Handle drops 9.9%

[point given]

http://www.drf.com/news/article/109928.html


Nothing good to report in here as racing continues on its self destructive path.

[lamboguy]

Originally Posted by point given

http://www.drf.com/news/article/109928.html


Nothing good to report in here as racing continues on its self destructive path.

opening day gulfstream-----3 years ago---$16million last year $10 million this year $6.5 million.

it looks like the people that own the tracks are trying to kill the handle and product so tha they can get rid of horseracing and replace the horse with slot machines.

[Saratoga_Mike]

Originally Posted by lamboguy

opening day gulfstream-----3 years ago---$16million last year $10 million this year $6.5 million.

it looks like the people that own the tracks are trying to kill the handle and product so tha they can get rid of horseracing and replace the horse with slot machines.

I don't think they're doing that a GP. That last time I looked their win/day/machine was about $50, one-third or less of plan. Most casinos generate $200 to $300/day/machine in winnings. I think GP mgt actually removed some machines recently to try to improve the win/day.

[point given]

Originally Posted by Saratoga_Mike

I don't think they're doing that a GP. That last time I looked their win/day/machine was about $50, one-third or less of plan. Most casinos generate $200 to $300/day/machine in winnings. I think GP mgt actually removed some machines recently to try to improve the win/day.

you are right, they removed machines last year or the year before last. The dog track up the road and the harness track do much better with slots, as Gulstream has poor management and hasn't a clue; perhaps the new owners down the road will,but racing might take a further hit .

[rwwupl]

Originally Posted by point given

http://www.drf.com/news/article/109928.html


Nothing good to report in here as racing continues on its self destructive path.

Horseracing needs to clean up its act and put out an attractive product at a price that the customers want .

Slots are a mistake.The record will support that they are just another "crutch" . Horseracing does not need another crutch,they need to present a game that has integrity and is designed to please the public,not the recipients of the "Take".

[Moyers Pond]

10% is not that bad in this economy. The test will be when the economy rebounds. If the handle does not come back we are going to watch horse racing die off slowly.

[rokitman]

I'm sure everything will work out just fine if they just set up all parking lots with drive-thru slot machines.

[Horseplayersbet.com]

Originally Posted by Moyers Pond

10% is not that bad in this economy. The test will be when the economy rebounds. If the handle does not come back we are going to watch horse racing die off slowly.

Handles were flat at best during a good economy.

What I find to be telling is that tracks that recently raised their takeouts showed double the national average loss except Saratoga.

Calder, Aqueduct, Belmont, Pimlico and Laurel all lost close to 20% in handle.

The only two tracks that lowered the takeout for at least one type of bet showed gains (Woodbine and Tampa Bay). Though getting in the US racing form and TVG coverage as well as staying clear of signal disputes helped Woodbine out immensely over the 1.3% drop in their mile high triactor takeout.

[point given]

Originally Posted by Moyers Pond

10% is not that bad in this economy. The test will be when the economy rebounds. If the handle does not come back we are going to watch horse racing die off slowly.

Did you read the part about declining foal crops, short fields resulting in less handle in the future, with the recession over ?

[Horseplayersbet.com]

Originally Posted by point given

Did you read the part about declining foal crops, short fields resulting in less handle in the future, with the recession over ?

At today's current takeout levels, less racing will not cause total handle to shrink. Players tap out too quickly these days.
That being said, lowering takeout would make today's racing population totally sustainable.

The 10% drop in handle is more alarming considering that more and more existing players have wised up and shopped for rebates. Had this not been the case, handle could be down 15-20% for 2009.

[tzipi]

Originally Posted by lamboguy

opening day gulfstream-----3 years ago---$16million last year $10 million this year $6.5 million.

it looks like the people that own the tracks are trying to kill the handle and product so tha they can get rid of horseracing and replace the horse with slot machines.

I've been saying it all along. Slots and the casinos are NOT here to help racing,just there to take over the large and profitable land eventually and expand. They do not want a dying product that they have to bail out every day.