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New Jersey T-Bred Handle Way Up In 2010 Despite 50 Per Cent Cut In Race Dates

Published: November 22, 2010 1:24 pm ET

Last Comment: November 22, 2010 6:50 pm ET | 1 Comment(s) | Jump to Comments

After having slashed the number of thoroughbred race dates in New Jersey from 141 in 2009 to 71 in 2010, racetrack operator New Jersey Sports and Exposition Authority has announced that the almost 50 per cent date reduction has resulted in a $122.5 million increase in handle.

The 71 race dates all took place at Monmouth Park. Forty-nine of the dates comprised the 'Elite Summer Meet,' which, according to a report on brisnet.com, saw each race date average $797,079 in purses. The new format resulted in a massive increase in handle. The 22-date Monmouth Fall Meet concluded yesterday.

In 2009, the 141 T-bred race dates were split between Monmouth Park and the Meadowlands Racetrack, and, according to the brisnet.com report, total handle rang in at $354,867,156. In 2010, with nearly 50 per cent fewer race dates and racing consolidated at Monmouth, the total handle was $477,375,167.

"It's clear that concentrating thoroughbred racing at Monmouth Park proved a very wise investment," NJSEA President and CEO Dennis R. Robinson was quoted as saying. "Not only did we realize dramatic gains in all categories, we substantially reduced our operating costs by shifting all thoroughbred racing to Monmouth."

Robinson went on to say, "While in some instances it's difficult to compare the results of 2009 to 2010, one thing is certain -- less proved to be more. Our racing schedule along with the quality of our product resonated with racing fans from coast to coast. I hope it proves to be the cornerstone of a new racing model."

(With files from brisnet.com)

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November 22, 2010 - 6:50 pmFull fields of quality

Full fields of quality horses competing for big purses and the handle goes way up. Or better stated in economic terms, adjusting the supply to stimulate the demand. Thank goodness for the Ontario Slots program which allows our sport to survive despite a huge imbalance between supply and demand.


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