PA To Cut VLT Purse Subsidy 16.5%

[Shemp Howard]

In an effort to shore up a bleeding general fund for at least 5 years. A $40 million haircut and long overdue. Daily distribution at Presque Isle larger than the entire handle, $84K MSW 2yo races at Pha and Penn National, where the crumb bum owners go to die. This massive misallocation of capital is distrorting the sport and economic growth in the state.

[lamboguy]

this is the beginning of the end to the horse racing business. of course nothing last's forever, and the welfare is going down the tubes.


i wonder if the horse racing industry wants to keep sitting on their nice soft rear ends and wait till they get bumped out.

[InsideThePylons-MW]

this is the beginning of the end to the horse racing business.

All they need to do is get a little slot subsidy, lower wager minimums, charge ADW's more and raise takeout.......everything will be fine.

[rrbauer]

Daily distribution at Presque Isle larger than the entire handle, ...

Amazing! I don't follow PID but I have noticed that in spite of their generous purse structure that field sizes aren't that great. This is "found" money for the politicians and the government. You think it will ever be diverted back to horse racing? Ha!

At the same time it speaks to the reason(s) that horseplayers have little or no clout with the industry power structure: When it can get money from the general population, the money that horseplayers provide is just icing on the cake.

[turfeyejoe]

Where did you get the 16.5 percent figure? All the stories I read said 2 percent.

"An additional 2 percent of slot-machine gambling revenue, money which currently benefits Pennsylvania's race horse industry, would be diverted into the state's general fund for four years."

[ddog]

didn't read it, but it wouldn't surprise me if 2% of the SLOTS money is equal to 16.5% of the horse side money.

[cj]

It is just a matter of time until the slots money is gone from most horse racing venues. I've been saying it for years, and it will come to fruition.

[46zilzal]

It is just a matter of time until the slots money is gone from most horse racing venues. I've been saying it for years, and it will come to fruition.
It is happening at most all the racinos.

[Gone2Golf]

One problem with these sites that get slot money...they all increase their race dates - further extending an already too long racing season. Run shorter meets for more money. The dumbest thing going is Philly and Penn National both racing year-round for $200,000 a day. They could split the year with each running 6 months and the purses would be $400,000 a day - thereby having a chance to increae the quality and field sizes of what's running there. Maybe then, some of us might actually bet on the races from those tracks. Oh but wait, the horsemen wouldn't go for that because they like running in shorter fields for that slot money. Keep squandering that slot money and the gov't is certainly going to take it from racing!

[Shemp Howard]

Where did you get the 16.5 percent figure? All the stories I read said 2 percent.

"An additional 2 percent of slot-machine gambling revenue, money which currently benefits Pennsylvania's race horse industry, would be diverted into the state's general fund for four years."

12% to 10% was a 16% cut when I went to school. But that was a loooong time ago.

[castaway01]

One problem with these sites that get slot money...they all increase their race dates - further extending an already too long racing season. Run shorter meets for more money. The dumbest thing going is Philly and Penn National both racing year-round for $200,000 a day. They could split the year with each running 6 months and the purses would be $400,000 a day - thereby having a chance to increae the quality and field sizes of what's running there. Maybe then, some of us might actually bet on the races from those tracks. Oh but wait, the horsemen wouldn't go for that because they like running in shorter fields for that slot money. Keep squandering that slot money and the gov't is certainly going to take it from racing!

To be fair, they have to run year-round to keep their right to simulcast races, based on Pennsylvania's laws, and they ran year-round before they got the slot money.

[castaway01]

One problem with these sites that get slot money...they all increase their race dates - further extending an already too long racing season. Run shorter meets for more money. The dumbest thing going is Philly and Penn National both racing year-round for $200,000 a day. They could split the year with each running 6 months and the purses would be $400,000 a day - thereby having a chance to increae the quality and field sizes of what's running there. Maybe then, some of us might actually bet on the races from those tracks. Oh but wait, the horsemen wouldn't go for that because they like running in shorter fields for that slot money. Keep squandering that slot money and the gov't is certainly going to take it from racing!

They didn't increase their race dates. Pennsylvania law says you have to run 180 days a year to be able to simulcast. That's why Penn National and Philly Park run year-round. That's the rule, sorry---if it changed let me know, but that was it in the pre-slots days.

[bks]

link, please?

thx

[Shemp Howard]

One of hundreds posted on the internet. My info comes from a PA lobbyiest daily breifing. There take is this is only the beginning. In addition, the tax on casino games is not part of the law and will be set at less than the slots. The Sands in Bethlehem has already scrapped adding 2,000 slots and will convert the space to table games.





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