World Cup and Carny wagering up significantly

Kasept · #1 04-06-2010, 02:37 PM

American Wagering on Dubai World Cup Rises Dramatically

LOUISVILLE, KENTUCKY, April 6, 2010—Defying both national and international trends, wagering throughout the Americas on the $26-million Dubai World Cup program and the entire Dubai International Racing Carnival rose dramatically during the first season of simulcasting conducted by Kentucky-based AmWest Entertainment.

Betting was up by 22% on the Dubai World Cup program as compared to last year, and by 9.1% for the Dubai International Racing Carnival even though the Carnival consisted of one less day this year than in 2009. Factoring in the one day less of racing, Carnival handle grew by 17% per day.

The increases, reported by outlets around North, Central and South America as well as across the Caribbean with the bulk in the United States, came while wagering continued to decline by more than 10% on American racing in March, as reported on Monday by Equibase.

“In a world of diminishing returns, the fan participation generated by Dubai racing—and the corresponding excitement of the sheer sport against the pageantry of the spectacular new Meydan Racecourse—is a striking example of horse racing at its best,” said Nelson Clemmens, chief executive officer of AmWest Entertainment.

“Outstanding American horses joined with elite runners from around the world on the international stage in Dubai, making for the best racing competition anytime, anywhere,” Clemmens said. “American fans responded to this opportunity, and their wagering in turn provided additional funds for tracks and horsemen across the United States through simulcasting distribution. This is a classic formula for racing success.”

Total handle reported on the Dubai World Cup program by the 424 outlets in the Americas and the Caribbean was $4,421,788 as compared to $3,622,661 in 2009. Strong participation by American racetracks with special events linked to the Dubai World Cup helped elevate the handle, Clemmens said, while advance deposit wagering companies also reported huge leaps ranging up to more than 60% compared to 2009 figures.

Clemmens said AmWest worked diligently to achieve unprecedented distribution of the Dubai signal throughout the Americas for both the Carnival, which commenced on January 28 and extended over nine days through March 5, and the Dubai World Cup program on March 27. AmWest also delivered detailed racing information, effective advertising, promotions, merchandising and economic incentives for outlets and players. For their part, AmWest’s partner tracks and other outlets stimulated fan interest with a variety of special events or enticements, including breakfasts on Dubai World Cup and Carnival days and extra player rewards.

Wagering opportunities provided by Dubai racing were ideal as fields averaged more than 12 horses per race. Additionally, the new synthetic racing surface at Meydan yielded consistent results, with 35.7% of favorites winning and thus facilitating outstanding exotic plays, Clemmens said.

“We are proud to have been chosen to partner with Dubai racing, the leader in bringing international racing competition to American fans and players,” Clemmens said, “and we are committed to build on these outstanding results in the future.”