Kentucky racetracks continue to lead after reporting results from their most recent meetings.
Speaking at the January 31 Kentucky Purebred Development Fund Advisory Committee meeting, representatives of Churchill Downs, Keenelandand Race Park all reported that processors, starters and wallets all sources increased.
Churchill Downs’ September 2022 meeting saw its all-source processing grow 20% to $75 million, total runners up 165 to 17.4%, while most Bao increased 22% to $13.8 million from the September 2021 meeting. The most recent meeting was conducted with two additional race days from the previous year.
The fall race runs two fewer race days than the year before, and while starters are down 35 people from 2021, returns have increased more than 4% to $124.5 million and most Bags improved 3.3% to $20.7 million.
Keeneland’s fall meeting, which does not include Breeders’ Cup dates, set a record for settlements at $208 million, up from $181 million, a 15.5% increase. Keeneland’s vice president of racing, Gatewood Bell, noted that national control in October fell 4.9% while Kentucky rose 15%. Keeneland’s revenue on schedule increased 1.5% to $15.3 million from $15.1 million last fall.
Keeneland fall meeting starters increased from 2021
Starters rose 9.2 per race from 8.7 in the spring and the daily average was $1.16 million, plus 32% from the previous year’s $880,000.
Turfway’s 18-day holiday season, two days longer than 2021, saw revenue jump $5.1 million to $45.3 million. Average number of starters improved from 10 to 10.3 per race, and total purses increased from $4.6 million to $3.6 million.
The president of the Kentucky Horsemen’s Protection & Benevolence Association, Rick Hiles, called Turfway “the state’s next shining star.”
Turfway General Manager Chip Barnes said the track’s new warehouses are fully occupied and they will begin moving people into the new dormitory building on February 1. so we’ll take it.”
He said Turfway has also added a riders’ hall attached to the equestrian building. “Sometimes it’s almost too common, and that’s a good thing,” says Barnes.
Churchill Downs Senior Vice President and General Manager, Mike Ziegler, added: “We appreciate everyone’s patience. This is a brand new facility. There are still some growing difficulties. . Looking at the product on the track is the most important thing right now and we’ll get to grips with it depending on how it evolves with facility needs in the near future.”
Barnes did not elaborate but added that progress is being made on historic horse racing machines.
However, Barnes said it was trying to get the product’s attention at Turfway, but attracting attention on Saturdays has been problematic.
“We calculate that we’re losing between $600,000 and $1 million a day because we’re out of reach (FanDuel TV). A lot of people are very loyal to the brands out there. It’s hard to penetrate. enter that market. There’s more money in that market than at night,” he said.
In other congress bulletins:
* Churchill Downs vice president of finance Austin Schmitt said the track plans to run for two more days during the spring meeting due to cancellations from last year due to extreme heat. Racetrack has sought $9.5 million to $10 million in KTDF payments for the spring meet and is awaiting final approval from the Kentucky Equestrian Commission.
* Schmitt said of Derby City Gaming, “Derby City continues to do well. We’ve had good strength until the end of 2022… We have a lot of exciting things coming up for the hotel, the construction. We’re starting to add some machines with that expansion. We’re looking forward to the downtown facility in the second half of ’23.”
* Ben Huffman, race secretary for Churchill Downs and Keeneland, provided an update on Churchill Downs turf, which was not as stable as expected last summer, leading to races on the surface. restricted face. “Everything looks good,” he said. “There was a lot of good, positive development with the course last fall, in late fall… Between our race director, our consultants, we have an exhibition Positive outlook on spring encounter. We anticipate a return to normal, if you will.”
* Kentucky Downs has requested the transfer of $1 million in KTDF funds to Keeneland for the spring meetup. The commission has approved the transfer but it is awaiting a final decision from the KHRC.
* Keeneland proposed that they offer about $4.7 million to $5 million in KTDF funds during the spring meeting. This has also been approved by the KTDF committee and needs final approval by KHRC.
