JC / Railbird

Handle

The Gaming Trade

Bill Finley on the approaching end of slots-supported racing:

… now things are starting to change. Where will the sport be when the slots money starts to go away? Whatever the answer is, it’s not a good one.

NYRA president Charlie Hayward speaking in support of full-fledged casinos:

“The racing industry will get 16 percent of the racino’s net earnings,” Hayward said. “We can take a little bit of pain in terms of reduced handle.”

In Hayward’s favor, NYRA numbers are strong post-NYC OTB.

Posted in Industry on February 8, 2011 / Tagged Expanded Gaming, Handle, New York, NYC OTB, NYRA, Racinos, Slots

Meetings Taken

Santa Anita and Del Mar executives recently met with horseplayers to discuss the January 1 takeout increase and other concerns. Art Wilson reports:

A HANA-backed boycott of California races is believed to be a factor in Santa Anita’s declining handle numbers this meet. HANA president Jeff Platt and the group’s California representative, Roger Way, met with Santa Anita president George Haines and Allen Gutterman, the track’s marketing director, on Sunday at Santa Anita and with Del Mar president Craig Fravel and marketing director Craig Dado on Monday … Aaron Vercruysse, hired recently by the Thoroughbred Owners of California to advise the group on betting matters, attended Sunday’s meeting …

The meetings are evidence that horseplayers, as represented by HANA, have gained the clout to compel conversation about customer issues. And while conversation isn’t action of the sort that’s going to end the players’ boycott, it is a start, one that went over well with Andy Asaro, a California horseplayer who attended both meetings. I talked with Asaro last night and he was positive about the discussions, describing the Santa Anita and Del Mar executives as “very interested” in the bettors’ perspective and open to making adjustments. He was less appreciative of the TOC, represented by Vercruysse. Although Asaro found Vercruysse pleasant and knowledgeable, he felt his presence was perfunctory. “He was there for the TOC to be able to say they talked to us,” said Asaro, suggesting that wasn’t enough. “They need to show goodwill.”

1/31/11 Addendum: HANA president Jeff Platt answers questions about the meetings. Noted: “However, I think there might be at least partial support at this point within track management to rescind the takeout increase. I say that because they reached out to us. They are looking for solutions.”

Posted in Industry on January 29, 2011 / Tagged Boycott, California, CHRB, Del Mar, HANA, Handle, Horseplayers, Santa Anita, Takeout, TOC

The Disconnect

From Matt Hegarty’s must-read on the state of the racing business:

But continuing to fatten purses is a solution that directly serves horsemen, not bettors. In a macroeconomic sense, it’s hard to argue that the $318 million in subsidies distributed to purses in 2009 made the game better. The U.S. foal crop cratered, the bloodstock market remained in its doldrums, and handle continued to decline at unprecedented rates.

Slots are the subject above, but unleavened takeout increases are similarly flawed. We’re seeing the results of a horsemen-first view in California now.

Posted in Industry on January 28, 2011 / Tagged Business of Racing, California, Economics, Handle, Horseplayers, Purses, Slots, Takeout