A truly bad day for N.J.

[philcski]

I didn't believe this article for one second so I ran the numbers myself for this year's meet thus far.
http://spreadsheets1.google.com/ccc?...cD&hl=en#gid=0

As you can see, at a blended takeout of 18% and a signal cost of 6% (and an assumption that 20% of off-track wagering made in-state; these numbers are not published for NJ but NY averages 25-30%) and $200k a day in purse supplements from the casinos, MP has made over $4 million this meet before expenses and inclusion of revenues from attendance and concessions, plus all of the profits from simulcast at MP both off-season and in-season.

Now, I realize that running a racetrack is a very expensive proposition, but you cannot tell me it's $50k/day when live racing is not being conducted and $100k/day when it is (which would add up to about $4MM since mid-May.) If the entity runs at a net zero it is a huge financial gain for the state in taxes on wagering, claims, and purse earnings- not to mention taxes on payroll, etc.