Fonner Park over a million in handle

[ScottJ]

The results of the Fonner Park two-week experimental meeting are doomed. According to Kotulak, without in-state wagering, the $1M+ handle on Monday only covered the purses for their first four races without considering the operational overhead. Effectively, this means that despite the exposure, the purse account was seriously depleted this week. If they run during this upcoming Monday-Tuesday-Wednesday sequence, it will surely be the end of the meeting and could result in an even worse longer term outcome.

How is the historical racing machines working out?

Oh wait...never mind

[jms62]

Fonner is the Donald Trump of racetracks.

[Kasept]

Originally Posted by ScottJ

The results of the Fonner Park two-week experimental meeting are doomed. According to Kotulak, without in-state wagering, the $1M+ handle on Monday only covered the purses for their first four races without considering the operational overhead. Effectively, this means that despite the exposure, the purse account was seriously depleted this week. If they run during this upcoming Monday-Tuesday-Wednesday sequence, it will surely be the end of the meeting and could result in an even worse longer term outcome.

They handled $7,000,000 yesterday.

[ScottJ]

Originally Posted by Kasept

They handled $7,000,000 yesterday.

The Fonner Park handle on the first Monday, according to Chris Kotulak, covered about 4 race purses (local newspaper coverage). I am thrilled that I was wrong, but there are several factors that have worked in Fonner Park's favor including being able to leverage the "only game in town" angle.

On the financials, the Fonner Park take is about 3% of total handle which means an inbound revenue stream of $210,000 from yesterday's $7,000,000 handle. Tuesday's card paid approximately $50,000 in total purses representing a positive return of $160,000. That's the good news.

Now, to be fair, yesterday's handle was augmented by $3,600,000 bet into the Dinsdale Pick-5 mandatory payoff. If that $400,000+ carryover bonanza was not in place, the story would have been different.

In order to support a $50,000 purse-per-day distribution, the track needs a $1,700,000 handle off-track to break even. I hope that they can continue to draw that action.

Quite frankly, I have really liked the Fonner Park product. The races have been competitive, interesting as ever on the bull ring, and loaded with full fields.

[Dahoss]

Originally Posted by Kasept

They handled $7,000,000 yesterday.

To be fair half of that was the pick 5 jackpot. But even without it people are betting it, which is surprising to me. I didn’t get involved in the pick 5 but I’ve bet a handful of races from WRD recently.

I wonder if that embarrassing DQ will impact handle next Monday and Tuesday. Have to think today will be impacted by Tampa. The real test will be next Monday and Tuesday.