Keeneland cutting purses

[RoadToad]

Thank you, David Williams!

LOUISVILLE, KY (WAVE) - Churchill Downs responds to reports that Keeneland is cutting its purses for the fall meet by $1 million.
Kentucky horse tracks continue to complain about shrinking purses, even after losing the battle in the General Assembly for expanded gaming, where proceeds would have gone to increase the purses.
"We'll continue to pursue favorable legislation and hope for the best," said Darren Rogers of Churchill Downs.
A jockey said he thinks the trainers, who can't pick-up and leave as easily, will have the hardest time with shrinking purses.
"We're able to travel wherever the money is better," said Francisco Torres of himself and other jockeys. "We can pickup and go. As far as the purses being reduced, the horsemen are the ones who get hurt by it."
A Churchill Downs spokesperson says the economy has hit them as well. The track is running an average of 7.7 horses per race which is down from previous years.
The historic track continues to look at new sources of revenue, which is why it added night racing and is opening to other events like the upcoming music festival Hullabalou.
On the last day of night racing, an estimated 32,000 were at the Downs.

[Tim_T]

When I go to the Cumberland River or Dale Hollow I purposely avoid spending money in Burkesville while that idiot is in office!

[Grumpy]

I do not like Casinos, slots, Bingo, etc, but I will never understand why people and the Legislator are against having them in KY when the surrounding states have them and take all the money that KY could have.

It is similar to Hardin County (where I live) being dry for so many years while nearby counties were wet. I constantly heard that if the County were wet then the DUI rate would go up; there would be more public intoxication; more car accidents; more spouse abuse; and on and on. Well they finally allowed alcohol in restraurants and guess what, hardin County and it's cities are now getting the tax money that used to go elsewhere. Besides that the DUI, drunks, abusers, etc all WENT DOWN. Why because people could get a drink right down the street and not have to drive 10 to 50 miles or more to get it and then drive home drunk. They could just have a couple of drinks and didn't need to tank up so they were less argumentative, etc. All in all, its a plus for everyone, especially the coffers in the county. I am sure it will be the same for gambling.

Grumpy

[elnutsmalljaws]

Kentucky had BETTER get some sort of casino in this state and QUICK to help save the horse racing industry. Mountaineer park and Hoosier Park are just a couple of tracks in bordering states that has casinos and casino money adds to the horse track money to make purses larger. Larger purses attracks more horses and owners, bigger fields, better wagering opportunities, which increases the amount of money wagered, increases the total takeout, which adds to purse money and around and around it goes. When a $5,000 Claiming race at Mountaineer Park has purse money of $9800 and the same race at Hoosier Park has a purse of $10,000 but the same race at Turfway Park only has a purse of $6600, then more and more horsemen will take their horses to other states and race. Think about it, the difference of $3000 in purse money when 60% is paid to the winning horse comes to about $1800 additional dollars PER race for the winning horse owner. That $1800 is a lot of hay and covers a lot of training fees, barn fees and other expenses. The claiming race game is the meat and potatoes of horse racing for there are far more claiming races ran every day than allowances, stakes and graded races. The claiming horses and owners are what keeps the industry running. We may live in the BLUE BLOOD state when it comes to Horse Breeding but more and more horses that leave this state and race in others is more and more chance of them being kept in those states breeding sheds later in life. After several years and then you will see some horse farms closing in Central Ky and lost jobs. Hoosier park is raising purses 12%, tracks in Kentucky are lowering purses, Churchill Downs are averaging 7.7 horses per race, which does not promote any betting interest, which lowers handle, lowers takeout, lowers purses, causes more horsemen to take their horses to other tracks, and it is a never ending cycle. The horse industry is in MAJOR trouble and has been so for many years. Until there is ONE governing body that regulates the industry for EVERY state - WHICH IS STEP ONE, then it is just like running in quicksand.

[mhall]

When I go to the Cumberland River or Dale Hollow I purposely avoid spending money in Burkesville while that idiot is in office!

I agree David Williams is a complete and total idiot. I wish we could all know the real reason he has blocked any measure to help the horse racing industry in our state??? He's probably getting his greasy pockets lined by out of state venue's wanting Kentucky to stay at status Quot.

[eddie_m]

I've got mixed feelings about this. First, Kentucky = horses & racing. Any detriment to racing is a detriment to the state [Same for the bourbon industry]. However, why should the state pass laws effectively promising these for-profit businesses extra profits? If we are to have casinos, which I support fully though I don't go to them (too cheap), why should the tracks automatically get them? If I owned a track that was hemoraging money and the KY legislature passed a law saying that I could now operate a casino, I would fund the track as little as possible so I could invest in the casino. Don't forget that the track was the function losing money. Why invest in a losing operation if congress gives you a license to print your own money? Of course, the casino's increased foot traffic would bring more funds to the horse racing by default.

As I said, mixed feelings, but I support it. If you're against casinos, don't go.

[Chubminnow]

I'm not a fan of Williams but when I'm in Burkesville I don't mind spending my money there cause I know lots of folks down there could use it.

[elnutsmalljaws]

I've got mixed feelings about this. First, Kentucky = horses & racing. Any detriment to racing is a detriment to the state [Same for the bourbon industry]. However, why should the state pass laws effectively promising these for-profit businesses extra profits? If we are to have casinos, which I support fully though I don't go to them (too cheap), why should the tracks automatically get them? If I owned a track that was hemoraging money and the KY legislature passed a law saying that I could now operate a casino, I would fund the track as little as possible so I could invest in the casino. Don't forget that the track was the function losing money. Why invest in a losing operation if congress gives you a license to print your own money? Of course, the casino's increased foot traffic would bring more funds to the horse racing by default.

As I said, mixed feelings, but I support it. If you're against casinos, don't go.

The way casinos in other states help the horse track part of it is the casinos sets aside a part of the profits and puts it towards the purse money structure of the track. The casino does not just pay for the tracks shortcomings, but it helps the track give bigger purses, which attract bigger fields and better betting opportunities. The better betting opportunities in turn increase the handle at the track and the "takeout" from the handle pays for the track. As far as casinos in KY goes, just like other states, the horse racing industry would NEVER support any casino games that is not tied to horse track help because casinos are way more popular than horse gambling. I think the only reason the Red Mile in Lexington is still around and not a bunch of apartments is they are holding out for VTL's, Video Terminal Lottery machines.

[Tim_T]

The way casinos in other states help the horse track part of it is the casinos sets aside a part of the profits and puts it towards the purse money structure of the track. The casino does not just pay for the tracks shortcomings, but it helps the track give bigger purses, which attract bigger fields and better betting opportunities. The better betting opportunities in turn increase the handle at the track and the "takeout" from the handle pays for the track. As far as casinos in KY goes, just like other states, the horse racing industry would NEVER support any casino games that is not tied to horse track help because casinos are way more popular than horse gambling. I think the only reason the Red Mile in Lexington is still around and not a bunch of apartments is they are holding out for VTL's, Video Terminal Lottery machines.

What Woody said!

[know1]

I've got mixed feelings about this. First, Kentucky = horses & racing. Any detriment to racing is a detriment to the state [Same for the bourbon industry]. However, why should the state pass laws effectively promising these for-profit businesses extra profits? If we are to have casinos, which I support fully though I don't go to them (too cheap), why should the tracks automatically get them? If I owned a track that was hemoraging money and the KY legislature passed a law saying that I could now operate a casino, I would fund the track as little as possible so I could invest in the casino. Don't forget that the track was the function losing money. Why invest in a losing operation if congress gives you a license to print your own money? Of course, the casino's increased foot traffic would bring more funds to the horse racing by default.

As I said, mixed feelings, but I support it. If you're against casinos, don't go.

I agree with this. How about the government letting me open a casino if my business isn't doing so well?

I'm not against casinos, just against how they're being proposed.