Edited From Lone Star Park Press Release--
The 21st running of the Breeders' Cup World Thoroughbred Championships last October at Lone Star Park in Grand Prairie, Texas helped generate $47.4 million in new economic activity for that state, according to a study released by Terry L. Clower, Ph.D. and Bernard L. Weinstein, Ph.D., of the University of North Texas.
The study, entitled "Economic and Fiscal Impacts of the 2004 Breeders' Cup World Thoroughbred Championships," stated that almost 46% of the 53,717 in attendance for the Breeders' Cup came from outside Texas, including visitors from more than 40 states and countries on four continents.
Out-of-state visitors and organizations spent $20.45 million for lodging, food and beverages, retail merchandise and other entertainment during their stay, which averaged 2.9 nights in the Dallas-Fort Worth area, according the study.
"Staging a prestigious event such as the Breeders' Cup clearly demonstrates what we can accomplish when we all work together to benefit the state's economy," said Lone Star Park President Corey Johnsen. "Texas received an excellent return on its investment and gained priceless international exposure."
Spending at the Breeders' Cup -- eight championship races with purse money totaling $14 million -- helped generate $47.4 million in new state economic activity and increased labor income by $16.8 million.
It was also estimated that state tax revenues for Texas increased by $2.059 million.