NYRA Disinformation

[drib]

Today's DRF carries the headline "NYRA First Quarter Handle Up", but if one reads the article, it is apparent that, in reality, the first quarter business was down significantly. This year, NYRA ran 3 more days than 2013. Using total handle as a measure of business trends is laughable; of course, if you run 3 more days your total handle should be higher. A better comparison is average daily handle ( not even mentioned in the article). For 2013 first quarter the average was $7.978 million; 2014 was $7.635 million; thus this year's business was off 4.3%.....Talk about putting lipstick on a pig.

[Flysofree]

Today's DRF carries the headline "NYRA First Quarter Handle Up", but if one reads the article, it is apparent that, in reality, the first quarter business was down significantly. This year, NYRA ran 3 more days than 2013. Using total handle as a measure of business trends is laughable; of course, if you run 3 more days your total handle should be higher. A better comparison is average daily handle ( not even mentioned in the article). For 2013 first quarter the average was $7.978 million; 2014 was $7.635 million; thus this year's business was off 4.3%.....Talk about putting lipstick on a pig.

:lol: I Love New York...

[Tom]

*Whew!*
Good thing I read this before I bet today!

[alydar]

NYRA is hardly the first track to try and put a positive spin on the numbers. Tracks are getting more and more reluctant to share handle numbers if they can.

That being said, comparing handle year to year is extremely difficult. Cancellations, bad weather, number of races run and different days of operations all make comparisons very hard to do.

I think NYRA is doing just fine. Would they like to be doing better, of course.

A number of years ago they shut off major rebate shops. I am not in the loop as much anymore, is that still true?

[Saratoga_Mike]

NYRA writes the headlines for the DRF? Or did a NYRA press release say the same thing?

[TheEdge07]

Who cares about the numbers...there running.

[drib]

This misinformation came directly from NYRA (abetted by lazy and/or booster reporting). According to the Paulick Report:...."In a meeting held with the Franchise Oversight Board on Tuesday, officials with the New York Racing Association reported that total handle for the first quarter of 2014 showed a slight increase as compared with last year."


http://www.paulickreport.com/news/the-biz/nyra-reports-increases-in-first-quarter-handle/

[PaceAdvantage]

So handle went up, they reported handle went up, and you call that disinformation.

Let me ask you a serious question. Should they have reported that handle was down?

BTW, did the following also come from NYRA too?Business was below what NYRA officials had budgeted, and the rough winter weather took most of the blame.

“Certainly, we were disappointed that we had so many days wiped out due to terrible weather,” NYRA president Christopher Kay said. “It was a historically bad winter for all of us in the Northeast. We’re looking forward to a good spring.”
Is there such a lack of posts on this board, that people feel the need to manufacture controversy where none really exists?

[Saratoga_Mike]

This misinformation came directly from NYRA (abetted by lazy and/or booster reporting). According to the Paulick Report:...."In a meeting held with the Franchise Oversight Board on Tuesday, officials with the New York Racing Association reported that total handle for the first quarter of 2014 showed a slight increase as compared with last year."


http://www.paulickreport.com/news/the-biz/nyra-reports-increases-in-first-quarter-handle/

I appreciate the point about average daily handle, but the above statement is true (????). Did NYRA hide the number of racing dates? I can't find a NYRA press release on the matter. If they really wanted to misinform the public, they could have said total handle was DOWN in the first quarter.

[PaceAdvantage]

A much more honest title to the thread would have been "NYRA 1st Qtr Handle-Reading between the lines"

But it wouldn't be as sensational I suppose.

[drib]

If a company, say Walmart or MacDonalds, did such a shoddy, misleading quarterly report, there would be an uproar among shareholders and analysts, followed by an SEC investigation. Averages (such as per store business) are the lifeblood of real business quarterly reports. In the gambling world, a key casino number is the per machine profit. Rather than a small increase, NYRA experienced a significant (over 4%) loss in business for the first quarter.

[Saratoga_Mike]

If a company, say Walmart or MacDonalds, did such a shoddy, misleading quarterly report, there would be an uproar among shareholders and analysts, followed by an SEC investigation. Averages (such as per store business) are the lifeblood of real business quarterly reports. In the gambling world, a key casino number is the per machine profit. Rather than a small increase, NYRA experienced a significant (over 4%) loss in business for the first quarter.

You are saying a retailer has never put in a headline "total sales INCREASE," when underlying same-store sales were down? Please.

I hope Pace changes the title of the thread - the title is misinformation.

[drib]

It is apparent that you do not live in the business world b/c, using your example, it would actually be a major SEC violation if a business reported increased total revenue without noting decreased average daily revenue.
If MacDonald's opened several new stores in the first quarter (guaranteeing an increase in total sales), yet experienced a per store decrease in business, you better believe that a headline proclaiming increased total revenue would be met with an uproar. Companies, in quarterly reports, are required by the SEC to give a true picture of their business.

[Saratoga_Mike]

It is apparent that you do not live in the business world b/c, using your example, it would actually be a major SEC violation if a business reported increased total revenue without noting decreased average daily revenue.
If MacDonald's opened several new stores in the first quarter (guaranteeing an increase in total sales), yet experienced a per store decrease in business, you better believe that a headline proclaiming increased total revenue would be met with an uproar. Companies, in quarterly reports, are required by the SEC to give a true picture of their business.

You make me laugh. I've read more company press releases, 10Qs, 10Ks and proxies in the past yr than you probably have in your life. You changed your argument - I thought we were focused on the headline? Oh hell, the whole point is moot - DRF wrote the headline. Believe whatever you like; I don't care that much. As Pace said (I'll paraphrase him and he'll probably correct me), you're manufacturing crap.

[the little guy]

Some serious investigative journalism in this thread.

[drib]

You make me laugh. I've read more company press releases, 10Qs, 10Ks and proxies in the past yr than you probably have in your life. You changed your argument - I thought we were focused on the headline? Oh hell, the whole point is moot - DRF wrote the headline. Believe whatever you like; I don't care that much. As Pace said (I'll paraphrase him and he'll probably correct me), you're manufacturing crap.


For someone who claims to read so many business reports, you cannot seem to get simple facts correct. As I noted above, the headline in the DRF was taken directly from what NYRA reported to its oversight board.

[classhandicapper]

IMO there are way too many moving parts to look at any one report and conclude anything. IMO you have to look at much longer trends.

How did the very severe winter impact things?

How did the general economy impact things?

How did rising or falling incomes impact things?

There's no way to control for an almost endless list of variables that might impact a single report. Other than that, almost every business tries to present their results in as positive light as possible.

I'm not sure why this matters much to horse players. I'm more interested in field size, quality, depth etc.. I want races I can bet on. If they provide that, I think the handle will take care of itself.

[Tom]

I'm not sure why this matters much to horse players. I'm more interested in field size, quality, depth etc.. I want races I can bet on. If they provide that, I think the handle will take care of itself.

As long they have enough to pay me my $6.00..... :rolleyes:

[westny]

Today's DRF carries the headline "NYRA First Quarter Handle Up", but if one reads the article, it is apparent that, in reality, the first quarter business was down significantly. This year, NYRA ran 3 more days than 2013. Using total handle as a measure of business trends is laughable; of course, if you run 3 more days your total handle should be higher. A better comparison is average daily handle ( not even mentioned in the article). For 2013 first quarter the average was $7.978 million; 2014 was $7.635 million; thus this year's business was off 4.3%.....Talk about putting lipstick on a pig.

:eek: :eek: :eek:

And what is the daily handle at CDI tracks for comparison :rolleyes:

[Cratos]

Today's DRF carries the headline "NYRA First Quarter Handle Up", but if one reads the article, it is apparent that, in reality, the first quarter business was down significantly. This year, NYRA ran 3 more days than 2013. Using total handle as a measure of business trends is laughable; of course, if you run 3 more days your total handle should be higher. A better comparison is average daily handle ( not even mentioned in the article). For 2013 first quarter the average was $7.978 million; 2014 was $7.635 million; thus this year's business was off 4.3%.....Talk about putting lipstick on a pig.

Before you go off on the deep end , I suggest that you should first find out the sources of NYRA's handle for those two years.

If the sources are different or if attendance is different and had an affect on the handle, it should have been included in your calculation.

[ultracapper]

This isn't a quarterly report, it's a newspaper article.

[iceknight]

Today's DRF carries the headline "NYRA First Quarter Handle Up", but if one reads the article, it is apparent that, in reality, the first quarter business was down significantly. This year, NYRA ran 3 more days than 2013. Using total handle as a measure of business trends is laughable; of course, if you run 3 more days your total handle should be higher. A better comparison is average daily handle ( not even mentioned in the article). For 2013 first quarter the average was $7.978 million; 2014 was $7.635 million; thus this year's business was off 4.3%.....Talk about putting lipstick on a pig.It may be lipstick on a pig according to your definition, but there is not disinformation.
by the way, pork bellies -- buy low, sell high.