even set a record along the way.
The chairman of the Hong Kong Jockey Club said tax rates and regulations need to be reviewed in order for the racing entity to compete at a time of great change.
Through the fifth week of the Saratoga meet, attendance is up 6% from last year, on-track handle is up 7.5%, and total handle is up 6.1%, according to figures released by the New York Racing Association.
Laurel Park's "Ten Days at 10 Percent" promotion didn't produce the desired results as far as handle is concerned, but track officials said the concept--cutting pari-mutuel takeout in half--should continue to be explored.
Attendance, on-track handle, and all-sources handle remain up through three weeks of the Saratoga meet when compared with figures for the comparable period in 2006, the New York Racing Association announced Aug. 13.
Attendance, on-track handle, and total handle remained up through the first 11 days of racing at Saratoga.
Attendance, on-track handle, and total handle remained up through the first 11 days of racing at Saratoga Race Course.
- By Tom LaMarra
Handle during the multi-faceted Hong Kong Jockey Club racing season topped the HK$100-billion mark for the first time in 2006-07, but officials said there's still much work to be done.
Belmont Park's on-track handle, including simulcasts, increased 4.3% at the recently-concluded 59-day spring/summer Meet, the racetrack announced July 27.
Purses and pari-mutuel handle were up slightly in the second quarter of this year compared with the same period in 2006.
Hollywood Park closed its 63-day spring meet July 15 with a record average in all-sources handle, fueled by increases in on-track and advance deposit wagering, the Inglewood, Calif. racetrack reported.
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