Keeneland Cuts Purses by More Than $1 Million

[andymays]

http://www.bloodhorse.com/horse-racing/articles/57721/keeneland-cuts-purses-by-more-than-1-million

Excerpt:

Citing the challenging economic climate, Keeneland director of racing Rogers Beasley said the Lexington racetrack has cut purses for the fall meet by more than $1 million, with the vast majority of the reduction coming from stakes. Two stakes–the Perryville (gr. III) and the Bryan Station (gr. IIIT)–have been eliminated from the schedule.

It's the second straight year Keeneland has cut stakes purses. Last year, the track reduced stakes purses by $275,000.

[The_Knight_Sky]

Citing the challenging economic climate......





translation: bettors are flocking away from Polytrack racing.

[Deepsix]

Don't know IF folks fleeing from Poly is the answer. I played Kee for years before they changed surfaces and Kee ate my lunch. It was particularly difficult to play their meets because of folks shipping in from parts unknown, AND because of all the local KY horsemen who quietly trained on their small farms and brought horses ready to run.

It's my opinion, maybe not a strong fact based opinion, but I believe its a combination of Poly and economics..... the "using your house as an ATM" period had evaporated and dollars are tight everywhere.

Whatever? I don't have the answers BUT I don't buy the simplistic 'Poly' explanations, either.

[OTM Al]

A $1 million cut on a 3 month meet is one thing but cutting that much on what amounts to a 3 week meet is pretty deep. Guess Keeneland really isn't all that perfect. Unfortunate really.

[alhattab]

translation: bettors are flocking away from Polytrack racing.

I think the sales declines have something to do with it. I'm not certain, but pretty sure, that Keeneland was the first track to enhance purses with something other than pari-mutuel handle. Nobody ever seems to talk about it when discussing the insidious "revenue enhancers", but revenue from the sales has been supporting Keeneland's purses well before slots came along. The collapse in the sales market must be affecting the purse account.