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If you review the entire set of spreadsheets covering the DelMar 2023 Summer Meeting, you can see some of the clear and present dangers being faced by California's showcase summer meeting.
In 2023, the total Delmar handle was $644M. Without arguing about the increase or decrease over previous seasons, take a look at the composition of the handle.
If I asked you what the number one handle source was, what would your answer be?
The answer is TVG at $139.4M with FanDuel contributing another $8.8M for 23% of total handle. Other platform/ADW players include Twin Spires at $50.6M, XpressBet at $48.2M, and NYRA/Bets at $21.4M. All totaled, these ADWs account for 41.6% of handle.
Next is the Elite Player Group at $113.7M along with entities such as the Player Management Group at $14.6M; all totaled, this is another 19.9% of total handle.
Lastly, let's look at the tracks themselves in California. Delmar handled $52.9M themselves, followed by Santa Anita at $15.0M, Los Alamitos at $11.6M, and Pomona at $8.0M for a 13.6% total.
So, roughly, about 2/5ths of handle is coming from ADW platforms, 1/5 from CAW traffic, and 2/5ths from tracks and other outlets.
In short, tracks that do not own their own ADW platforms or do not have a CAW partnership cannot possibly survive longer term unless bought (and then closed) by larger organizations.
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