Thoroughbred Times
bookmark this page subscribe RSS twitter facebook
Subscribe to Thoroughbred Times

LOG IN TO THOROUGHBRED TIMES

 
Need to reset your password?
 


Don't miss the deadline!

Sign up now for the Freshman Sire Contest presented by Markel and Thoroughbred Times

Chance to win cash prizes for picking leading freshman sires in 2012

To sign up and enter your Stallion Barn, click here.

  • Strut the Stage sire of Head Honcho 1st Alw (May 23, 7th WO). Owner, Annecchini and D'Alimonte Holdings Inc. and Kingfield Farm; Breeder, William D. Graham...
  • Petionville sire of Wups 1st Thoroughbred Maiden Derby (May 23, 9th BOI). Owner, Paul Treasure; Breeder, Michael Iavarone...
  • Mancini sire of Ride Around Sally 1st Alw (May 23, 6th IND). Owner, Joe Uliano; Breeder, Spade Stable...
  • Hard Spun sire of Ribbon Taffy 1st Mdn (May 23, 5th IND). Owner, Pucek, John Paul and Marcinek, Paige; Breeder, Matthew R. Herbener...
  • City Weekend sire of City Sweets 1st Mdn (May 23, 3rd IND). Owner, Mast Thoroughbreds LLC; Breeder, Robert Gorham & Mast Thoroughbreds LLC...
  • Hard Spun sire of Gleaning 1st Mdn (May 23, 4th PID). Owner, Robert T. Manfuso; Breeder, Nursery Place & Robert T. Manfuso...
  • Yankee Gentleman sire of Little Dale 1st Alw (May 23, 7th BEL). Owner, Vaccarezza, Priscilla, Amante, Anthony and Garrity, Christine; Breeder, Philip Birsh...
  • Jazil sire of Love Me Good 1st Mdn (May 23, 2nd PID). Owner, Sheltowee Farm and Blazing Meadow Farm; Breeder, Sheltowee Farm...
  • Proud Citizen sire of Citizen Kat 1st Alw (May 23, 7th PEN). Owner, Midwest Thoroughbreds, Inc.; Breeder, Mark Reid & Charles Zacney...
  • Medaglia d'Oro sire of Dealer 1st Alw (May 23, 8th CT). Owner, Coleswood Farm, Inc.; Breeder, Family Broodmare, LLC...
  • Include sire of Window Boy 1st Grover (Buddy) Delp Memorial S. (May 23, 8th DEL). Owner, Luis Arenas; Breeder, Shelby Lane Farm Inc. & IncludeSyndicate...
  • Philanthropist sire of Rob the Cradle 1st Alw (May 23, 2nd WO). Owner, Andrews, Denny and Paradox Farms Inc.; Breeder, Gardiner Farms Limited...
  • Posse sire of Parody 1st Alw (May 23, 4th PEN). Owner, Midwest Thoroughbreds, Inc.; Breeder, Don Mattox & Pam Mattox...
  • Bustin Stones sire of Bustinattheseams 1st Mdn (May 23, 2nd BEL). Owner, Bourque Goldstein Thoroughbreds LLC; Breeder, Eaton & Thorne, Inc....
  • Luftikus sire of Joyful Kiss 1st Alw (May 23, 7th CT). Owner, Winfred L. Hess, Jr.; Breeder, Ann M. Casey...
  • Indian Charlie sire of Nechez Dawn 1st Alw (May 23, 7th AP). Owner, Tresner, Coby and Matsas, Alex; Breeder, B. P. Walden Jr., Hargus Sexton & SandraSexton...

NEWS

E-Mail this articlePrint this article

Industry News bullet



Most Popular Stories bullet

Most E-mailed Stories bullet

Live racing boosts slots handle in Iowa

Posted: Tuesday, December 09, 2008 5:14 PM

by Ed DeRosa

Expanded gaming at racetracks has not helped the business of Thoroughbred racing from a handle or breeding standpoint in Iowa, but live racing does help handle on slot machines at Prairie Meadows Racetrack.

That handle on slot machines likely comes at the expense of handle on Thoroughbred racing. However, because of the way revenue on slots supplement purses, horsemen make more money when people increase their betting on slots than they do when they bet on horses.

“The increase in slot handle offsets the money for purses lost with decreased handle on racing,” Richard Thalheimer said of a report his Thalheimer Research Associates completed for the Iowa racing industry. “The increase in slots play during live racing [at Prairie Meadows] meant $7-million more for purses.

“If it weren’t for pari-mutuel wagering then slots handle would be less. That wasn’t the purpose of legislation, but it’s what happened.”

Thalheimer made the comments during a session on the impact of racinos on racing at the 35th annual Symposium on Racing and Gaming in Tucson, Arizona

One of the criticisms of expanded gaming at racetracks is that money from slots is not spread out evenly enough. In Pennsylvania, slots revenue goes to purses and breeder funds.

Ed Martin, president of the Association of Racing Commissioners International Inc., asked Kevin Kile, gaming operations liaison for the Pennsylvania Gaming Control Board, why money does not go to regulating the sport.

“There’s more racing opportunities in Pennsylvania, but not more money for regulators,” Martin said of two new racetracks that have opened in Pennsylvania since the advent of slots in the Keystone state.

Kile did not have an answer for Martin and noted that there were not any Pennsylvania regulators in the audience.

“That’s because they’re banned from out-of-state travel,” Martin said. “A lot of racing has benefited, but other areas have been left at the gate.”

Takeout is another area that has not improved since tracks began to offer expanded gaming. Pennsylvania, which approved slots in 2004, retains 30%-31% on trifecta wagering, which is the highest in the nation.

Kile did not respond to a comment citing those figures, but Thalheimer said that he has been a longtime advocate of reducing takeout in racing.

“Racing isn’t competitive with other forms of gambling,” Thalheimer said. “For 20 years, I’ve been preaching lower takeout. It’s too high.”

Ed DeRosa is news editor of Thoroughbred Times

E-Mail this articlePrint this article