Canterbury cutting takeout to lowest in US

[Pants II]

Originally Posted by Kasept

Phil..

Please don't perpetuate myths, or lies, here. CD raised takeout in an attempt to maintain their purse structure so as not to lose horses to other jurisdictions. While the decision was simplistic and myopic, it wasn't done just 'because they could'.

It's unbalanced that there is never an acknowledgement in discussions on this topic that they are surrounded by casino-fueled states (IN, OH, PA, WV) and are without the luxury of alternate revenues like KY Downs/Ellis (Instant Racing funding) or Keeneland (Sales Company funding).

And in terms of dollars and cents, their pricing remained rather fair. Their rates on WPS were industry low-ish (16%) and were raised to a middling 17.5%. Their multi horse and and multi rate rake was industry low-ish (19%) and went to a rather typical 22%, lower than NY and CA on most multis.

Steve they didn't want the IRT's and mostly due to elitism. They didn't want the "local" clientele at their pristine facility.

Even though they could've used Louisville Downs.

I've been following the casino push in Kentucky for years. They were incredibly short-sighted in not taking IRT's. Embarrassingly bad decision really. It's like they don't have a clue how the Commonwealth operates.

Once they're put in they're in. Now they're out. Dumb.

[Pants II]

Louisville Downs was the perfect location for IRT's. They had plenty of space and remodeling wouldn't cost them much in their bottom line.

I was baffled at the time they didn't want it. Poplar Level is degenerate central. Would've done well.

[Kasept]

Originally Posted by Pants II

Steve they didn't want the IRT's and mostly due to elitism. They didn't want the "local" clientele at their pristine facility.

Even though they could've used Louisville Downs.

I've been following the casino push in Kentucky for years. They were incredibly short-sighted in not taking IRT's. Embarrassingly bad decision really. It's like they don't have a clue how the Commonwealth operates.

Once they're put in they're in. Now they're out. Dumb.

Originally Posted by Pants II

Louisville Downs was the perfect location for IRT's. They had plenty of space and remodeling wouldn't cost them much in their bottom line.

I was baffled at the time they didn't want it. Poplar Level is degenerate central. Would've done well.

You're right Coach.. On all counts. They believed that gaming was coming their way. Beshear let everyone down who elected him on the expanded gambling platform.

[Pants II]

Originally Posted by Kasept

You're right Coach.. On all counts. They believed that gaming was coming their way. Beshear let everyone down who elected him on the expanded gambling platform.

They did a biased vet of him and overlooked countless opinions on character. It's been out there for decades.

You have to know your market, your government, etc in that state. It's so bad that I decided to cross the river.

[ranger5830]

While Churchill does not have alternative gaming/sales subsidies like most of the other Kentucky tracks. they do have something that nobody else has, and that's Oaks/Derby, the absolute cash cow of all of American racing. By my estimate, based on attendance and admission prices, they make $15 million just in admission fees alone over the two days, before anybody even spends a penny inside the gates. I've never been to a derby on track, but I'm sure there are ample opportunities to spend money once inside, and not just at the windows. But that $15 million would be enough to provide $350,000 daily purses for the entire spring meet, and that's if they didn't make any money elsewhere, which obviously they do. I know that's not exactly the way the world works, but I'm saying that they should make enough off those two days to subsidize the rest of the year if the other days are not profitable.

I played Canterbury this weekend and didn't do that well (after all, when you lose the takeout is still 100%) but it looked like competitive racing and I will be back for more.