Video lottery terminal revenue from two Maryland casinos will fund a 16% increase in purses at Laurel Park effective Feb. 2.
The proposed Indiana budget bill includes a line item that would almost cut in half the amount horse racing receives from racetrack slot machines.
A bill that would shift $30 million from the Casino Redevelopment Authority to the horse racing industry over a three-year period progressed in the New Jersey legislature Jan. 10.
Wagering on Thoroughbred racing in the United States fell 7.3% and purses declined 6% in 2010, continuing the trends seen in recent years as the industry remains mired in recession.
Turfway Park, which raced four days a week instead of five during its holiday meet, reported an increase in average daily ontrack wagering but as expected a decrease in average daily all-sources pari-mutuel handle.
Hollywood Casino at Charles Town Races reported gains in total pari-mutuel handle for its 2010 meet, which spanned 227 full programs and four partial cards through Dec. 31.
Mountaineer Casino, Racetrack & Resort will offer 210 days of live Thoroughbred racing in 2011 beginning March 1.
Hastings Racecourse & Slots will offer a 71-day Thoroughbred meet in 2011 and increase purses double digits, officials said.
The Maryland Jockey Club will receive more than $5 million for operations under the parameters of a negotiated agreement that will maintain a full 146-day live Thoroughbred racing schedule in the state.
Purse increases create interest in Indiana racing. Download Now
The Dec. 18 Prairie Bayou Stakes at Turfway Park says a couple of things about the state of Kentucky racing: Purses aren't up to par, and $50,000 can still buy you a pretty good field.
Total wagering on live Thoroughbred races at Remington Park was up 48.3% to $54,179,243 this year, officials at the Oklahoma racetrack said Dec. 13.
- By Tom LaMarra
Churchill Downs Inc. president and chief executive officer Bob Evans said Dec. 7 there are reasons to be optimistic about the future of horse racing -- but not without major changes in the way the industry does business.
Wagering, purses and race days in United States Thoroughbred racing continued a downward spiral in November compared to one year ago, according to the latest available data.
The Kentucky racing scene shifts to Turfway Park Dec. 2 for a fourth-month run that comprises two meets. The holiday meet will run through Dec. 31, followed by the winter-spring meet from Jan. 1-April 3, 2011.
Faced with making a decision brought about by the battering of the Kentucky horse racing industry, Turfway Park has opted to cut some overnight purses in order to maintain a weekly stakes schedule.
- By Tom LaMarra
Wagering and purses for Thoroughbred racing declined again in October, in part because of a decrease of 61 race days from the same month in 2009.
A greatly scaled-down meet offered fewer opportunities for horsemen but generated on-site gains at Retama Park, which wrapped up its live meet Oct. 23.
Hoosier Park Racing & Casino in Indiana reported strong across-the-board gains for its 2010 meet that ended Oct. 24.
Through the first eight days of its fall meet, Keeneland reported solid increases in ontrack attendance and pari-mutuel handle, and steady all-sources wagering.
- By Tom LaMarra
Total pari-mutuel handle on United States racing through September 2010 was about $700 million behind the figure for the same period in 2009, according to the latest Thoroughbred Racing Economic Indicators.
Remington Park in Oklahoma reported strong gains in pari-mutuel handle for the first 20 days of its 66-day Thoroughbred meet.
Starting with the card on Saturday, Sept. 25, the New York Racing Association will increase purses at Belmont Park's fall championship meet by approximately 13%.
Despite political and financial uncertainty, New Jersey officials expect Monmouth Park to offer a similar schedule in 2011 and already are discussing ways to improve upon this year's Elite Summer Meet.
Unlike 2009, when purses and live racing days were cut, Ellis Park reported solid numbers for its 27-day meet that ended Sept. 6.
- By Tom LaMarra
Pari-mutuel handle was off by about $100 million in August compared with the same month in 2009, yet another indication any rebound will take longer than some in the industry imagined.
Another experimental year continues in Kentucky as Ellis Park wraps up its summer meet and Turfway Park prepares for a scaled-down session with only one stakes.
Monmouth Park's post-Labor Day meet will offer higher average daily purses than originally projected, officials at the New Jersey racetrack said Aug. 24.
Keeneland has offered buyouts to some of its employees in the wake of a financial crunch brought about by a number of factors.
Remington Park in Oklahoma has a new owner and a new look for its 2010 Thoroughbred meet, which begins Aug. 19. More than $12 million will be spent on renovations, officials said.
Hoosier Park Racing & Casino raised overnight purses about 9% for six middle-class conditions effective Aug. 11.
For the first time in recent memory, the minimum purse at Mountaineer Casino, Racetrack & Resort has fallen under $8,000 because of a purse reduction.
Pari-mutuel handle on live and simulcast racing has increased at Hollywood Casino at Charles Town Races since casino table games were added to the mix at the West Virginia facility, officials said Aug. 4.
Churchill Downs has not decided whether to implement a form of Instant Racing should the VLT-like games be approved for Kentucky tracks, according to Churchill Downs Inc. president and CEO Robert Evans.
An expanded stakes schedule and an increase in overnight purses are part of the Hoosier Park Racing & Casino Thoroughbred meet that begins July 31.
The New York Racing Association has suspended nine stakes and reduced purses for 12 others during its fall meets at Belmont Park and Aqueduct.
Continued declines in handle and the lowest purse structure in decades have led River Downs to cut the purses of its two premier stakes for 2-year-olds by 50%.
Indiana Downs set a total handle record for one program when it wrapped up its 2010 meet July 14.
Total handle for June is down 5.82% while purses and race days fall 1.21% and 3.23%, respectively.
Citing the challenging economic climate, Keeneland director of racing Rogers Beasley said the Lexington racetrack has cut purses for the fall meet by more than $1 million.
Indiana Downs, citing weather-related cancellations, will increase some overnight purses and state-bred supplements in open races 30% effective June 29. The meet ends July 14.
Horsemen in southeast Florida are hoping that the 10% purse increase that Calder Casino & Race Course announced on June 12 will be followed by another increase this year.
Officials and horsemen at Finger Lakes Gaming & Racetrack are livid over a 12% purse cut they say was necessitated by the ongoing financial difficulties of New York City Off-Track Betting Corp.
Churchill Downs announced June 8 it will raise overnight purses 10% effective June 12 for the final three weeks of its spring meet.
- By Tom LaMarra
Pari-mutuel handle, purses, and race days all declined in May compared with the same month in 2009, according to the latest Thoroughbred Racing Economic Indicators.
- By Tom LaMarra
Revenue from alternative forms of gaming now accounts for almost one-third of total Thoroughbred purses in United States, but despite a decrease in handle, the percentage of handle that goes to purses has remained steady.
When Indiana Downs didn't card a scheduled $75,000 stakes May 26 due to a shortage of entries, red flags were raised as to whether there was another reason the race wasn't run.
The first day of the Monmouth Park experiment can be considered a success as far as the entry box goes, as 148 horses were entered in 13 races with purses totaling $812,000.
There is a buzz around Monmouth Park, which opens May 22 for an experimental meet during which purses will average about $1 million a day.
Atlantic City Race Course is again making a pitch to expand its racing days but says it needs several million dollars a year in additional purse money.
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