Bill Finley | Horse Racing Free Tips

With Legalization of Sports Wagering, Renewed Hope That Racing Will Return to Massachusetts

A compromise agreement on a bill authorizing sports betting in Massachusetts was reached Monday, which could be the final piece of the puzzle when it comes to horse racing returning to the Bay State. Behind the scenes, a group of investors has been working to open a new track in the state ever since Suffolk Downs closed its doors in 2019, but understood that their plans would not be practical without there being a source of revenue beyond what can be made off of selling bets. With sports betting about to become a reality in the state and with the bill granting sports betting licenses to anyone operating a racetrack, the group is prepared to move forward and plans to apply to the Massachusetts Racing Commission for a racing license some time this fall.

“When it comes to the project, sports betting has been the catalyst all along because there has to be some sort or of revenue source,” said Lou Raffetto, the former vice president of racing at Suffolk Downs who is advising the group, which calls itself Commonwealth Racing. “We all understand it's not going to come from just racing itself. They are very serious about this and the intent will be that by October we need to apply for a racing license.”

Suffolk Downs' days were numbered in 2014 when the track lost out on a bid to get a casino license. It remained open over the next five years, running short meets that were a requirement to retain its simulcast license. In 2017, the property was sold to HYM Investment Group, which is in the process of converting the land into a mixed-use neighborhood that will include 10,000 housing units.

Without any realistic hope that a Massachusetts Thoroughbred track could cash in on a casino, the sport appeared to be dead in the state, where racing dates back to 1935 when Suffolk first ran. But the principals behind Commonwealth Racing, Armand Janjigian, his wife Robin, and former Suffolk Downs owner Richard Fields, believed they could make this work. While having a sports betting license may not be as a lucrative as operating a casino, it could prove to be enough to make operating a track in the state feasible.

Raffetto said the investors are well beyond the kicking-the-tires stage.

“I've been working for them for well over a year and this is nothing new,” he said. “If you had any idea how much money they have already spent on architects and engineers you'd shake your head and you'd see that they are very serious. They wouldn't be going down this road if they didn't think it was a good business decision. They understand there will be a lot of competition in the sports betting market but they've already spent a lot of money. That's how I know this isn't pie in the sky. They are a lot of smarter than I am and they know what they are doling when it comes to a running a business.”

Their task has been made easier by the fact that the state is holding on to about $22 million that is earmarked for Thoroughbred purses, meaning track owners, at least initially, may not have to contribute much to the purse account. Even though there has not been Thoroughbred racing in the state for more than three years, the industry still receives a cut from slot revenues from Plainridge Park, a Standardbred track. The money keeps piling up.

“The money is there to at least get things going,” Raffetto said. “I am imagining a meet where purses will be similar to what we had at Suffolk toward the end for the festivals. I think we could easily be giving out a half-million dollars each racing day.”

Massachusetts has not had Thoroughbred racing for more than three years | Horsephotos

Raffetto said the group has yet to decide where to build a track, but said two locations are under consideration, both in the western part of the state. Finding a municipality that will allow a racetrack to be built within its borders has been an issue. Commonwealth Racing thought it had found its home when putting forth a proposal to build a track in Sturbridge. Zoning changes were needed to approve an agriculture and zoning overlay district to move the project forward, but, last October, Sturbridge voters rejected a proposal that called for the building of a track and a community center.

“A month from now we will be ready to release the site,” Raffetto said. “We have found two places. Now it's matter of seeing what makes most sense. There are pros and cons to each one.”

The plan is to build a small facility that can comfortably hold 3,000 to 4,000 fans. Raffetto said building the track may cost about $60 million.

“A lot depends on the nature of the facility,” he said. “How big and ornate do you want the facility to be? Are you building permanent barns, are you bringing in barns that would be temporary structures set up just for the meet? If you are going to build a track from scratch, the building, the barns and everything else that goes with it, it probably would end up costing you $60 million for a simple structure. Does it mean that's what we will spend? It could be. Some of the estimates we've gotten have been greater than that. It really depends on the location. It could be $50 million, it could be $90 million. We want a first-class facility, don't get me wrong. But we want something that makes sense in this day and age.”

There is a glut of racing already operating in the Northeast and the horse population shrinks every year, which could make it hard for a new Massachusetts track to find enough horses to put on a show. With that in mind, Raffetto said the plan is to run a short meet, most likely in the fall. In addition, there will be just one racing surface–a grass course.

“Racing the way we knew it, with a track running for 100 or more days, well, the horse flesh is just not there to do that,” he said. “You have to keep it special. Those festival meets we did at Suffolk worked. We're trying to make this more of a festival-type thing rather than an everyday humdrum-type operation. We will have one course–a wide turf course where we can have two or three positions for the rail. Trainers want to run on the grass.”

As far as when the proposed track, which does not yet have a name, might open, Raffetto said it will happen “sooner than a lot of people might expect.” One possibility, he said, is that racing could get underway before the stands are built.

“It wouldn't be something like three years out,” he said. “Who knows? It could wind up being next year.”

Racing isn't expanding. It is contracting. Just last year alone the sport lost Arlington Park and Calder and several tracks are being kept alive only so that their owners can keep their casinos. Can a new track, far removed from a major city, one where the owners have no expectations of profiting from a casino, make it? It won't be easy, but in Massachusetts they appear ready to give it a try.

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NYRA, Fox Sports TV Analyst Andy Serling Talks Saratoga On Writers’ Room

With the first week of the 2022 Saratoga meet in the books, NYRA and Fox Sports TV analyst Andy Serling joined the TDN Writers' Room presented by Keeneland Tuesday as the Green Group Guest of the Week to talk about how Saratoga somehow continues to exceed its sky-high expectations, what track trends handicappers should look out for the rest of the summer, whether or not the sport needs fewer stakes races and more.

“I'll be honest, I came into this meet concerned [about a drop in business], and I think rightfully so, because our numbers were so spectacular last year when you're up 13% like we were,” Serling said when asked to explain Saratoga's continued growth. “I was shocked how much we were up [opening week]. Saratoga, even as we expanded, always sort of stayed the August place to be. It was a little quieter when the meet started and the last week, especially when you're into September, can get quieter. I'm wondering now if it's starting to matter less and less. This weekend was incredible, huge crowds, the handle numbers were great, the racing was also terrific. We averaged almost 10.5 horses per race on the inner turf. We were up about three-quarters of a horse over last year. So all the stars aligned, the racing was great, and the love for Saratoga keeps growing and growing. And maybe it's that once somebody comes to Saratoga, they never stop coming back. And over the years that's just going to build and build and build.”

The conversation turned to the increasingly redundant racing calendar and the abundance of short fields seen in stakes races.

“It's 100% a problem. To suggest otherwise is to continue, as we love to do in racing, to keep our heads in the sand,” he said. “It's not just a problem in America, but it's a bigger problem in America. The purses shouldn't matter in these big races, because there's so much intrinsic value for stallions and broodmares. But there are too many races. We were trying to fill the Mother Goose, and it pains me to think of that as a race that will go by the wayside, because the winners of that race are a veritable who's who of the greatest horses that have ever raced in that division. But something has to give. I'm not blaming any of these tracks, but there's an Iowa Oaks, there's this Oaks, there's that Oaks. There are races everywhere and it's just giving people too many options. Whether it's the graded stakes committee, the boards, the racing offices, something has to be done, because there are just too many big races with small fields.”

Elsewhere on the show, which is also sponsored by Coolmore, Lane's End, the Kentucky Thoroughbred Owners and Breeders, XBTV, West Point Thoroughbreds and Legacy Bloodstock, the writers previewed a big weekend of racing, remembered the great Kitten's Joy and called for more meaningful sanctions for Paco Lopez's reckless riding. Click here to watch the show; click here for the audio-only version or find it on Apple Podcasts or Spotify.

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Stanley Cup Champion Erik Johnson Joins Writers’ Room

As far back as he can remember, and that includes 15 long years and over 900 career games in the NHL, defenseman Erik Johnson of the Colorado Avalanche has been chasing the ultimate dream of winning the Stanley Cup. A week and a half ago, Johnson, who also owns ERJ Racing over in our corner of the world, realized that dream, as his Avalanche took out the two-time defending champion Tampa Bay Lightning in six games in the Stanley Cup Final. Still glowing from that triumph, Johnson joined the TDN Writers' Room presented by Keeneland Tuesday as the Green Group Guest of the Week to describe the whirlwind he and his teammates have been on since last Sunday night, his plans to take the Stanley Cup to Del Mar for Pacific Classic day, his thoughts on the vastly improved safety of California racing and more.

Asked to compare his Cup victory to potentially reaching the mountaintop in racing, winning a race like the Kentucky Derby with ERJ, Johnson didn't mince words, saying, “I've never won the Derby, but I imagine this feels 1,000 times better. Because when you're an owner in the Derby, you're a spectator and you have no impact on what happens. When you're part of a team that wins the Stanley Cup, and you're actually out there doing it with your teammates, and it's something that you've put your whole life into since you were a kid, you can't top this feeling. It's just amazing, and I'm lucky because not a lot of people get to experience this. I've played with a lot of great players who never won.”

Southern California racing, mired in so many negative headlines during the rash of breakdowns at Santa Anita in 2019, has made–unfortunately–smaller headlines for a drastically improved safety record in the two years since. Johnson, who primarily races in California, was asked about the work California racing has done to correct such a dire problem.

“I think they've done a great job,” he said. “No matter what, you're not going to escape the negativity. There's always going to be someone that's upset. But seeing the statistics that have come out recently, there probably was a need for some reform and the leadership has done a really good job throughout the state. I think what's really helped is those pre-race checks. Every horse gets checked out, and I'm sure it makes some owners upset because some of their horses won't run after you've paid 30, 60 days worth of bills getting your horse ready to run, then they pull it out. But for the betterment and longevity of the game, those are things that needed to happen and steps that needed to be taken. So overall I think [California officials] should be commended. They've done awesome, and the game is now in a much better place than it was just a couple of years ago.”

Elsewhere on the show, which is also sponsored by Coolmore, Lane's End, the Kentucky Thoroughbred Owners and Breeders, XBTV, West Point Thoroughbreds and Legacy Bloodstock, the writers reacted to a weekend full of huge performances on the racetrack and Terence Collier's letter to the editor criticizing Bill Finley's argument for fewer stakes races. Click here to watch the show; click here for the audio-only version or find it on Apple Podcasts or Spotify.

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Letter to the Editor: Terence Collier

However the TDN looks upon itself introspectively, the daily readership of its North American content can probably deduce that without advertising revenues from the Thoroughbred breeding industry, it would be difficult for its publishers to put out such an excellent and comprehensive daily edition. The lead article in June 27th's issue by Bill Finley–“Do we really need so many stakes races?”–obviously comes from the writer's perspective more concerned with payoffs from exactas and trifectas than the majority of the TDN's readers.

Bill says, “The problem is obvious. There aren't enough horses and there are too many stakes.” He says, “the American Graded Stakes Committee hasn't done its job.”

His solution, all too glibly proffered by one with little skin in the breeding and owning game, is to throw out iconic races like the Mother Goose, the Hollywood Gold Cup and to take the knife to the NYRA stakes schedule. Simple answer, problem solved.

Hardly!

During my 43-year career with Fasig-Tipton, I attended many grading review meetings of the American Graded Stakes Committee (AGSC). Of all the alphabet committees that the Thoroughbred industry has spawned, I have never known a group of professionals more effective, more diligent or better-prepared than these unpaid guardians of our graded stakes system.

Let's take it step-by-step. It is a simple process to take the scalpel to the number of stakes races. There is currently a minimum purse requirement of $50,000 or $75,000 for a stake to earn the “black-type,” that will appear in a Thoroughbred's pedigree. The Thoroughbred breeding industry, with the assistance of TOBA, The Jockey Club and the Society of International Thoroughbred Auctioneers, monitors this system on a day-to-day basis to ensure black-type standards are correctly maintained. That minimum is reviewed annually and, with the dramatically improved purses everywhere at maiden and allowance levels, there is justification for a school of thought to raise the minimum. However, the consequence of, let's say, doubling the minimum, would eliminate a lot of stakes races from black-type, but would, at the same time, devastate the racing programs of second-tier racetracks, who rely on the “honor” of awarding black-type to encourage owners to stay or come into the game.

Anyway, that would be a meaningful debate. By tradition, the number of graded stakes should be an acceptable percentage of the total black-type races. The Graded Stakes Committee should be considering the “pyramid” created by total of all races on the bottom, to Grade I stakes on the top. The pyramid system is acknowledged by every recognized world-wide racing authority.

In my active years, the U.S. percentage was always far the lowest of any major international racing country, albeit, truthfully, because North America has an overwhelming number of total races. Each year I read in the TDN the annual report of the AGSC, which regularly features a consistent and regrettable number of downgraded or eliminated stakes races.

If those who currently sit on the AGSC are not maintaining the standards established by their predecessors, they should be open to question from anybody who cares about the quality and diversity of racing in North America, including Bill Finley. It is a simplification to say that, because our foal crop is well under 50% of its peak, we should slash the number of graded stakes.

Bill's example of short fields in such races as the 2022 GII Mother Goose is a fixable aberration, which, if seen repeated, will result in yet another downgrading of a race which was, until recently, an integral Grade I part of the Fillies' Triple Crown.

Bill's quoting the statistics of racehorses now running less than six times per year, half of what it was 20 years ago, is not caused by an excess of stakes-races. The blame for that, if blame is the right word, is squarely on the shoulders of trainers with divisions of high-class horses who feel that their win-to-runner percentage is inviolable. We have quality racing year-round in the U.S. We should incentivize trainers to run more frequently and penalize those whose runners fill a stall year-round and only show up at the racetrack every other month at most.

Don't do what we so frequently do in every walk of life–make a knee-jerk decision that wipes out decades or even centuries of racing history. Give Bill Finley back his full fields, his exactas and trifectas and the opportunity to experience an AGSC grading meeting. Perhaps he will appreciate the hard work this group undertakes to maintain the integrity and tradition of racing in North America.

Yours respectfully,

Terence Collier

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