Quote:
Originally Posted by ronsmac
I agree that they should reverse their decision but I doubt that actual revenue went down. It was probably a wash or a slight increase. Although the negative publicity and ill will probably wasn't worth it.
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Bill Shanklin on his Business of Racing website said before the meet if it fell more than 8.1% they'd lose money. I don't know where he got that figure.
Regardless, I hope we can get away from the short term revenue narrative. When Italian racing raised the juice they made money for a couple of years; now they're blockbuster video. Ditto with the "$200M for purses" estimates in California post 2010 takeout hike. Last I checked, revenues (not adjusted for inflation) were down quite a bit from pre-takeout hike levels, which is what should happen when your handle chart looks like it does.
