Just a very simple question Bernie and Gino


Just a very simple question Bernie
and G
ino. How do you explain the continued
plunge in March of nearly 10% in pari-mutuel wagering and Gulfstream Parks
record purse and handle? Save south Florida racing from what exactly? You keep
repeating the same stupid phrase yet never tell us the solutions.ginoslatestscratches.jpg

 

From the Daily Racing Form:

 

Handle in U.S. continues to
slide

 

By
Matt
Hegarty

 

Wagering on U.S. horse races continued to
plunge in March of this year when compared with the same month last year,
dropping nearly 10 percent, or $100 million, even as purses rose significantly
because of takeout increases in California and new casino subsidies in
Florida.

 

Wagering in March was $899.3 million,
down from $998.7 million in March of last year, according to figures released on
Monday by Equibase, continuing a long stream of month-to-month declines
affecting horse racing. The decline was exacerbated in part by a 4.2 percent
reduction in race days during the month.

 

Despite the declines, purses distributed
through U.S. races during the month rose 6.1 percent, from $73.8 million to
$78.3 million, according to the Equibase figures. The boost was almost entirely
tied to a 25-percent increase in purses distributed at California tracks because
of a takeout increase that went into effect on Jan. 1, and a new law in Florida
that has allowed tracks to retain a greater share of revenue from slot
machines.

 

Purses at U.S. racetracks are heavily
subsidized by slot machines, insulating the industry somewhat from the
precipitous declines in wagering handle.

 

According to the figures, through the
first three months of 2011 handle has declined 8.5 percent, from $2.79 billion
to $2.55 billion, while purses have increased 5.3 percent, from $194.3 million
to $204.7 million. Race days have declined 1.8 percent, from 1,048 to
1,029.

Advertisements
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s