Tuesday, September 30, 2014

Churchill-Kentucky Downs Date Fight

A preliminary tweet today from the DRF is extremely troubling.
Kentucky Downs, which recently concluded its meet to record handles, and almost universal horseplayer and horsemen praise, runs in September.  If Churchill plays hardball for September dates, the only logical conclusion is that Kentucky Downs will have none.

As reported on the Paulick Report, September handle at Churchill was down, but the meet provides strategic corporate and shareholder value to the gaming company. September dates were also vital to CDI being able to raise prices by decreasing your payouts as a horseplayer.

"...... Churchill Downs, which is coming off a 12-day September meeting that saw reported declines in handle and purses and dwindling field size of fewer than eight horses per race.
......... The additional dates also helped the bottom line of Churchill Downs and its parent company, CDI, by reducing the Louisville track’s year-long average daily on-track handle below a $1.2 million threshold that lowered tax rates from 3.5 percent to 1.5 percent. It also gave Churchill Downs host status on some big simulcast days that were financially beneficial to the company.Under Kentucky law, that sub-$1.2-million average daily on-track handle also permitted Churchill Downs to increase takeout.... "

HANA continues to support a member betting boycott of all CDI tracks and corporate properties. We will keep you posted on any developments.

Further reporting. If this clarification is valid, it looks like Kentucky Downs would be forced to run an abbreviated meet before September 9th

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