Finley @ ESPN: Good times are over

[joeydb]

http://sports.espn.go.com/sports/hor...ill&id=6099620

Excerpt: "The sport has had a nice run with slot machines, those gizmos that have fattened purses, made a lot of owners a lot of money and kept a dozen or so racetracks from closing. But the good times are about to end, and a lot sooner than you might have thought.


A system -- broke state governments allowing tens of millions in slots revenue to go to horse racing -- that could never last is starting to crumble."

[randallscott35]

Originally Posted by joeydb

http://sports.espn.go.com/sports/hor...ill&id=6099620

Excerpt: "The sport has had a nice run with slot machines, those gizmos that have fattened purses, made a lot of owners a lot of money and kept a dozen or so racetracks from closing. But the good times are about to end, and a lot sooner than you might have thought.


A system -- broke state governments allowing tens of millions in slots revenue to go to horse racing -- that could never last is starting to crumble."

Has to happen.

Smart businessmen like Carlino and the people who run Harrah's want that to end (charity case argument). So do Governors like Daniels. They are far more concerned with budget deficits and providing the children of their constituents with a decent education than they are with whether or not $5,000 claimers should be running for $20,000.

I can't find a roll-eyes smiley big enough for this nonsense.

[Clip-Clop]

Everyone seems to associate $ with education, the worst public schools in the country are the ones with the highest budgets. Throwing loot at a problem doesn't solve it, especially when the recipients have no idea what to do with it.

[Cannon Shell]

"And shouldn't some of the slots money have been used for something other than purses? Why not huge marketing campaigns or massive reductions in takeout? Have any Racinos invested in capital improvements for the racetracks and not just the slots parlors?"

Another example of the lazy journalism or just plain stupidity.

Finley acts as though the slot money is split solely between the purses and the state. So the tracks (which are usually the party that attends to marketing and capital improvements) shouldn't use their cut of the pie to increase their marketing budgets or improve their facilities? The state which reaps the benefits of slots with virtually no investment shouldn't contribute to racing via takeout reduction coming from their cut of the pie which is vastly diminished in importance with the onset of casino money?

While I agree it is incredibly short-sighted to not address the takeout, marketing and facilities, the idea that these are the responsibilities of the horseman is idiotic. The states have been handed billions of dollars over the years from racing and the tracks with racinos are making money hand over fist and they are only doing so because of horseracing.

Most owners are still losing money and the insinuation that we are running for "too much" money is usually made by those who have never actually had to pay to breed, raise or race a horse.

We all know that racing has done a terrible job setting itself up politically both nationally and on the state level. We all know that the contributions made by horseracing are routinely overlooked by politicians. We all know that most states are broke and desperate for cash. But the continued insinuation that the slot money that goes to purses somehow is wrong or bad for horseracing is based far more in idiocy and jealousy than fact or reality.

[freddymo]

Originally Posted by Cannon Shell

"And shouldn't some of the slots money have been used for something other than purses? Why not huge marketing campaigns or massive reductions in takeout? Have any Racinos invested in capital improvements for the racetracks and not just the slots parlors?"

Another example of the lazy journalism or just plain stupidity.

Finley acts as though the slot money is split solely between the purses and the state. So the tracks (which are usually the party that attends to marketing and capital improvements) shouldn't use their cut of the pie to increase their marketing budgets or improve their facilities? The state which reaps the benefits of slots with virtually no investment shouldn't contribute to racing via takeout reduction coming from their cut of the pie which is vastly diminished in importance with the onset of casino money?

While I agree it is incredibly short-sighted to not address the takeout, marketing and facilities, the idea that these are the responsibilities of the horseman is idiotic. The states have been handed billions of dollars over the years from racing and the tracks with racinos are making money hand over fist and they are only doing so because of horseracing.

Most owners are still losing money and the insinuation that we are running for "too much" money is usually made by those who have never actually had to pay to breed, raise or race a horse.

We all know that racing has done a terrible job setting itself up politically both nationally and on the state level. We all know that the contributions made by horseracing are routinely overlooked by politicians. We all know that most states are broke and desperate for cash. But the continued insinuation that the slot money that goes to purses somehow is wrong or bad for horseracing is based far more in idiocy and jealousy than fact or reality.

Slot money is like great sex it felt the best right before it was over..

[freddymo]

'Meanwhile, racing has done nothing to help itself, particularly when it comes to getting the dynamics of supply and demand to work again. Greatly reduce the total number of racing dates out there and the sport's financial outlook wouldn't look quite so bleak. But no one seems to want to do that, not when it's so easy to run bad horses for good money at Racinos.
'

I have frequently asked the question which tracks should reduce dates and or close. So far I have never heard any advocate of racing suggest which tracks should contract.

[randallscott35]

http://www.drf.com/news/slots-racing...der-new-attack

[Cannon Shell]

Originally Posted by freddymo

'Meanwhile, racing has done nothing to help itself, particularly when it comes to getting the dynamics of supply and demand to work again. Greatly reduce the total number of racing dates out there and the sport's financial outlook wouldn't look quite so bleak. But no one seems to want to do that, not when it's so easy to run bad horses for good money at Racinos.
'

I have frequently asked the question which tracks should reduce dates and or close. So far I have never heard any advocate of racing suggest which tracks should contract.

The idea that tracks closing will make things better is based on faulty logic.

Let's say Ellis Park, Turfway Prk, Mountaineer, Suffolk, Thistle/Beulah/River, Penn National and Prarie Meadows all close tomorrow. All are either on shaky ground or are operated by groups that probably wouldnt mind axing racing. Ok so please tell me how this makes racing better?

[PatCummings]

"Have any Racinos invested in capital improvements for the racetracks and not just the slots parlors?"

Philly Park has had plenty of years of not doing much, but I thought the first and third floors were well done in their remake and I think most players would agree with that assessment. I would call them some capital improvements.

[richard]

"Most owners are still losing money and the insinuation that we are running for "too much" money is usually made by those who have never actually had to pay to breed, raise or race a horse."

Ahmen. So Cuomo wants a 2.75% surcharge on purses in NY. You win a race, it does not mean you are turning a profit. What a shake down.
http://cityroom.blogs.nytimes.com/20...er=rss&emc=rss

[Cannon Shell]

Originally Posted by PatCummings

"Have any Racinos invested in capital improvements for the racetracks and not just the slots parlors?"

Philly Park has had plenty of years of not doing much, but I thought the first and third floors were well done in their remake and I think most players would agree with that assessment. I would call them some capital improvements.

How many racino's has Finley actually been to before and after?

Gulfstream has made the ultimate capital improvement.

[richard]

Tioga Downs was racing snowmobiles and had flea markets for crying out loud . Now it's a state of the art harness track with casino owned by Jeff Gural. And he resurrected Vernon Downs too. It's jobs jobs jobs.

[Clip-Clop]

Originally Posted by Cannon Shell

How many racino's has Finley actually been to before and after?

Gulfstream has made the ultimate capital improvement.

Couldn't agree more, that place is something. When we visit Florida, I no longer have to ask to go, she wants to go there.

[Travis Stone]

Originally Posted by PatCummings

"Have any Racinos invested in capital improvements for the racetracks and not just the slots parlors?"

Philly Park has had plenty of years of not doing much, but I thought the first and third floors were well done in their remake and I think most players would agree with that assessment. I would call them some capital improvements.

The entire building at Louisiana Downs was given a face lift when Harrah's came in. I'd hate to see what it would like if they didn't...

[johnny pinwheel]

face it, the good times were over the minute racing NEEDED slot money. someone asks how the closing of tracks will be helpful to racing....its simple there are too many tracks (supply) and not enough betting (demand) to make it worth it....thats why tracks count on this vlt money. i'm from the era when tracks did fine on their own merit and product.......NYRA originally wanted nothing to do with VLT's. the fact that tracks need this revenue shows there is a problem. economics is not rocket science....when the herd is too big, the weak will fall....thats just nature. racing will HAVE to streamline or ALL the tracks will be gone. the ones that survive will be stronger if this happens. With all the VLT action going on, eventually they will see the same fate....how many VLT centers can be built and survive...they will have an awakening too....many times MORE is not BETTER. the politicians don't see horse racing as "too big to fail" so don't hold your breath for a government bailout.