In California, Politics Colors Takeout Fight

[andymays]

http://www.bloodhorse.com/horse-raci...#ixzz1Q88uAoeX

Excerpt:


Platt, in strongly worded comments, said the entire process since last summer has been driven by “utter incompetence.”

“Proponents of the takeout increase used flawed revenue projections saying there was little or no elasticity between takeout and handle,” Platt said. “They argued handle would remain the same, enabling purses to increase dramatically, and that field size would go up as a result of the increased purses—in turn generating increased handle and revenue. Of course none of that happened.

Excerpt:

“We told them exactly what would happen beforehand, and then watched it play out almost exactly as we called it.”

[jelly]

“Look, nobody wants a price increase for anything, gas or anything else,” TOC chairman Jack Owens said. “Nobody wants an angry fan. But you have to balance these things as best you can for the sake of the overall health of the business.”


Last I checked Jack gas prices go up and down.When was the last time takeout came down?


Keep up the BOYCOTT everyone and spread the word.

[Charli125]

I think my favorite TOC statement was this one: "It was a coalition. (The legislation) was supported by every major racing interest in California."

Right, every major racing interest except for the people that, oh I don't know, actually pay for the purses.

The TOC and CHRB just continue spouting off nonsense.

[Stillriledup]

Originally Posted by jelly

“Look, nobody wants a price increase for anything, gas or anything else,” TOC chairman Jack Owens said. “Nobody wants an angry fan. But you have to balance these things as best you can for the sake of the overall health of the business.”


Last I checked Jack gas prices go up and down.When was the last time takeout came down?


Keep up the BOYCOTT everyone and spread the word.

Price increases and health don't seem to go hand in hand.

What other business increased prices and had 'newfound' health?

Anyone?

[jelly]

California horseplayer Andy Asaro, who attended the most recent meeting, said two individuals commented that 97% of racetrack customers don’t know about or care about takeout.


Andy,care to tell us who these geniuses are?

[Stillriledup]

Originally Posted by jelly

California horseplayer Andy Asaro, who attended the most recent meeting, said two individuals commented that 97% of racetrack customers don’t know about or care about takeout.


Andy,care to tell us who these geniuses are?

I thought originally it was 99%....they've come down a few pegs!

As far as 'conciously' caring about takeout or even knowing about takeout doesnt mean as much as the player just physically having less money in his pocket to churn. So, the guy who says "i dont care about takeout' will just be betting less and even if he doesnt realize it, it doesnt matter because there's less money going into the pools.

[Charli125]

Originally Posted by jelly

California horseplayer Andy Asaro, who attended the most recent meeting, said two individuals commented that 97% of racetrack customers don’t know about or care about takeout.


Andy,care to tell us who these geniuses are?

If I recall, it was Chariman Brackpool and Vice Chairman Israel.

[Stillriledup]

Originally Posted by Charli125

If I recall, it was Chariman Brackpool and Vice Chairman Israel.

Higher takeout = More fun!

http://www.paceadvantage.com/forum/s...ight=brackpool

[Charli125]

The quotes in this article are unbelievable:
http://www.drf.com/news/hollywood-park-raising-purses

“We were conservative with our projections,” Liebau said. “We have done better than expected, and we have an opportunity to increase purses in the last weeks of the meeting. The purse increase is a benefit to Hollywood Park and horsemen.”

Really, down 14% is better than expected? What the hell did they expect?

The decision to increase purses was taken after consultation with the Thoroughbred Owners of California, which must authorize purse distributions in the state. “We’re very appreciative of the action that Hollywood Park has taken and we fully support it,” the owners’ group’s chief operating officer, Guy Lamothe, said Thursday.

Of course it was supported by the TOC. Why not a quick thanks to the players that pushed the P5 through DESPITE the TOC's objections? Nope, we're going to raise purses again since it's been such a resounding success so far.

Liebau said business in the last two weeks was better than the early weeks of the meeting, but said that all-sources handle remains down by 5 percent from the 2010 meeting.

Wrong again. It's down 14% or 37.8 million dollars per CHRIMS data. At least be honest with us.

[Stillriledup]

Originally Posted by Charli125

The quotes in this article are unbelievable:
http://www.drf.com/news/hollywood-park-raising-purses

“We were conservative with our projections,” Liebau said. “We have done better than expected, and we have an opportunity to increase purses in the last weeks of the meeting. The purse increase is a benefit to Hollywood Park and horsemen.”

Really, down 14% is better than expected? What the hell did they expect?

The decision to increase purses was taken after consultation with the Thoroughbred Owners of California, which must authorize purse distributions in the state. “We’re very appreciative of the action that Hollywood Park has taken and we fully support it,” the owners’ group’s chief operating officer, Guy Lamothe, said Thursday.

Of course it was supported by the TOC. Why not a quick thanks to the players that pushed the P5 through DESPITE the TOC's objections? Nope, we're going to raise purses again since it's been such a resounding success so far.

Liebau said business in the last two weeks was better than the early weeks of the meeting, but said that all-sources handle remains down by 5 percent from the 2010 meeting.

Wrong again. It's down 14% or 37.8 million dollars per CHRIMS data. At least be honest with us.

Be honest with us?

They're not even honest with themselves....they're certainly not going to be honest with us.

[jelly]

Originally Posted by Charli125

The quotes in this article are unbelievable:
http://www.drf.com/news/hollywood-park-raising-purses

“We were conservative with our projections,” Liebau said. “We have done better than expected, and we have an opportunity to increase purses in the last weeks of the meeting. The purse increase is a benefit to Hollywood Park and horsemen.”

Really, down 14% is better than expected? What the hell did they expect?

The decision to increase purses was taken after consultation with the Thoroughbred Owners of California, which must authorize purse distributions in the state. “We’re very appreciative of the action that Hollywood Park has taken and we fully support it,” the owners’ group’s chief operating officer, Guy Lamothe, said Thursday.

Of course it was supported by the TOC. Why not a quick thanks to the players that pushed the P5 through DESPITE the TOC's objections? Nope, we're going to raise purses again since it's been such a resounding success so far.

Liebau said business in the last two weeks was better than the early weeks of the meeting, but said that all-sources handle remains down by 5 percent from the 2010 meeting.

Wrong again. It's down 14% or 37.8 million dollars per CHRIMS data. At least be honest with us.

Do you really want to give your hard earned money to these people?
Think again before you bet Cal.racing.

[andymays]

TOC says it has nothing to hide at open forums | Daily Racing Form

http://www.drf.com/news/toc-says-it-...de-open-forums


Excerpt:

Right. And tax cuts for upper income brackets create jobs. It is clear by now that the takeout increase was an impossibly tough sell from the beginning. Shared sacrifice was never mentioned. What the increase did, if anything, was provide a shaky plug in a leaky dike that lit a public relations nightmare. It is the heat from that PR nightmare the TOC forum hopes to cool, because − and this is no news flash − with the exception for a few betting packages like the Pick 5, the takeout isn’t going anywhere south.

[Charli125]

"What we’ve found is that field size is the major, major component of handle, and everything that can be done must be done to increase field size,” Koch said. “Everyone’s seen the foal crop numbers. We just don’t have the horses."

Wrong, again. They're down .17 horses per race this year at Hollywood(2%). Yes, it has an impact on handle. No, it is not the major, major component of handle. I'd love to hear how they, "found out", that fieldsize is the major, major component of handle.

I wonder what the takeout was on the trifecta of stupidity that CA hit today with their comments on the Hollywood purse increase, TOC has nothing to hide article, and the Bloodhorse article.

[jorcus]

Originally Posted by Stillriledup

Price increases and health don't seem to go hand in hand.

What other business increased prices and had 'newfound' health?

Anyone?

Sunglasses!

[jelly]

Well,at least we know where Jay Hovdey stands politically.



“When I first heard about the takeout increase I said, ‘Man, this ain’t the time for that,’ ” said Mike Pegram, who made his fortune in McDonald’s franchises. “But sometimes it’s a matter of survival. I’m in a very price-sensitive business, and I never raise prices until I have to. This was a matter of survival.”



Follow up question.When is the right time to increase takeout Mike?




If parimutuel takeout is raised, purses will increase. When purses increase, more owners will be inclined to continue owning and racing horses. When that happens, field sizes will increase, and the betting on those larger fields will increase, which will result in larger purses. Then, eventually the national economy will turn around, and takeout can be lowered to previous levels.