Goodbye Meadowlands! Gural? Luchento? NJSEA? Who is the moron?

[baconswitchfarm]

I have made over 100k the last four years betting harness only. I pray for the year I make 1.08 after rebates at the end of a year. Last year at m1 I bet around 500k. After rebate profit around 2.5 %. Now the meadowlands raises its host fee from 5% to 8% on my servicer. That increase results in the direct lowering of my rebate on their product. Should I try to adjust to this? That is the question. I certainly won't bet that much and be a loser for the year. I can simply spend that time and money on better priced products. This doesn't effect everyone , but pricing the biggest customers in the game out of your product won't help long term business either.

On another front , If anyone thinks Gural can save the meadowlands witout slots they should be in a mental ward. I enjoy reading the guys thoughts and he is certainly well meaning. In reality , his racetrack management includes two of the worst harness tracks in america. Low handle and awful racing product are what his businesses offer. Raceway and Lebanon have a better product than tioga and vernon. If I had a real estate business that needed saving I would pray for his help. A harness track , not so much.

[Rutgers]

Originally Posted by DeanT

I went to work today. We currently have 30 clients and we would like to make it 32, so we can grow. Simple.

It was never once discussed that we should raise prices 10%, drop back to 28 clients, even though we might make a few more bucks. That is not growth, it is long term suicide.

I do not know anything about your company so my comments may not apply to your company, but….

Why doesn’t your company drop prices 10%, maybe give your clients a rebate as well? Your business is sure to takeoff.

Of course, if your company has high fixed costs this might be a tad risky, because if the new customers don’t make up for the price reduction the quality of your product or service could decline (which would result in losing customers) or you could run into financial problems.

Or you may want to consider raising the price, especially if you have high fixed costs. You may lose a few customers at first, but I have a hunch most of your customers will stay, because your company probably provides a good product or service (or at least one a lot of people like, even if they do complain about in once in a while.) With the extra revenue you get you can improve your product and service, which will offer your clients a better value, to the point the initial customers you lost will come back along with new customers.

[DeanT]

Originally Posted by Rutgers

Why doesn’t your company drop prices 10%, maybe give your clients a rebate as well? Your business is sure to takeoff.

Many companies do just that who depend on churn and use it as a business strategy.

Of course, if your company has high fixed costs this might be a tad risky, because if the new customers don’t make up for the price reduction the quality of your product or service could decline (which would result in losing customers) or you could run into financial problems.

That is done through experimentation in perfectly competitive pricing and my and every company does that. If you have a job, yours does too. For racing it does not apply, because they still price where average cost equals price (or AC=P) not MC=P like you and me and casino's etc.

Or you may want to consider raising the price, especially if you have high fixed costs. You may lose a few customers at first, but I have a hunch most of your customers will stay, because your company probably provides a good product or service (or at least one a lot of people like, even if they do complain about in once in a while.) With the extra revenue you get you can improve your product and service, which will offer your clients a better value, to the point the initial customers you lost will come back along with new customers.

See answer two.

[Southieboy]

http://www.harnessracing.com/news/me...showontvg.html

[InsideThePylons-MW]

http://www.harnessracing.com/news/tr...dsnumbers.html

After five days of racing, total handle on the 2011 Meadowlands harness meet is down 19.5 percent. Last year the track enjoyed $3 million-plus handles on the first two Saturdays of the meet. This year handle hasn’t topped $2.5 million for a single card,

[pandy]

I didn't get into the initial conversation about this, but I've heard from two big bettors that they are betting less at the Meadowlands because their rebate has dropped.

[Robert Goren]

It is everybody's and every thing's fault but theirs and their overpriced product. Typical race track management thinking.

[Zman179]

Originally Posted by Southieboy

http://www.harnessracing.com/news/me...showontvg.html

From the link:

Racing From The Meadowlands will no longer air on SNY in 2011.

“SNY was a great business partner of ours and we appreciate their efforts and support of our racing in the past,” said Director of Simulcasting Sam Mckee. “We know how much fans enjoy the replay show and are pleased that Racing From The Meadowlands will continue airing on TVG in the New Year."

Brilliant. Time Warner Cable, which has a lock on the market in New York City (except the Bronx), does not carry TVG. Isolate it a little more, would ya?

[Zman179]

Originally Posted by pandy

I didn't get into the initial conversation about this, but I've heard from two big bettors that they are betting less at the Meadowlands because their rebate has dropped.

That's huge.

[badcompany]

IMO, there will be no summer meet at the Big M. Why? Two words: George Brennan. Last year's top Big M driver has decided to race full time at Yonkers where he will make about half in 2011 than he made at the Big M in 2010. Why would he do this other than that he sees the writing on the wall?