Tag: The Biz

The 19^th season of horse racing at Zia Park in Hobbs, N.M., was a record-setting one on several fronts with new standards set for average daily handle, purses and safety on the racetrack during the 30-day mixed Quarter Horse/Thoroughbred meet.

An average daily handle of $830,371 was up 72 percent from the 48-date meet in 2022 to set a new track record and was the highest daily handle recorded by a racetrack in the state of New Mexico since 2010. Live handle was up an equally impressive 47 percent from 2022. Five of the track's 10 all-time highest daily handles were recorded in 2023 and all coming in the last 15 days of the meet.

Purses were a big reason in driving the average Thoroughbred field size to nearly nine horses per race (8.91) versus last year's 7.45 per race figure. Quarter Horse average field size was 9.03 horses per race. Average daily overnight purses totaled $344,067, both a track and New Mexico record. Total average daily purses, including stakes, was $432,767.

Racing safety also set records with only two racing catastrophic injuries the entire meet resulting in a rate of 0.74 per 1,000 starters – the lowest ever recorded for Zia Park and nearly 50 percent lower than the national average for dirt races as published by The Jockey Club's Equine Injury Database. There was one training catastrophic injury during training which began Oct. 1.

“From all metrics the meet was a great success – records set for wagering, purses and in safety as well,” said Lauren Barrows, vice president and general manager. “We thank all our guests, horsemen and racing participants and team members for having a part in delivering those impressive numbers.”

Meet leaders on the Quarter Horse side were James J. Gonzales, II (trainer), Noe Garcia, Jr. (jockey) and Elliot L. Bachicha (owner.)   On the Thoroughbred side, Todd Fincher won his third straight training title while jockey Luis Fuentes secured his second straight leading rider title. The leading Thoroughbred owners were J. Kirk and Judy Robison.

The post Zia Park Meet Ends With Big Increase In Handle, Excellent Safety Record appeared first on Horse Racing News | Paulick Report.

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Woodbine Entertainment announced Wednesday that the 2023 Thoroughbred season produced an all-sources handle of $613,125,180 CAD (US$460,325,188). This is the second largest single-season handle in Woodbine's history, but down $8 million from 2022.

“Our 2023 Thoroughbred racing meet produced very strong results thanks to our exciting racing product, the strength of the Woodbine brand, and the hard work of our team and the entire horse racing community,” said Michael Copeland, CEO, Woodbine Entertainment. “The results are especially encouraging considering the industry trends our sport is facing with increased competition from sports betting, growing purses in some jurisdictions largely due to ancillary gaming revenues, extreme weather factors that have cancelled an unprecedented number of race cards, North American horse supply, and larger macroeconomic factors like inflation and the uncertainty of the U.S. dollar.

“While we are proud of our results, we cannot be complacent, and we need to focus on the industry trends and other opportunities that will help us navigate these headwinds.”

In 2023, a total of 1,180 races were contested over 128 dates of racing compared to 1,198 races over 132 dates in 2022. Woodbine ran four less dates and 18 less races in 2023 due to an unprecedented number of cancelled race cards (5) because of extreme heat and poor air quality caused by smoke from forest fires across Canada.

The average field size for those races was 8.2, the same as 2022, and above the industry average.

In Ontario, wagering on Woodbine Thoroughbred racing by customers across the province was down 6.2 percent ($81.8 million this season vs $87.2 million in 2022).

The decline in home market wagering was partially mitigated by a foreign market handle of $512 million, a decrease from $515 million in 2022, though still a remarkable gain from the previous record of $420 million in 2021. The $512 million in foreign market handle was supported by a strong U.S. dollar.

The average handle per race in 2023 was a record $519,597. This is an increase of $580 per race from 2022.

To address the increased competition from an emerging licensed sports betting market, Woodbine Entertainment announced a partnership with global sports betting leader bet365 prior to The King's Plate. It includes the integration of pari-mutuel horse racing into bet365's licensed sportsbook platform in Ontario. Woodbine plans to integrate its racing product in additional licensed Ontario sports books in 2024 in hopes of generating increased handle in the province and engagement with a new audience.

“We are operating on a very solid foundation that positions us well to manage the current industry and economic trends,” added Copeland. “We also have opportunities before us that have not been fully realized yet, like the integration of racing into licensed sportsbooks, which will have a positive impact.”

Key Highlights

• Second highest single-season all-sources handle ($613M) in Woodbine history
• Second highest single-season foreign handle ($512M) in Woodbine history
• Record-breaking average per-race handle of $519,597
• Average field size of 8.2 (above North American industry average)
• Woodbine saw the return of the King's Plate for the first time in over 70 years with winner Paramount Prince. The total all-sources wagering on King's Plate day was a record $18,127,049
• The integration of pari-mutuel racing into bet365's licensed online sports book in Ontario

The 2024 Woodbine Thoroughbred season is scheduled to begin on Saturday, April 27. The 165th running of The King's Plate will take place on Saturday, August 17.

For the latest information on Woodbine Racetrack, visit Woodbine.com or follow @WoodbineTB or @WoodbineComms on Twitter.

The post ‘Strong Results’: Woodbine Wagering Down From 2022, But Handle Is Second Largest Seasonal Total In History appeared first on Horse Racing News | Paulick Report.

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With horsemanship a top priority, Santa Anita Park will again honor and reward vital members of its workforce beginning with its Classic Meet opener next Tuesday, as one groom per race will receive a $50 gift card via the track's “Best Turned Out” program, presented by AVION LAW. The “Best Turned Out” horse in each race will be acknowledged on Santa Anita's Infield Big Board and throughout the 1/ST Racing simulcast network prior to each race as the horses come onto the track.

“AVION LAW is again very proud to sponsor the Best Turned Out program here at Santa Anita,” said Richard Pearson, founder and principal at Avion Law. “As a racehorse owner myself, I know first-hand that our grooms are an absolutely vital component to our industry and they take great pride in the care and attention they give to these magnificent equine athletes.”

Racetrack grooms are men and women who are typically assigned to care for two to four horses. Grooms arrive early, typically far in advance of sunrise and begin a daily routine that includes monitoring feed tubs, checking temperatures and legs, brushing, bathing, attending to foot care, bandaging, setting tack and much more.

AVION LAW is a California-based international law firm focused exclusively on the private aviation industry. Determined from its creation to “make a difference,” the firm has a Giving Back program which is devoted to raising awareness of and making donations to, organizations both within and outside of the racing industry.

First post time on opening day Tuesday, is at 11 a.m., with admission gates opening at 9 a.m. For additional information regarding opening day and Santa Anita's Classic Meet, please visit santaanita.com or call (626) 574-RACE.

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Remington Park completed the 2023 Thoroughbred Season on Dec. 16, a day after Otto the Conqueror won a nearly race-long battle with Glengarry to win the $300,000 Springboard Mile, earning 10 qualifying points for the 2024 Kentucky Derby.

Remington Park also enjoyed a new record parimutuel handle day on Sept. 24 when a 10-race card produced wagering of $4,128,147. That card was headlined by the thrilling Grade 3 Oklahoma Derby won buy How Did He Do That in a three-way nose photo.

The 67-date season finished with a decrease in parimutuel handle on Remington Park. A total of $82,494,143 was bet on Remington Park throughout the season, lower by 3.8 percent from the 2022 total of $85,761,277.

Export handle from outside Remington Park provided the largest portion of the handle at $79,426,201. That is a 3.7 percent decrease from the 2022 export handle total of $82,494,002.

Remington Park controlled handle, on-track and one off-track site, was $3,067,942, down 6 percent from a year ago when $3,267,225 was played.

Remington Park contested 605 races this season, five more than in 2022. Despite the slight increase in total races the number of turf events was significantly lower. The turf course held up beautifully from the opening of the season on Aug. 18 until the final race over the lawn on Nov. 11. However, only 92 races were run over the turf this season compared to 108 a year ago. The races were forced off the turf due to rain or the course being too damp on 10 of the possible 48 race dates when it was schedule to be utilized.

The total purses for the season of $15,847,215 produced a daily average of $236,525. A total of 4,767 horses competed in the 605 events for an average field size per race of 7.9.

Remington Park racing is now on hiatus until action begins in 2024. The American Quarter Horse, Paint and Appaloosa Season runs March 7 to June 1. The Thoroughbreds return from Aug. 16 to Dec. 13.

Remington Park has provided more than $340 Million to the State of Oklahoma general education fund since the opening of the casino in 2005. Located at the junction of Interstates 35 & 44, in the heart of the Oklahoma City Adventure District. Remington Park presents simulcast racing daily and non-stop casino gaming. Parking and admission are always free. Must be 18 or older to wager on horse racing or enter the casino gaming floor. Visit remingtonpark.com for more information.

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