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| April 2, 2010 Betting at the region's three horse racing tracks dropped more than 10 percent during the first three months of 2010 over the same time last year. Tracks in Ohio and Kentucky have trimmed or are considering cuts to their racing schedules as efforts to install slot machines or other betting alternatives to boost revenues have been thwarted so far this year. Cutting racing days reduces expenses, but can also boost average "purses" - the payout given to winning horses - because it concentrates more betting on the remaining live dates. Racing industry officials in both states have long sought to legalize slot gambling at racetracks, which is legal in about 30 other states. Broader gambling at other tracks has siphoned away the best horses and put Ohio and Kentucky tracks at a competitive disadvantage, the local racing industry says. Ohio racing advocates were dealt a new blow last week when Secretary of State Jennifer Brunner said voters should determine in November whether slots are allowed at the tracks. The legislature last year granted racetracks the right to install up to 2,500 slots each, but the move was blocked by anti-slots interests that successfully pushed for the statewide vote. Tracks in Kentucky have lobbied legislators unsuccessfully for years to legalize slots or other gaming at racetracks in that state. A proposal to legalize slots at racetracks died in a Senate committee in early February. An effort to legalize "instant gaming" - a game that allows gamblers to bet on unidentified replays of old races via a video terminal, also died in committee in late March. Meanwhile, new racetrack data shows that: Betting at Turfway Park in Florence - which just wrapped up a meet last week with the Lane's End Stakes - dropped 19.1 percent to $92 million, in the first three months of this year compared to the same time in 2009. President Bob Elliston said the racetrack has cut back live racing dates to cope with declining revenues. This year, the track has 82 days of live racing compared to 105 last year. He said the track will decide in September whether to cut dates further for 2011. "It's not a long-term solution," Elliston said, adding he will continue to lobby for slots next year. He said the track hasn't turned a profit since 2007. Wagers so far this year at River Downs in Anderson Township were down 12.3 percent to $7.3 million through March 27. General manager Jack Hanessian said he will ask horsemen as they arrive this week to agree to cut racing days from 102 in 2009 to 80 to 85 days this year. He said cuts are necessary to boost purses and attract enough horses to compete. "It's tough when purses are low and costs are high," he said. He added that he likely will seek a shorter schedule for 2011 when he submits plans to state officials in August. Hanessian said the track doesn't have many options, other than to hope for a favorable vote in November. Plans to build a slot parlor next to the track were put on hold when opponents sued and ultimately prevailed in obtaining the November vote. "It put a screeching halt to everything," he said. "Now we have to wait for a vote of the people." Lebanon Raceway has seen 2010 betting drop 13.4 percent to $7.1 million through March 27. Racing days in 2010 have been cut to 50 days from 62 in 2009. The track began racing in February that will stop in June and resume in fall. "It's very brutal - we're treading water," director of operations Mel Hagemeyer said. "There's not much we can do until the November vote." |
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