Hoosier Park and Indiana Downs both offer mixed breed racing. In a rare example of what co-operation and understanding between management and horsemen can do, meetings between tracks and the state’s four horsemen’s associations have produced a remarkable
approach to helping ease the financial burden of the tracks, which have produced $383 million in revenue in their first year of slots operation.
The horsemen’s share of that was $57.4 million. Indiana has a horsemen’s coalition that serves as an umbrella organization for the state’s harness, thoroughbred and quarter horse breed groups. Working with the tracks, they have agreed to a plan to help ease the weight of the huge $250 million license fee imposed on the tracks in the state.
Under the racino statute, horsemen are entitled to 15% of gross revenues in purses. They now have agreed to reduce that figure to 12% this year, 13% next year, 14% in 2011, and settle back at their 15% share in 2012.
The Indiana Standardbred Association, the state’s HBPA and the Thoroughbred Owners
& Breeders Association, and the Quarter Horse Racing Association of Indiana, all deserve credit for understanding the crushing weight placed on the tracks by the legislation that gave them slots.
Whether the cooperation will be sufficient to solve the tracks’ current economic problems remains to be seen, but it certainly is a positive step and a pleasant alternative to adversarial relationships elsewhere.
(Harness Tracks of America)
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