Based on the results of a 23-day summer meet at Laurel Park that generated positive numbers and response from the local community, the Maryland Jockey Club intends to do so again next year -- on some level.
Aided by an almost 9% increase in average field size and eight more turf races, pari-mutuel handle at the midway point of the 40-day Saratoga Race Course meeting is showing strong gains compared with the same period in 2014.
Business so far at the Saratoga Race Course meet has been very strong, NYRA officials reported Aug. 12, but they also noted that operating revenue for the year is down compared with 2014.
Perhaps helped a bit by added attention for horse racing following American Pharoah's Triple Crown sweep, wagering on U.S. races improved 1.41% in July to $903,673,455 when compared with July 2014.
The Maryland Jockey Club's first casino off-track betting parlor has been doing pretty good business since it opened in late April, officials said Aug. 4.
American Pharoah's dominating victory in the William Hill Haskell Invitational Stakes (gr. I) paced Monmouth Park in New Jersey to a record-breaking day.
Racing stakeholders fully understand that having sports betting at tracks in West Virginia is a 90-1 shot. But other things like off-track betting are a bit more realistic as they fashion a wish list to increase revenue.
Kentucky Downs recorded $8,425,830 in pari-mutuel handle on its historical race wagering machines from June 29 to July 5 to set an all-time weekly record, the western Kentucky track said July 7.
Santa Anita Park's 39-day spring meet concluded June 28 with gains in both on-track attendance and overall pari-mutuel handle.
Boosted by record wagering on the Kentucky Derby Presented by Yum! Brands (gr. I) card, Churchill Downs registered a 2.46% increase in pari-mutuel handle during its 38-day spring meet.
This year's $500,000 Ohio Derby in retrospect can be considered a success on several levels, and management at ThistleDown Racino expects the marquee race--and the overall racing product--to only get better.
The United States Department of Treasury and Internal Revenue Service were told June 17 that current regulations related to the tax withholding and reporting of pari-mutuel winnings are "unfair and totally burdensome."
In its fiscal year financials filed June 17, parent company Betfair reported a strong year for its U.S. advance deposit wagering operation and racing channel, TVG.
Given record wagering during the opening week of its spring meet, Churchill Downs June 9 announced a 10% hike in overnight purses for the remaining 11 programs of the meeting.
The Maryland Jockey Club announced June 8 that Pimlico Race Course's 37-day spring meet ended June 6 with sharp increases over last year in total and average pari-mutuel handle.
All-sources pari-mutuel handle on the 13-race Belmont Stakes (gr. I) program June 6 totaled $134,839,391, down about 10.2% from last year's Belmont day program, which had the same number of races.
The first two days of the inaugural Belmont Stakes Racing Festival showed sharp increases in on-track and all-sources wagering over the same two days in 2014, the New York Racing Association announced June 5.
With pari-mutuel wagering up for the Kentucky Oaks day card, the Kentucky Derby day card, and the Preakness day card, racing enjoyed a 4.82% increase in wagering in the all-important month of May.
Average fields of just over eight horses per race might be enough for right now, but Gulfstream Park has the potential for fields larger than that during future summer meets, officials said.
Industry participation in the effort to win pari-mutuel tax withholding modernization has helped push the number of comments submitted to the federal government to about 9,500 as of May 26.
Monmouth Park reported strong gains in pari-mutuel handle and record attendance for its three-day Memorial Day weekend May 23-25.
The National Thoroughbred Racing Association is urging horseplayers and other industry stakeholders to submit comments in support of modernization of gambling withholding and reporting to the U.S. Department of Treasury.
The Maryland Jockey Club reported record attendance of 131,680 for the May 16 Xpressbet.com Preakness Stakes (gr. I) at Pimlico Race Course as well as an increase in pari-mutuel handle from last year's event.
Average field size at Gulfstream Park for its Dec. 6, 2014-April 5 race meet grew 13.1% from 8.4 to 9.5 horses per race, while average daily all-sources pari-mutuel handle slipped 1.7% but was still a solid $8.1 million.
All-sources pari-mutuel handle on the 13-race Kentucky Derby Presented by Yum! Brands (gr. I) program May 2 totaled a record $194.3 million, up 4% from $186.6 million in 2014, Churchill Downs Inc. said.
After a record-breaking first quarter for Churchill Downs Inc., company officials expect more good news as one executive predicts record revenues from Kentucky Derby Presented by Yum! Brands (gr. I) week.
Legislation designed to encourage Atlantic City casinos to offer full-card simulcasts -- or at least protect them at the one casino that still offers wagering on horse races -- was signed into law April 27.
New York regulators April 27 approved rules to enhance certain kinds of wagering on Thoroughbred races, which promoters believe will boost revenue and field size.
Keeneland concluded its 15-day meet April 24 with overall on-track attendance ranking the fourth-highest in spring meet history, but pari-mutuel handle figures were off from last year's meet.
Gulfstream Park will open its 2015 spring/summer racing season April 8 with an eight-race card topped by a $46,000 allowance optional claimer that includes the Todd Pletcher-trained stakes runner Vinceremos.
Turfway Park recorded increases in all-sources and average daily pari-mutuel handle during its recently concluded 2015 winter/spring meet. Field size and purses also showed gains during the 2015 meet.
- By Tom LaMarra
- Handicapping, Northeast Region, Midwest Region, Southeast Region, Southwest Region, West Region, Kentucky, Mid-Atlantic
The lengthy dispute that has kept members of the Mid-Atlantic Cooperative from offering wagering on racetracks represented by Monarch Content Management has ended, an official confirmed March 27.
Revenue for state government from the nation's pari-mutuel industry dropped 3.5% in 2014 from a year earlier, according to a new report by a university system think tank.
Kentucky Gov. Steve Beshear March 17 signed into law a bill that will erase the state tax for on-track pari-mutuel handle on live races at Keeneland during the two days of the Breeders' Cup Oct.30-31.
The people and horses who make Kentucky home for the winter racing season continued to make a good go of it, and this year has been particularly positive from a business standpoint.
Legislation that would provide a pari-mutuel tax break during the two-day Breeders' Cup World Championships at Keeneland this fall passed the Kentucky House of Representatives by a vote of 80-11 March 2.
The Jockey Club announced March 2 that the 2015 edition of the Fact Book is available in the Resources section of its website at jockeyclub.com.
Meadowlands, which contracts with Monarch Content Management to negotiate host fees for its signal, issued a statement Feb. 27 on the ongoing dispute that is blacking out its signal from 23 racetracks.
All-sources pari-mutuel handle is up 10.3% year-to-date at Tampa Bay Downs, which puts the Florida racetrack on course to average more than $4 million per day and finish with its highest wagering total since the 2010-11 meet.
Gulfstream had all-sources pari-mutuel handle of $20,583,598 for its 12-race Fountain of Youth Stakes (gr. II) card Feb. 21, its second-best wagering total on a non-Florida Derby (gr. I) day since it opened its new facility.
A Florida-based company said Feb. 12 it will enter the historical race wagering market as a systems, platform, tote, and game provider.
Legislation that would permit the Kentucky General Assembly to approve a new game linking Thoroughbred racing and the state lottery unanimously cleared a Senate committee Feb. 10.
The Stronach Group remains optimistic about the future of the horse racing industry in North America and will continue to push for what it believes are fundamental structural changes needed to move the business forward.
Turfway Park will increase purses effective Jan. 30 with a slight across-the-board bump and an extra race per week, officials said.
National Thoroughbred Racing Association officials met with a representative of the United States Department of Treasury Jan. 28 to discuss the racing industry's efforts to alter the pari-mutuel withholding tax structure.
Centaur Gaming Jan. 12 said it is closing its off-track betting parlor in Merrillville, Ind., not far from the Illinois and Michgan borders, because of declines in business.
- By Tom LaMarra
Total pari-mutuel handle on United States harness racing in 2014 was $1.49 billion, down about 6.6% from $1.60 billion in 2013, according to the United States Trotting Association.
The Maryland Jockey Club reported a decrease in pari-mutuel handle on live racing at Laurel Park and Pimlico Race Course in 2014, but total and average purses were up from 2013.
Pari-mutuel handle on U.S. races declined 2.84% in 2014, marking the seventh time in eight years that fewer dollars have been wagered.
Despite racing two fewer programs during its 2014 holiday meet, Turfway Park registered a 21.45% increase in total pari-mutuel handle compared with the comparable meet in 2013.
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