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Del Mar forced to reduce its purses


UNION-TRIBUNE

August 2, 2008

DEL MAR – Business being flat in some areas and down in others, Del Mar Thoroughbred Club officials yesterday afternoon announced a 3.5 percent reduction in purses effective Aug. 13, when there will be 20 racing days remaining in the 43-day meeting.

It is the first time in more than 30 years the popular track has had to make a during-meeting cut.

The cutback will amount to “less than $10,000 per day,” or around $1,000 per race, track Chief Financial Officer Michael Ernst said. Track CEO Joe Harper called it a “tweak” in purse structure more than a purse drop.

Key figures cited in the decision were an 8.3 percent drop in per-capita betting on track (on-track attendance is down .8 percent) and a “flat” revenue stream (compared to last year) from in-state Advance Deposit Wagering. Both Santa Anita and Hollywood Park experienced ADW increases in meetings run during an “experiment” which opened wagering to subscribers of all four authorized ADW companies.

– HANK WESCH


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