Kudos

With all the negativity these days regarding horse racing it’s about time that someone write an article that looks at the recent positives for the sport. So here is one look at what has gone right in the past month for the Sport of Kings.

One of the highlights this week was the closing numbers that came out from Santa Anita (here). Usually a twelve percent decline in all sources handle would be a serious black eye for any track, but let's consider what kind of financial environment we are in. Reports published by other industries heavily dependant on disposable income show that things are really tough. For example, dental offices specialized in cosmetic dentistry are off anywhere between twenty-five and forty percent. Meanwhile, thanks to Santa Anita's slew of promotions, they enjoyed a one percent increase in total on track attendance. "All things considered we had a pretty good season," reports Santa Anita marketing manager Nate Newby. "Yes, the Free Fridays really helped."

Another promotion put together by Santa Anita was a "Stimulus Package" which paid $1,000 to $3,500 in cash to one lucky patron during the last three Sundays of the meet. While on paper the promotion appeared to have little impact, I know that from being in the stands a lot of people were staying around until the sixth race to find out whether they had won or not. Interestingly this promotion was derived from a suggestion made in September 2008 by the fan based NTRA Online Marketing Task Force. I for one am glad that someone is listening to the fans.

Regardless of how others gripe, the Kentucky Oaks is still being televised this year, flipping from NBC to the Bravo! channel. Honestly, I am surprised that the Oaks were not dropped sooner from NBC. While most people know about the Derby, the Oaks is a "hardcore fan" race. Let's be glad that it's still going to be on television. Furthermore maybe the Bravo! team will put together an improved product? New ideas never hurt anyone and there's a good chance an outsider might be able to spin the race better. I'm looking forward to their broadcast.

While some people believe the sport of Kings relies solely upon the bettor, for those that realize the owner is equally important there is good news. CNBC is airing a "Kentucky Derby and the Sport of Horse Racing" special on April 30th. As a business channel, CNBC will look at the economics of both the Derby and racing in general. Perhaps this show will help draw new interest in ownership.

Lest I forget the bettors, there is great news for them as well. Hawthorne is giving up to 4% rebates while all MEC affiliated tracks are offering 2% back via their Express Bet platform. In addition, Santa Anita offered ticket less wagering through their Thoroughbreds Club cards for the first time. This is an important step towards seeing rebates for on track wagers, which are far more profitable for tracks and help generate additional income through admissions and concessions. You know when a $.99 cent bottle of soda sells for $4, the track has to smile.

Perseverance!