Horseshoes or Homeroom in PA?

[10 pnt move up]

Originally Posted by Cannon Shell

Racing in PA gets 13% of the profits. While you may be correct in saying that politicians will eventually steal the money what backup plan do you propose will replace $250 million a year?

While everyone loves to use the subsidy argument against racing the truth is that many industries are subsidized by the govt between direct cash investments, tax credits, tax holidays, etc

Um a better product, one that can attract bettors and keep them long term, national legislation that would allow for the entire country to legally bet on line, stuff like that.

Subsidies cannot be the defining way the industry survives, which it sounds like it is for many.

[Cannon Shell]

Originally Posted by 10 pnt move up

Um a better product, one that can attract bettors and keep them long term, national legislation that would allow for the entire country to legally bet on line, stuff like that.

Subsidies cannot be the defining way the industry survives, which it sounds like it is for many.

Yeah I'm sure that they can stimulate a couple billion dollars worth of handle in PA with online betting.

[10 pnt move up]

Originally Posted by Cannon Shell

Yeah I'm sure that they can stimulate a couple billion dollars worth of handle in PA with online betting.

How did they survive before he slots, or did they just open? I dont follow that circuit.......at all.

[Cannon Shell]

Originally Posted by 10 pnt move up

How did they survive before he slots, or did they just open? I dont follow that circuit.......at all.

They were hardly thriving but they had no competition outside of AC before Delaware Park came online. Once that happened they had to get slots or probably close up shop. If you went back to a 1990 world prior to any casinos outside of Vegas and AC, racing might have a chance to turn things around w/o alternate sources of funding. However in the 2014 world that just isnt true.

[10 pnt move up]

Originally Posted by Cannon Shell

They were hardly thriving but they had no competition outside of AC before Delaware Park came online. Once that happened they had to get slots or probably close up shop. If you went back to a 1990 world prior to any casinos outside of Vegas and AC, racing might have a chance to turn things around w/o alternate sources of funding. However in the 2014 world that just isnt true.

I may be naive but I dont see people deciding "do I play the ponies or do I play the slots today".......I feel like people seek out poker to play, they seek out horses, or they seek out whatever venture that they enjoy and can survive.

You just have little chance of surviving long term in horse racing. When that changes, if ever, I feel like the sport could grow.

[cmorioles]

Originally Posted by 10 pnt move up

I may be naive but I dont see people deciding "do I play the ponies or do I play the slots today".......I feel like people seek out poker to play, they seek out horses, or they seek out whatever venture that they enjoy and can survive.

You just have little chance of surviving long term in horse racing. When that changes, if ever, I feel like the sport could grow.

Those in the industry would rather we just look at it as entertainment.

[10 pnt move up]

Originally Posted by cmorioles

Those in the industry would rather we just look at it as entertainment.

Given the dynamics probably the correct approach?

[Cannon Shell]

Originally Posted by 10 pnt move up

I may be naive but I dont see people deciding "do I play the ponies or do I play the slots today".......I feel like people seek out poker to play, they seek out horses, or they seek out whatever venture that they enjoy and can survive.

You just have little chance of surviving long term in horse racing. When that changes, if ever, I feel like the sport could grow.

You are thinking too specifically. Gambling is gambling and the proliferation of the availability of casino gambling more or less is choking off many of the potential players of the past.

Funny thing is that your thinking is similar to the reasoning that started racing down the path it has taken. NYRA thought that no one would go to OTB's and not to the tracks in the early 70's. No one thought that the lotteries would hurt handle. Tracks and horsemen didnt think that people would stop betting live races to bet simulcasts in the 90's.

In the end we cant go back and fix those mistakes because in each case the cat is out of the bag and cant be put back in. So yeah we should be using the slot money in a more efficient manner, we should have used more money to try to grow handle and we should have spent more on marketing and lobbyists. But as you have implied as long as the states are needing new revenue sources the slot money will always be in danger.