Derby Trail Forums - Monmouth Park Week 2 Handle up 122%

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Monmouth Park Week 2 Handle up 122%

http://monmouthpark.com/news.aspx?id=3019

From Monmouthpark.com

OCEANPORT, N.J. – Following Monday’s Memorial Day card, handle for the holiday weekend at Monmouth Park totaled $24,912,191 a 122% increase over last year, when $11,222,330 was wagered. :$::tro:

Total attendance for the 3-day weekend was 38,543, a 15.5% increase over 2009, as on-track handle came in at $2,925,073, a 44% increase.

We were in the picnic area at Monmouth on Sunday and it was packed. Great weather, nice day out with the family and broke even on the day!:)

But what was Belmont's ontrack handle? :rolleyes:

Looks like handle will be up more than 30%.

Quote:

Originally Posted by ateamstupid (Post 652910)

But what was Belmont's ontrack handle? :rolleyes:

Why do we always have to compare it to Belmont's handle, the fact is whatever Monmouth is doing is working. If both are healthy who cares which handle is higher.

Quote:

Originally Posted by randallscott35 (Post 652936)

Looks like handle will be up more than 30%.

Nope. Can't happen. 15% would be nearly unattainable.

Quote:

Originally Posted by HomerS (Post 652966)

What is your definition of working?

If the only goal here is to increase handle from last year it is definitely working. No ifs ands or buts

But idea here is to have a sustainable business model. To stay in business.

Is current handle sufficient to cover the higher purse payouts? That is the question and answer is clearly no not now. Handle needs to be significantly higher

As far as comparing to Belmont it is next door, dealing with same demographics. If Belmont is generating higher handle and paying out less in purses that tells us something.

Its about sustainable business models. Not short term thinking thats how we are where we are

Understand its a last desperate effort. And am pulling hard for it to work. Going to enjoy betting it all summer.

But trying to be realistic here.

Maybe I should have wrote a preamble, for me it has been working. Larger fields, large purses, higher profile connections, big name Jocks, I am speaking on behalf of myself that never paid much attention to Monmouth in the past, now it has atleast gotten my attention and from what I have seen early on, I will concentrate more plays there. It's no different than going to a buffet, all bettor's want are more choices.

Quote:

Originally Posted by CSC (Post 652959)

Why do we always have to compare it to Belmont's handle, the fact is whatever Monmouth is doing is working. If both are healthy who cares which handle is higher.

My feelings exactly.

Quote:

Originally Posted by ateamstupid (Post 653047)

My feelings exactly.

Are they both healthy though?

This is an overall industry health issue. This has little to do with NY or NJ or anyplace else...Just to be clear.

Quote:

Originally Posted by HomerS (Post 652966)

What is your definition of working?

If the only goal here is to increase handle from last year it is definitely working. No ifs ands or buts

But idea here is to have a sustainable business model. To stay in business.

Is current handle sufficient to cover the higher purse payouts? That is the question and answer is clearly no not now. Handle needs to be significantly higher

As far as comparing to Belmont it is next door, dealing with same demographics. If Belmont is generating higher handle and paying out less in purses that tells us something.

Its about sustainable business models. Not short term thinking thats how we are where we are

Understand its a last desperate effort. And am pulling hard for it to work. Going to enjoy betting it all summer.

But trying to be realistic here.

If handle isnt sufficient to cover purses where do we go then next year? Will people assume, based on this years handle that they would get same results with $350-$400k in purses? What is the backup plan?

Homer-

Do you really think thats true? I remember monmouth being over an hour away from new york city but i could be wrong. That being the case, wouldnt that change things a little?

Also, in terms of "sustainable business models" as you put it, which track/circuits work beside the ones that are supplemented by slots?

I think what Monmouth is doing is part of the future of the sport. The bigger, deeper fields with higher purses makes a lot more sense on many levels than the way Belmont or Hollywood park does it.

The traditional model for horse racing as a self sustaining business is broken. The world has changed. Entertainment options both sporting or otherwise have grown exponentially since the heyday of the game. Randall hit it right on the head. These problems that you are speaking of are industry issues.

Quote:

Originally Posted by HomerS (Post 653072)

Yes think its same general demographic

It is an hour away.

Both are drawing from wealthy customers with disposable income

NJ and NYC very similar in alot of ways

Comparing Mon to Bel not like comparing Belmont to Praire Meadows

Diverse ethnic places with above average income

Understand south Jersey more tied to Philly

Belmont is located within train or cab distance from the richest and most powerful people in the world.

Monmouth is in New Jersey.

Now, do you really want to go into the differences? In terms of accessiblity alone, we are talking about different planets.

Quote:

Originally Posted by dalakhani (Post 653081)

This is worthless on several levels.

Let the good times roll.

Monmouth Park | Posted 6/1/2010, 5:13 pm
Monmouth business booming
By Matt Hegarty
Betting and attendance figures for the first five days of the Monmouth Park meet have far exceeded the expectations of the track's operator and the racing officials who supported the adoption of an experimental 50-day meet guaranteeing $1 million in average purse distribution per day, the racing officials said.

Over the first five days, average handle has been $8,263,283 per card, up 162 percent compared to the total average for a 93-day meet last year and up 122 percent compared to the handle on corresponding dates last year, according to figures supplied by Monmouth and on race charts. Average attendance is up 86 percent, while field size has increased by nearly two horses per race, from 7.5 last year to 9.4 this year.

Quote:

Originally Posted by dalakhani (Post 653081)

Checking out after this display of brilliance.:zz: