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Originally Posted by Storm Cadet
Phil,
I know that the handle pays, but how many 1/4 million hits can they absorb from the takeout with all their other funding issues as we see these short fields and dwindling attendance? I know they don't have a balanced budget, but I'd sure hate to be the accountant who does financial projections on race purse and takeout for NYRA. 
SC |
Quite a few... the handle on Saturday for NYRA racing alone will probably be around $7-8MM. Their blended take is probably around 12%, factoring in off track percentages kept. That's $1,000,000, which is plenty enough to cover the purses if they did a better job with efficiency. The problem with short fields is they're a LOT less attractive to bet, which decreases handle.
On top of that, they simulcast other facilities, which is basically "free money" from their perspective.