9 Step Plan to Grow Horse Racing

McKinsey & Company was commissioned to look at what the horse racing industry needs to turn things around. The result was a report titled “Driving Sustainable Growth for Thoroughbred Racing and Breeding”  which was released at the annual Round Table Conference at Saratoga Race Course in August.  The consulting company reported that  if changes aren’t made soon, by 2020 pari-mutuel handle will decline by 25%, owners’ losses will jump 50%, and only 25% fewer racetracks will be viable.

 

The Jockey Club – not the NTRA – is going to put five years of funding, which amounts to millions of industry dollars, ito this important project.

Some of the ideas include:
  • fewer but higher quality race days
  • innovative wagering platforms
  • integrated rewards systems
  • improved television coverage for racing
  • free-to-play online games to educate the public
Many, if not most, of these items have been discussed publicly before but little to no action has taken place. What else is new? It is good to see that a concrete plan is soon to be implemented. However one has to question the amount of funding that might be funneled into this project.

Read more: Full details from The Blood-Horse

Ray Paulick’s commentary on this “Common Sense” plan

San Diego paper: Horse racing is troubled business, but Del Mar remains one-of-a-kind place

Del Mar paddockExcerpts from this article: Horse racing has problems, needing accouterments such as slot machines to get bodies on site. We’re down to about 100 racetracks in America, and the doomers say that number will be cut in half before long. Del Mar may be an island in a stormy sea, but even those thought to be safe can’t survive without nourishment — in this case, horses.

Hollywood Park has been hanging by its hoofs for years and will go sooner or later, as will the Bay Area’s Golden Gate Fields. Santa Anita, the only other major track in the state, hardly is the life of the party it once was.

Thoroughbred breeders and trainers aren’t going to keep their horses around to just munch on fine California alfalfa.

“Business is good, but I’m not sure I’m not all alone,” says Joe Harper, who is CEO of the Del Mar Thoroughbred Club. Harper saw a record crowd of 46,588 pass through the gates on Opening Day.

Click here to read the full article and what this racetrack’s CEO has to say about online poker.