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Originally Posted by 10 pnt move up
so their bonuses were well spent?
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The increases year over year were tremendous, but in terms of determining whether the bonus money was well spent you have to consider what was spent by on-track patrons on non-wagering items. I'm sure the casino also had a HUGE bounce. If you were basing this determination solely on handle, the answer would be no, the bonuses were horribly spent. Parx's take on the day from all sources handle would barely cover the bonuses let alone the purses on the day.
That being said, the numbers from the day were outstanding. The PA Derby itself handled $1.5 million in 2013. It handled $4.2 million this year. The P4 pool this year was 517k vs. 223k in 2013. Now, while last year's field did not include the Derby winner it did have the 1-2 finishers in the Travers. Cotillion handle was up 80% with one less horse this year.
Having a horse with the name recognition of California Chrome is always going to be hugely beneficial for a racetrack. But, the real question is what long-term benefit will you get from the people who showed up and how much did you get from them the day they showed? For a place like Parx, it's an uphill battle and you almost feel like their goal was to get those in attendance to be long-term casino patrons.
To put things in perspective, Belmont handled $12.1 million Saturday on a ho-hum card. It's nice for tracks like Parx to have moments in the sun, but the tangible impact that they have on generating customers is negligible.