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New Study Shows Virginia Horse Racing Industry Has $542.1 Million Economic Impact

“And they're off…”

When it comes to the horse racing industry in Virginia and the economic impact it is generating, that's an appropriate metaphor. According to a newly released study, the industry generated an estimated economic impact of $542.1 million in the Commonwealth in 2019.

“What we're finding is that jobs are coming back, horse racing related expenditures are up, and tax revenue to the state is increasing,” said John Hannum, Executive Director of the Virginia Equine Alliance. “These are all very positive signs that the racing industry is moving in the right direction and benefiting the Commonwealth's agribusiness and related businesses. Racing was at a low point in 2014 after the closure of Colonial Downs' racetrack. The General Assembly took a number of steps, most notably the passage of Historical Horse Racing machines in 2018, that provided the revenue to re-open the track and fund the revitalization of the industry. The study points to the enormous strides the industry has made since 2014.”

The study was commissioned by the Virginia Equine Alliance, the industry's organizational body that promotes the racing and breeding industry throughout the state. Chmura Economics and Analytics (Chmura), a research consulting firm in Richmond, VA, conducted the study.

Highlights of the new study include:

Overall economic impact for 2019 of $542.1 million.
Annual horse-related expenditures by Virginia horsemen estimated at $239.44 million in 2019.
Overall total in state tax revenue for 2019 estimated at $26.5 million.
Estimated total economic impact of horse racing events and visitor spending in Virginia was $68.7 million in 2019.
Jobs supported in 2019 by the horse racing and breeding industry estimated at more than 5,000.
The average amount spent by horsemen in Virginia to care for, train, and board a race horse is estimated at $14,663.

“The Commonwealth has a rich history of breeding and racing Thoroughbreds, from even before the days of Triple Crown-winning Secretariat from Caroline County and continuing to today. The industry is an important part of our agriculture economy, especially in rural parts of Virginia,” said Bettina Ring, Virginia Secretary of Agriculture and Forestry.  “A successful horse industry means that more farms remain economically viable, which in turn makes it easier to maintain and conserve productive farmland throughout the Commonwealth. I am pleased that the results of this study support that Virginia continues to be a place where the horse industry can thrive.”

Karen Godsey, owner of Eagle Point Farm, a 200-acre Thoroughbred training center in Ashland, VA has seen first-hand the benefit of the Thoroughbred industry coming back stronger in the last few years.

“Our industry has really seen a tremendous turnaround,” Godsey said. “I've been able to recruit and retain more workers, because I am able to pay them a higher per-hour rate than before. I've also had to rent out two additional farms for more horses.”

D.G. Van Clief, Chairman of the Virginia Racing Commission stated: “much of the industry's success over the last few years has been the result of the entire industry coming together and working for the shared goal of revitalizing racing. We are now in a position to grow the sport and add racing days. I am excited about the prospects for racing in the state.”

According to this study, the economic impact is likely an underestimation of the full potential impact in 2019. For example, Colonial Downs race track in New Kent, VA, was only open for nine months in 2019, versus a full 12 months. On the racing side, there were 18 race days, attracting 42,000 spectators. In future years, those racing days are expected to likely double, generating even more of an economic impact.

“We're eager to see how these numbers increase when life gets back to normal and we have a full year of activity at the venue,” Hannum said.

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No Spectators at Colonial Downs for Upcoming Meet

Colonial Downs Group, a subsidiary of Peninsula Pacific Entertainment, announced it will alter course from hosting limited spectators to a “spectator-free” racing program for the 2020 race meet, which kicks off July 27. As a result of the pandemic, the decision was made at the request of the Virginia Racing Commission (VRC) and the Virginia Horsemen’s Benevolent and Protective Association. According to Colonial Downs officials, the changes are intended to focus additional care on key operating areas, including jockeys’ quarters, paddock supervision, the racing office and stable area.

The 2020 Colonial Downs meeting will be conducted on Monday, Tuesday, and Wednesday evenings, with first post time at 5:30 p.m. ET. The meeting will conclude Sept. 2.

“Our horsemen fully support the decision to conduct racing without fans at Colonial this summer, otherwise the public health risk is too great,” said Frank Petramalo Jr., Executive Director of V-HBPA. “There is a bright spot–all our races will be televised live on the TVG network, and people can wager on TVG or on other on-line sites.”

Additionally, Colonial Downs has established the following procedures for jockeys participating in the upcoming meeting:

• Jockeys must provide a negative COVID-19 test before arriving on Colonial Downs grounds for the first time, and the test must have been taken since last riding elsewhere.
• Jockeys who leave Colonial Downs to ride elsewhere, or enter another racetracks jockey’s quarters, will not be permitted to return to Colonial Downs unless they self-quarantine for 14 days and obtain and provide a negative COVID-19 test.

For more information, visit www.colonialdowns.com

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Colonial Downs Adjusts To Spectator-Free Racing, Implements Jockey Restrictions

In light of the unprecedented pandemic impacting all walks of life and industries, Colonial Downs Group, a subsidiary of Peninsula Pacific Entertainment, announced today that it will alter course from hosting limited spectators to a “spectator-free” racing program for the 2020 race meet, which opens Monday, July 27.

The decision to conduct the meeting without spectators is at the request of the Virginia Racing Commission (VRC) and the Virginia Horsemen's Benevolent and Protective Association (V-HBPA). . The change to “spectator free” racing is out of an abundance of caution and enables Colonial Downs to focus extra care towards key operating areas, such as the jockeys' quarters, paddock supervision, racing office and the stabling area.

“We accept the position of our industry partners that adjusting to spectator-free racing is ultimately best for protecting the health and safety of our racing participants,” said John Marshall, Executive Vice President of Operations for Colonial Downs.  “Our team is prepared to deliver a quality racing product while ensuring a safely run meet, which is our chief objective.”

Colonial Downs joins the group of major racetracks in the region racing without spectators including Saratoga, Laurel Park and Penn National. Spectators will not be permitted on the outdoor apron or the grandstand seats, and the 4th floor restaurant (1609) and suites will remain closed.

The 2020 Colonial Downs meeting will be conducted on Monday, Tuesday, and Wednesday evenings, with first post time at 5:30 p.m. ET. The meeting will conclude on Wednesday, Sept. 2.

“Our horsemen fully support the decision to conduct racing without fans at Colonial this summer, otherwise the public health risk is too great,” said Frank Petramalo, Jr., Executive Director of V-HBPA. “There is a bright spot — all our races will be televised live on the TVG network, and people can wager on TVG or on other on-line sites.”

Fans are encouraged to watch Colonial Downs live on TVG channel 718 Xfinity, 399 Dish or 602 Direct TV, and wager by setting up an account on www.tvg.com.

As part of the protocols for jockeys participating in the upcoming meeting, Colonial Downs has established the following procedures:

Jockeys must provide a negative Covid-19 test before arriving on Colonial Downs grounds for the first time, and the test must have been taken since last riding elsewhere.
Jockeys who leave Colonial Downs to ride elsewhere, or enter another racetracks jockey's quarters, will not be permitted to return to Colonial Downs unless they self-quarantine for 14 days and obtain and provide a negative Covid-19 test.

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Marsha Hudgins Appointed To Virginia Racing Commission

Marsha Hudgins, owner and CEO of Hudgins Contracting Corporation, has been appointed newest Commissioner of the five person Virginia Racing Commission (VRC), joining Chairman D.G. Van Clief Jr., Vice-Chairman Stuart Siegel, J. Sargeant Reynolds, Jr., and Stephanie Nixon.

The VRC's mission is to promote, sustain, grow and control a native horse racing industry with pari-mutuel wagering by prescribing regulations and conditions that command and promote excellence and complete honesty and integrity in racing and wagering.

Hudgins originally questioned whether she had the qualifications necessary to serve on the Commission board. She has been a longtime owner and breeder of sport horses like hunters and jumpers but had not been involved in horse racing per se.

“I didn't feel I was qualified and didn't think I could be of any benefit to the industry,” she said. “I thought there were plenty of others who had longer and stronger backgrounds in the sport who could bring lots more to the table.”

After initially declining consideration, she began having conversations with people in the industry.

“I still had doubts but knew upcoming years would be pivotal for racing in Virginia with historical racing, OTBs, the return of Colonial Downs and casinos. I started thinking that someone who is behind the industry, has business experience elsewhere and understands how business can impact the state should have their voice heard.”

Hudgins ended up throwing her hat in the ring, was appointed by the Governor on May 19 and attended her first VRC meeting as a Commissioner on June 25.

Her horse farm is in Suffolk and she has attended many equine shows and competitions over the years in Middleburg, Charlottesville and The Plains among others. In addition to the Hampton based business she runs — her late husband Lester started the contracting company 40 years ago — Hudgins went to college for Physical Therapy and has more than a passive understanding of injuries, treatments and more in-depth knowledge of medications and breakdowns. She has practiced for 35 years.

She also earned a Masters of Business Administration from Old Dominion University. She has spent almost thirty years consulting with small business start-ups as well as large corporate entities across the region in targeting and managing growth opportunities. The degrees and experience came in handy, especially when her husband passed away somewhat unexpectedly in 2011 from cancer at the age of 69.

“He ran a general contracting business when I met him in the early '80's and he pretty much built buildings,” she said. “I love business though. I'd give him occasional advice on the business and he'd usually just give me a look or roll his eyes. Then one day, he said some of the things I suggested were actually right,” she chuckled. “The joke in our family was that he was the businessman, but I had the MBA.”

Hudgins said her husband did not make any plans for later in life and thought he would keep the business going until he died. When he was sick, he told her she would have to take over the company.

“I said, 'excuse me, say that again'. He said it was important for him, but especially for all the employees that had been with him for 15, even 20 years,” she said. “At that time, the local economy was still depressed and it was a struggle. He was concerned about the older employees that were in their 50's. It was recession time still and companies weren't hiring. He was fearful that if the company didn't continue, they would struggle finding a job elsewhere due to their age and as he said, 'be put out to pasture'.”

“It hit home hard and it happened so fast,” she continued. “I was responsible for the financial health of the business, the ups and downs, and for all the people.” Initially, she thought about selling. “The employee that was running the business on an interim basis was interested in buying it but he and I had a different viewpoint on what the company culture should be and how people should be treated. He ended up resigning and at that point, I made up my mind to take over.”

Hudgins wasn't an engineer and admitted she was never going to know what her work force knew, but made up her mind to learn about the construction field and all the projects her firm was involved in.

“I knew the key was to get the best employees I could find based on my vision of teamwork, and not the top down management structure. I found people in the industry that I knew would be a good fit. I had to almost become a cheerleader to get good people to come on board and take chance with us. We slowly and steadily evolved with these new folks, and employees that had been there for a while, though a lot of hard work. It was a journey but it was very rewarding. I was able to treat my older employees as if nothing had even disturbed the flow of their work. I got to see them retire when they planned to retire and attend their going away parties. And I've seen young people in their 30's come in and seen their enthusiasm take the company to where it is today.”

Last summer, Hudgins had her first experience as a thoroughbred race horse owner, in a sense. She was part of the Virginia Racing Club, a collaboration of 30-40 fans from all over the state, who each invested a modest fee to own a share of two horses that raced at Colonial Downs last summer. Ferris Allen trained them both — Speed App and Fly E Dubai.

On opening day's card — the first one held at New Kent since 2013 — Speed App raced, and won. “There's a saying in sport horses that if your foal is a winner and you strike gold with it, get out while you can,” joked Hudgins. “You can't understand how rare that is and how hard it is to replicate. The experience wasn't about the money so much as it was a chance to go to the races with like minded people and cheer for your horse. The cost was reasonable to get in and it was a wonderful opportunity. And shock of all shocks is that we made a little money in addition to the entertainment.”

At her first Racing Commission meeting last month, Hudgins witnessed firsthand how industry stake holders can band together. She came away impressed. “In my business, problem solving is the biggest thing you can to do to have a view of the future. You need to work in a collaborative way with other groups to have a common goal in which we all share. That's what I saw at the meeting. Groups with different goals coming together to figure out a way how Virginia is going to move forward. I was amazed. It bodes well for the future of our industry.”

“I see horse racing as a driving economic force in Virginia because it is our heritage,” she continued. It goes back to the very beginning here. I don't think there's anything more beautiful than a thoroughbred horse. Anybody that has an interest and love for the sport can get involved. Racing is like my business. We have people in the field that work with heavy machinery and lay piping, are very good at what they do and earn a good living. It didn't take a college degree. It's the same in racing. You need education of a different sort. You need to love working outside and with animals. We have an entire industry that doesn't go into office buildings.”

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