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Economic Indicators: Average Daily Handle Stays Strong In August

Equibase, LLC released its monthly report on Economic Indicators in Thoroughbred Racing this Friday, Sept. 4. Due to the COVID-19 outbreak, Equibase is currently providing monthly reporting of its Economic Indicators Advisories. The Advisory is typically disseminated on a quarterly basis to provide key metrics used to measure racing's performance throughout the year.

Wagering on U.S. races dropped a bit in August 2020 compared to the same month in 2019, down 1.92 percent, but average daily handle continues to show year-over-year increases as the pandemic continues to wreak havoc on sports schedules. In August, average daily handle was up 13.50 percent in 2020 over the same period in 2019.

Year-to-date numbers show a similar trend, with average daily handle up 35.75 percent for the first eight months of 2020.

Since the Kentucky Derby has not yet been held, it will be interesting to see how much recovery the figure for year-to-date total wagering will make after this Saturday's Run for the Roses, even without fans in attendance. Currently, total annual wagering is down just 6.20 percent, which is already an improvement over last month's 6.96 percent difference.

August 2020 vs. August 2019
Indicator	August 2020	August 2019	% Change
Wagering on U.S. Races*	$1,154,522,663	$1,177,165,980	-1.92%
U.S. Purses	$104,515,752	$128,293,370	-18.53%
U.S. Race Days	445	515	-13.59%
U.S. Races	3,607	4,026	-10.41%
U.S. Starts	26,964	28,895	-6.68%
Average Field Size	7.48	7.18	+4.16%
Average Wagering Per Race Day	$2,594,433	$2,285,759	+13.50%
Average Purses Per Race Day	$234,867	$249,113	-5.72%

YTD 2020 vs. YTD 2019
Indicator	YTD 2020	YTD 2019	% Change
Wagering on U.S. Races*	$7,308,988,910	$7,792,183,885	-6.20%
U.S. Purses	$518,901,054	$775,638,076	-33.10%
U.S. Race Days	2,144	3,103	-30.91%
U.S. Races	17,793	25,225	-29.46%
U.S. Starts	140,022	185,746	-24.62%
Average Field Size	7.87	7.36	+6.87%
Average Wagering Per Race Day	$3,409,043	$2,511,178	+35.75%
Average Purses Per Race Day	$242,025	$249,964	-3.18%

* Includes worldwide commingled wagering on U.S. races.

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Kentucky Horse Council’s Virtual KENA Meeting: Hosting Equine Events During A Pandemic

The Kentucky Horse Council has announced it will host a virtual meeting on September 1 for the Kentucky Equine Networking Association (KENA). The topic for this meeting, presented by WesBanco, will be “Can You Make a Right Call? Equine Events During a Pandemic.” The meeting will happen on Zoom at 6 p.m. on Tuesday, Sept. 1, 2020. Registration is required.

Due to recent event cancellations in Kentucky, this topic is being presented to give exhibitors and participants a glimpse into the decision-making process that event organizers and facility managers are using to determine whether or not to proceed with their horse shows during COVID19. This virtual meeting will feature panelists who will discuss various factors that impacted their decision and the public reaction to their choices.

Anne Guillory, an attorney in the Louisville office of Dinsmore & Shohl, LLP, will discuss the legal issues an event organizer faces during a pandemic as well as the efficacy of waivers. Jen Roytz, Executive Director of the Retired Racehorse Project, will discuss the factors that led to RRP deciding to cancel the Thoroughbred Makeover scheduled for October 7-11, 2020. Justin Billings, Chief Show Officer of the American Quarter Horse Association, will discuss proceeding with the 2020 AQHYA World Show. Nicole Rivera, Sales and Event Manager for the Kentucky Horse Park, will discuss the challenges the international venue faces hosting events during this time.

“2020 has presented incredible challenges to the equine industry, most recently manifested in the cancellation of major horse shows and equine events in Kentucky,” Kentucky Horse Council Executive Director Katy Ross. “We believe this well-rounded panel will provide great insight to the decisions that have been made regarding cancelling or going forward with events due to COVID19.”

KENA is charged with the mission of providing an educational and social venue for equine professionals and horse enthusiasts from all disciplines. Organized by the Kentucky Horse Council, KENA provides the opportunity for attendees to share ideas, business strategies and knowledge, and to obtain up-to-date information on horse and farm management and on issues affecting the equine industry. KENA is made possible by the generous support of sponsors, including Dinsmore Equine Law Group, WesBanco, Neogen, University of Louisville Equine Industry Program, KESMARC Kentucky, and Equine Land Conservation Resources.

The September meeting is presented by WesBanco, a multi-state bank with offices throughout Kentucky. WesBanco is a generous supporter of the KENA dinner series.

The Kentucky Equine Networking Association welcomes all Kentucky horse owners, professionals and enthusiasts to participate in the July meeting.

For more information and to register, click here.

The post Kentucky Horse Council’s Virtual KENA Meeting: Hosting Equine Events During A Pandemic appeared first on Horse Racing News | Paulick Report.

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2020 AAEP Convention And Trade Show Goes Virtual

The American Association of Equine Practitioners announced today that the 2020 AAEP Annual Convention & Trade Show, originally scheduled for Dec. 5 through 9 in Las Vegas, NV, will take place instead as a virtual event. The ongoing COVID-19 pandemic and the potential safety risks to AAEP members, staff, exhibitors and others attending necessitated the move.

The newly envisioned AAEP Virtual Annual Convention & Trade Show will include many of the popular elements which have brought equine veterinarians together annually for nearly seven decades: peer-reviewed education; camaraderie with colleagues; and connection to Trade Show exhibitors from all sectors of the veterinary market.

The exact dates for December's Virtual Convention & Trade Show and the schedule of sessions and events will be announced in September. The educational program will offer a blend of live and on-demand sessions, ensuring practitioners can conveniently earn CE hours based on their personal schedules.

“The AAEP Convention is not only an educational experience but an important gathering for our close-knit community of Horse Doctors,” said AAEP President Dr. David Frisbie. “While we may not be together in the same city this year, the Virtual Convention promises to offer the connection that so many of us are seeking after the disruption of 2020.”

Registration for the Virtual Annual Convention & Trade Show will open in September and offer a different pricing structure than the in-person event. Those who have already registered for Las Vegas will be contacted by AAEP staff.

2020 American Eventing Championships Cancelled

The United States Eventing Association (USEA) and Equestrian Events, Inc. (EEI) have made the extremely difficult decision to cancel the 2020 edition of the USEA American Eventing Championships (AEC) presented by Nutrena Feeds. The USEA Board of Governors weighed every option, but ultimately voted not to proceed to host the national championships due to the health and safety concerns of holding a national competition during the COVID-19 pandemic.

“Canceling the AEC is devastating for so many who have worked so hard to get to this point,” said USEA CEO Rob Burk. “With riders coming from 41 states we could not ignore the geographic pull of this event and the implications of that. The immense amount of uncertainty caused by recent cancellations of similar-sized events at the Kentucky Horse Park weighed heavily on the USEA leadership.”

“If the AEC had moved forward, I am confident that our team led by EEI, Mary Fike, and the USEA Staff would have put on a spectacular competition in as safe an atmosphere as is possible. Ultimately though the inability to guarantee that the event wouldn't be canceled by regional governments or other authorities left too much uncertainty. By canceling before the closing date for entries we are hopeful that riders can reroute to their local events which desperately need their support and are working incredibly hard to hold safe events. Over the next month, the USEA Board of Governors will look into the qualifications for the 2021 AEC to see what can be done for those that worked so hard to qualify in 2020.”

“The USEA Board of Governors held a lengthy discussion tonight and it was not an easy decision,” added USEA President Max Corcoran. “We have full faith in EEI, the Kentucky Horse Park, and the competitors themselves that we could run a safe competition, but ultimately we voted not to proceed. It's the horrible decision of what we want and what is right. The AEC is a national championships with competitors coming from 41 different states, and it is not in the best interest of our members to host such a geographically diverse competition during a global pandemic. I am very sad that we are not having the AEC this year, but in these uncertain times, we wanted to make the decision as far out as possible in order for people to plan accordingly. Not hosting the AEC will be a financial hit for both the USEA and EEI, but in the end, it is the right decision ethically for the staff, volunteers, officials, and competitors. I look forward to cheering you all on in Kentucky in 2021!”

“While canceling the 2020 AEC was a difficult decision, we know that the health and safety of our competitors far outweigh any event,” said EEI Executive Director Lee Carter. “USEA, EEI, and Mary Fike recognize that 2020 has created challenges for many organizations. Our hope and expectation are that in 2021 we will be stronger than ever. Until then . . . on we go!”