Economic Indicators: Wagering Down Seven Percent To Kick Off 2023

Equibase, North American racing's official database, has released its January statistics for the industry's economic indicators, including field size, wagering, and other data.

January's metrics show a 7.19 percent decline in total wagering; with an increase in both races (4.3 percent) and race days (2.32 percent), average daily wagering was also down by 9.29 percent.

Purses continue to trend upward: there was a 9.70 percent increase in purses awarded over the first 31 days of 2023. That continues the trend from the end of 2022, which saw purses up 10 percent on the year for a record high total of $1,309,837,841.

Field size remains fairly steady thus far in 2023. January's figures saw the average field size at 7.73 starters, down just .33 percent from the same period in 2022.

Equibase is continuing to provide monthly reporting of its Economic Indicators Advisories as a service to the industry and in consideration of the economic changes resulting from the COVID-19 pandemic. The Advisory is typically disseminated on a quarterly basis to provide key metrics used to measure racing's performance throughout the year.

January 2023 vs. January 2022
Indicator January 2023 January 2022 % Change
Wagering on U.S. Races* $874,180,855 $941,934,680 -7.19%
U.S. Purses $90,069,945 $82,102,162 +9.70%
U.S. Race Days 265 259 +2.32%
U.S. Races 2,280 2,186 +4.30%
U.S. Starts 17,619 16,949 +3.95%
Average Field Size 7.73 7.75 -0.33%
Average Wagering Per Race Day $3,298,796 $3,636,813 -9.29%
Average Purses Per Race Day $339,887 $316,997 +7.22%

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

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National Museum Of Racing And Hall Of Fame Engages Next Generation With Innovative New Exhibits

In August 2017, on being named president of the National Museum of Racing and Hall of Fame, John Hendrickson summarized his vision for expanding the appeal of the 67-year-old Saratoga institution to a simple philosophy.

“It's not just our job to showcase history,” Mr. Hendrickson said that day. “We have to reach out and promote the sport. The museum has always done traditional things well, and we want to maintain the prestige of the place, but we have to go out and engage the next generation, which gets information through smart devices.”

That meant technology. And it meant thinking beyond the usual. Some five-and-a-half years later, even after closing for eight months in 2020 during the COVID-19 pandemic and for renovation – the National Museum of Racing has embraced the challenge with a steady stream of new interactive, more inclusive and unconventional exhibits, programs and partnerships that have broadened the appeal. And the strategy is working: 2022 attendance at the Hall of Fame was up 10 percent from the previous year.

“John really brought a lot of energy and wanted to be aggressive in turning the Hall of Fame into a destination where visitors came once a year if not once a season,” said National Museum of Racing and Hall of Fame Director Cate Masterson. “We'd ask people, 'When was the last time you visited the Hall of Fame?' And they'd say, 'Been there, done that.' It needed to change. We wanted to be a year-round destination.”

Visit the handsome red-brick building on Union Avenue – the one with the line of decorative jockey statues in front and across the street from Saratoga Race Course – and the change is apparent. The history of the game is there as always. So is “the new,” which, fortified by an updated website and a more prominent social media presence, creates a rich mix of offerings with, “a lot of freshness to it,” as a staffer put it.

“We're giving horse racing enthusiasts a reason to visit the Hall of Fame on a regular basis as opposed to every few years through updating our exhibits more often, new events, and expanded programming,” said National Museum of Racing and Hall of Fame Communications Director Brien Bouyea. “And we're building a fuller schedule of year-round events to draw the non-racing or more casual fans. As John presented his vision, we took it as a real opportunity to reinvent ourselves.”

New offerings include the introductory 16-minute film, What It Takes: Journey to the Hall of Fame, narrated by Bob Costas, which conveys the exhilaration of the sport, the passion behind its heritage and some of the stories of “what it takes,” as the title suggests, to be among the best of the best in the Hall of Fame.

Filmed and produced by Donna Lawrence Productions, the film highlights Hall of Famers from Javier Castellano and Angel Cordero, Jr. to Pat Day, D. Wayne Lukas, Shug McGaughey, Bill Mott, Mike Smith, Gary Stevens, and John Velazquez, among others.

Even the theater itself has been upgraded, with the film screen dropping from the ceiling and viewable from theater-in-the-round seats. The old Hall of Fame gallery itself is different as well with nine interactive stations featuring in-depth digital plaques for each of the 470 Hall of Fame inductees, which replaced the plaques. The exhibit features more than 100 videos and 2,500 photographs.

There are several other examples:

Betting on America – The Immigrant Experience and the Hall of Fame: Opened last summer, the Hall's first bilingual exhibit chronicles the lives and impact on the sport of Hall of Famers born outside the U.S. The exhibit features interactive content, artwork, memorabilia and photography in telling their often-inspiring stories.

Educational Tours for Students: Introduced last month by Museum Educator Matt Reichel, the series of five 90-minute tours are ideal for teachers looking to enhance hands-on learning. Depending on the age, students get an up-close and personal tour of the Museum's extensive collection of equine paintings and sculptures, as well as an opportunity visit the archives to learn how museums preserve history. Grade-schoolers get a chance to draw their own jockey silks, examine horseshoes and sample racing on the simulator.

Race Day Gallery: This new exhibit features displays of the Paddock, Track, and Winner's Circle – giving visitors the three essential elements of a day at the races. From racing equipment, artifacts and graphics to images of some of the most striking paddocks and racetracks in the U.S., the exhibit showcases thoroughbred racing at its best. It also puts you “there” – with photo ops in the Winner's Circle and a soundtrack that adds detail and ambiance to the experience.

Call the Race: And you're off … with the opportunity to call some of the sport's most famous events just like a professional track announcer. With an introduction by legendary NYRA racecaller Tom Durkin, the exhibit gives you a chance to study the race's video before making the call and the digitally recorded call to take home.

At the Races with Saul Steinberg: Opened last month, the exhibition showcases the racetrack work of the late artist, famed for his quirky pen-and-ink drawings featured for more than a half-century in The New Yorker. Steinberg visited Saratoga Springs in 1952 on commission from Harper's to provide drawings for an article about the city, which is thought to have prompted his interest in Thoroughbred racing. “We are excited to exhibit the artwork of Saul Steinberg in a different light and bring together those with an appreciation of art as well as Thoroughbred racing,” said Museum Curator Jessica Cloer.

Still, other new projects blend the old with a twist of the present. The Hall recently announced a partnership with the U.K.'s Newmarket-based National Horseracing Museum on a social media content-sharing program focused on the international legacy of racing icon Paul Mellon. Starting in mid-April, the Hall and Newmarket will share educational content across platforms about Mellon's significant imprint on racing in the U.S. and the U.K. There will weekly posts, 10 in all, ending on June 11, Mellon's birthday.

Mellon is the focus of another partnership as well – this one with the Virginia-based Oak Spring Garden Foundation, which on Feb. 18 at Tampa Bay Downs will present a screening of the documentary film Mill Reef: A Legacy of Heart chronicling Mellon's legendary racehorse Mill Reef. Named English and European Horse of the Year in 1971 when he won the Epsom Derby, Prix de l'Arc de Triomphe, Eclipse Stakes, and King George VI and Queen Elizabeth Stakes, Mill Reef was bred in Virginia by Mellon and campaigned under his stables in Europe from 1970 through 1972. Overall, Mill Reef won 12 of 14 starts; he was trained by Ian Balding.

More exhibits and features are just ahead. On tap this spring is an exhibit on the 50th anniversary of Triple Crown-winner Secretariat, which will travel during the Triple Crown season to all three hosting venues – Churchill Downs in Louisville, Pimlico in Baltimore and Belmont Park in Elmont, N.Y. On the way are updates to the film, What It Takes: Journey to the Hall of Fame; and an exhibit of photos of the late NYRA photographer Bert Morgan, a 2022 inductee to the Museum of Racing's Joe Hirsch Media Roll of Honor. And this summer during the Saratoga meet, Tom Durkin will again lead gallery tours.

For Mr. Hendrickson, the many elements of the “reimagined” Hall of Fame are all in the cards.

“Our goal was to be the best sports Hall of Fame in the country and we sought out the best people in the country to achieve that goal,” he recently told NYRA TV. “I think we've accomplished our goal of being the best … and I'm very proud of this team.”

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Tickets Now On Sale For Historic Foxfield Races; Portion Of Proceeds Benefit Camp Holiday Trails

Albemarle County's signature Steeplechase racing event, the Foxfield Races return this spring on Saturday, April 29. Tickets are on sale now at foxfieldraces.com. Foxfield will once again partner with Camp Holiday Trails, a Charlottesville non-profit that provides camp experiences to children ages 7-17 with medical needs from Virginia and surrounding states. Camp Holiday Trails, which received more than $50,000 in proceeds from the spring 2022 races, will benefit from a portion of tickets sold and additional philanthropic support from Foxfield's corporate sponsors.

Foxfield has been hosting nationally recognized steeplechase races in the heart of Virginia for over 40 years, giving residents and visitors alike the opportunity to witness spectacular horse racing and enjoy the beauty of the countryside. In 1977, Mariann de Tejeda generously purchased the property for the Foxfield Racing Association and designed and built the race course. Today, the bi-annual races host upwards of 15,000 attendees and feature a strong field of horses and riders, live music, local food trucks and more. The fall races will take place on Sunday, October 1, 2023.

“We have many great corporate and business sponsors committed to supporting the Foxfield 2023 races and the preservation of open space,” said Foxfield Racing Executive Director Kelsey Cox. “We look forward to welcoming many new and returning attendees to support Foxfield's mission and in turn support Camp Holiday Trails.”

SCHEDULE AND TICKET INFORMATION

Tickets are on sale now with various pricing options available. General admission tickets start at $50 now through Friday, March 31 (prices increase to $65 on April 1). Free admission for children age 12 and under. Gates open at 9 a.m. and the first race begins at 12:30 p.m. For information on the schedule, pricing, parking and to purchase tickets, visit foxfieldraces.com.

WHAT'S THE EXPERIENCE LIKE?

  • Print at Home Ticketing makes purchasing additional last minute tickets easier. Wifi and connectivity at Foxfield is not strong, so make certain to print out your tickets for a speedier entrance.
  • Engaging in the races is the main event! Enter Foxfield's FREE TO PLAY game in the Stable Duel App. Learn about each horse, rider, and trainer. Pick 10 horses for your stable. Top winners share the $2,500 prize. Make certain to pick up a race program or head to foxfieldraces.com.
  • New Orange Entertainment Park welcomes all general admission ticket holders. Watch the race along the rail, or on a large video wall, listen to live music, purchase food and drinks from vendors like Bold Rock, Devils Backbone, Liquid Death, The Pie Guy, Popito's Pizza, Angelic's and others. Group tents in the New Orange are available for rent. Contact the race office for more details.
  • Alcohol policy for increased safety on race day: For each tailgating space (single car), the maximum amount of alcohol allowed is 2 fifths of hard alcohol, 3 bottles of wine, and 3 six-packs of beer/seltzer/cider. No alcohol from General Admission parking. Attendees in the New Orange section will not be allowed to bring alcohol in or out of the section, but those ages 21 and over can purchase beer, seltzers and more in the Entertainment Park.
  • Fully catered tents along the rail near the finish line for major sponsors who are making significant investments in Foxfield's revitalized mission.

FOXFIELD'S COMMITMENT TO COMMUNITY SUPPORT

Foxfield Races has given back to the local community from the earliest days, and its dedication to continuing the tradition is strong. Foxfield is committed to not only monetarily supporting its philanthropic partners after race day, but actively engaging in their programs and work throughout the year, celebrating and supporting their community work by amplifying their messages, and spreading their missions to a broader community. The Foxfield Races spring partner is Camp Holiday Trails, and fall partner is Habitat for Humanity of Greater Charlottesville.

ABOUT THE FOXFIELD RACES

The Foxfield Races conduct steeplechase racing in Albemarle County, Virginia, twice a year on property conserved under easement. The races are managed by the Foxfield Racing LLC as a subsidiary of the Garth Road Preservation Foundation, both not-for-profit 501(c)3 organizations. For more information and updated schedule details, visit www.foxfieldraces.com.

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Texas Casino Legislation Gives Licensing Edge To Racetracks

Texas State Rep. Charlie Geren (R-Fort Worth) on Friday filed House Joint Resolution 97 that would authorize casino gaming at seven destination resorts across the state and require license applicants be limited to racetrack associations or designees of those associations.

The legislation seeks to amend the Texas Constitution and give Texans the opportunity to vote on the issue this November. State Sen. Carol Alvarado (D-Houston) previously filed a similar resolution in the Senate.

“Polling over the last year makes it clear that more than 85 percent of Texans want the right to vote on this issue, Republicans and Democrats alike,” said Geren. “It is high time that the legislature listens to the voters and allow them to decide this issue.”

If passed and approved in a statewide vote, the casinos would be regulated by a newly created Texas Gaming Commission. Geren projects the casinos would create tens of thousands of jobs, billions of dollars in economic development through tourism, and billions more in tax revenue to state and local governments.

The bill calls for two destination resort casinos in both the Dallas-Fort Worth and Houston areas, plus one each in San Antonio, McAllen, and Corpus Christi metropolitan areas. Minimum investment in the Dallas-Fort Worth and Houston casinos is $2 billion each, with lower requirements for the other locations.

For each location, the bill requires initial license applicants be either a local racetrack association licensed on Jan. 1, 2022, or be an individual designated by a racetrack association. The three Class 1 tracks in the state are Lone Star Park in Grand Prairie (Dallas-Fort Worth area), Sam Houston Race Park in Houston, and Retama Park in San Antonio. The bill requires that any track that also secures a casino license maintain a number of live racing dates equal to or greater than the number of dates run in 2022.

Lone Star Park is owned by Global Gaming, a division of the Chickasaw Nation that operates Remington Park in Oklahoma City and the massive WinStar World Casino and Resort on the Texas border in southern Oklahoma – just 80 miles north of Lone Star Park.

Sam Houston Race Park is owned by Penn Entertainment, formerly Penn National Gaming, which also operates Retama Park.

Legalization of sports wagering is also included in Geren's bill, which states that it can only take place in a place and manner approved by the legislature. The bill calls for a 15 percent tax on gross casino gaming revenue and an unspecified tax on sports betting.

Text of House Joint Resolution 97

 

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