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07-05-2004, 05:22 PM
News From the North
Golden Gate Downturn Continues
By Jim Ghidella
One of these days I'm going to write an article that answers more questions than it raises, but I'm afraid this isn't the one.
At this writing, the 105-day Golden Gate Fields meeting was in its last two weeks. Two factors have greatly hurt the meeting: 1) reduced field size and 2) a monumental downturn in out-of-state handle.
Our horse inventory has been drastically reduced, not by horses leaving for other states, but by injury. If there is blame, it is on the makeup of the surface. We had very heavy rains in late December, January, and February, in response to which the surface was tightened to rock-hard proportions. With the lowest-end claimers running track-record times, something had to give, and it did.
We are currently housing 250 fewer horses than at the beginning of the meeting, and that is before the exodus of Washington horses. In March, we've had beautiful spring-like conditions, and the track has been excellent. Before the next Golden Gate race meeting and before the next purse agreement is signed with Pacific Racing Association, management will have to demonstrate to our satisfaction what steps have been taken to make this track conducive to winter racing.
The drastic dip in out-of-state handle is directly owing to Magna's shutting off its signal to several out-of-state rebaters and others in competition with its own unsuccessful ADW operation, XpressBet. While most all of the denied carriers are back online, a large sector of the customers has not returned. The meeting is now down 17% in out-of-state handle, or $38 million, which translates into roughly $580,000 of lost purse revenues. This deficit is the principal reason why purses were cut mid-meeting by 3.9%.
In the next six months we need an influx of out-of-state horses. We're typically dependent on Arizona horses to replace those returning to Washington. If workers' compensation rates can be pared almost in half by new legislation, it will go a long way toward ensuring that this sport will continue in Northern California.
Golden Gate Downturn Continues
By Jim Ghidella
One of these days I'm going to write an article that answers more questions than it raises, but I'm afraid this isn't the one.
At this writing, the 105-day Golden Gate Fields meeting was in its last two weeks. Two factors have greatly hurt the meeting: 1) reduced field size and 2) a monumental downturn in out-of-state handle.
Our horse inventory has been drastically reduced, not by horses leaving for other states, but by injury. If there is blame, it is on the makeup of the surface. We had very heavy rains in late December, January, and February, in response to which the surface was tightened to rock-hard proportions. With the lowest-end claimers running track-record times, something had to give, and it did.
We are currently housing 250 fewer horses than at the beginning of the meeting, and that is before the exodus of Washington horses. In March, we've had beautiful spring-like conditions, and the track has been excellent. Before the next Golden Gate race meeting and before the next purse agreement is signed with Pacific Racing Association, management will have to demonstrate to our satisfaction what steps have been taken to make this track conducive to winter racing.
The drastic dip in out-of-state handle is directly owing to Magna's shutting off its signal to several out-of-state rebaters and others in competition with its own unsuccessful ADW operation, XpressBet. While most all of the denied carriers are back online, a large sector of the customers has not returned. The meeting is now down 17% in out-of-state handle, or $38 million, which translates into roughly $580,000 of lost purse revenues. This deficit is the principal reason why purses were cut mid-meeting by 3.9%.
In the next six months we need an influx of out-of-state horses. We're typically dependent on Arizona horses to replace those returning to Washington. If workers' compensation rates can be pared almost in half by new legislation, it will go a long way toward ensuring that this sport will continue in Northern California.