The purse account for Maryland racing is facing a $3 million shortfall for the remainder of 2007, officials said in a release. To make up for this, purses will be reduced by $2,000 at every level. In addition, they will also reduce the number of races during the remaining 78 live days this year. The stakes schedule will be reduced by $1 million, the release said. More details will be announced after the Maryland Racing Commission's July 17 meeting.
"We have been saying for a number of months that we were going to run into a problem with purses and we had to react to the situation at hand," said Maryland Jockey Club President and Chief Operating Officer Lou Raffetto in a statement.
At this point, slot machines would help, but we need a whole lot of things to turn this dying industry around.
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