A better product for the bettors, a better outcome for the sport. “A significant portion of the content that we provide is not on Grade 1 races –it’s races on Monday, Tuesday, Wednesday, Thursday, Friday, and most of the cards Saturday and Sunday,” Browning said.
“The problem is, we too easily sit back and go, ‘woe is me’, instead of looking at what we’ve done that works and go, ‘how do I capitalize off of that?’”
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“Ultimately, at some point as states need more revenue, they’re going to come after that money. We’ve seen it before in states like West Virginia and Pennsylvania, so if we don’t grow the betting part of our game and have other ways to directly monetize Thoroughbred racing – if we don’t tie up the connection between that and our product – we’ll always run the risk of state deference going in a different direction.
“That worries me, because in improving the game, a lot of racetracks and a lot of the industry is more focused on lobbying the state government and lobbying the federal government.
Phil has a question:
Have you ever seen a more apt description on how Horse Racing Alberta operates.
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CANADIAN RACING ACCOUNTABILITY PARTNERS YEAR IN REVIEW
2024 TRACK A thoroughbred handle ~ 22.4 million versus 22.6 in 2023 and 28 million in 2022. Breakdown mile 42 days @ 18.375 mil ,average 455k per day.
Downs 14 days @ 3.995 mil average 286 k per day.
Compare mile 2023 ,534k per day versus 455k in 2024, decline 80k per day
Compare downs 2023, 368k per day versus 286k in 2024, decline 80k per day
Numerous race day cancellations in 2023,lost revenue ~ % 4.5 mil handle
CENTURY 3rd financials per CEO call recording, DOWNS 700k drop in net revenue, due to effect of Ace Casino competition on operations.
MILE 100k decline in net revenue, due to extensive cost saving measures adapted by management, there was increase in profitability metrics.
HRA after 2 weeks of annual report buried in their website, they moved it to main body, with 60 hits in 4 days, shows the lack of interest for a document created April’s fools day and finally released Remembrance Day
FUTURE REVENUES with slots being 46 mil/51 mil total a 90% UCP pie,and status quo on remaining 5 mil hra generated revenue, neutral on projected $
HBPA plan for extensive marketing in 2025 to draw interest back in horse racing, with no financial gain projections, old saying you can bring a horse to water but to get him to drink it, will be a uphill battle, good luck horse industry