Friday, January 04, 2008

Maryland - 2007 Bad, 2008 looks worse!

The Maryland Jockey Club announced its total handle declined by 8% during 2007, with five fewer racing days. All sources of handle totaled $883.8 million as compared to $960.2 million from the same period in 2006. The daily average handle from all sources decreased 6.5 % from $4.1 million to $3.8 million.
This is bad, and it is only going to get worse. The MJC has already cut purses and racing dates in Maryland, while our bordering states have increased purses. Purses in Pennsylvania for 2008 are almost double that of a daily card in Maryland. In 2007 we saw a decline in horses entering the gate, and the quality of horses racing also declined. In November, Marylanders will have the opportunity to vote if they want slot machines in the state. If the vote passes, horse racing will get an enormous boost to purses and incentives. Will it be too late? Will anyone breed to a Maryland stallion in 2008 when you can get a 40% bonus in PA on already HUGE purses?

1 comment:

Phil J. said...

The racing quality and quantity has taken a big hit the last few years. The landscape today is much different than from even 3 years ago.


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