Churchill Downs requests reduced racing dates, stakes purses
May 18, 2009
Due to a reduced number of entries and a decline in purse money earned from
all wagering sources during its ongoing 2009 Spring Meet, Churchill Downs
Racetrack will request permission from the Kentucky Horse Racing Commission to
eliminate seven race days from its 2009 Spring Meet, which had been scheduled
for 52 racing days between Saturday, April 25, and Sunday, July 5. The
request, which was made at the KHRC’s regularly scheduled meeting on May 12,
comes on the heels of four consecutive race days in which at least one race was
canceled due to small field sizes.
“With this announcement, we are now clearly seeing the
impact of competing with Thoroughbred racetracks that supplement their purses
with revenue from additional gaming options, such as slots and video lottery
terminals,” said Bill Carstanjen, chief operating officer of Churchill Downs
Incorporated. “Our analysis shows that tracks with these enhanced purses
are attracting more horses to their races. Meanwhile, Kentucky, the cradle of our industry, is
seeing a decline in field size. Until we address this inequity, Kentucky’s horse
industry will continue to suffer.”
Churchill will request that six Wednesdays (May 20; June
3, 10, 17 and 24; and July 1) and one Thursday (May 28) be eliminated from its
2009 Spring Meet schedule.
“We are disappointed that we have to make this request
after a successful Kentucky Derby week,” said Carstanjen. “The crowds we
enjoyed for the Kentucky Derby and Kentucky Oaks, as well as Mother’s Day,
illustrate clearly the passion and appreciation that Louisville has for us, and
leave no doubt that Louisville is a major-league city that supports this
track. Unfortunately, we have not been able to draw enough horses to fill
our race cards and remain competitive in the national wagering market, which
accounts for almost 90 percent of our handle. As a result, our wagering
handle, which funds purses, has been down 20 percent outside of Oaks and Derby
Days.”
Churchill will also reduce purses by $425,000 on six
stakes races to help offset the lower than expected wagering levels.
Those races, including their original and revised purses, are the June 6 Early
Times Mint Julep Handicap (Grade III), from $150,000 to $100,000; the June 13
Jefferson Cup (GII), from $200,000 to $150,000; the June 13 Northern Dancer
(GIII), from $150,000 to $100,000; the June 13 Fleur de Lis Handicap (GII),
from $300,000 to $200,000; the June 13 Stephen Foster Handicap (GI), from
$750,000 to $600,000; and the July 4 Firecracker Handicap (GII), from $175,000
to $150,000. The reductions in purses will not affect the grade of any of
the races listed.
“Although we regret that current business conditions
have forced the reduction of purses for six of our most popular and historic
stakes events, we took care to avoid cutting overnight purses in an effort to
soften the impact upon our Kentucky horsemen,” Carstanjen added. “We have
worked with Kentucky’s
horsemen and they understand the need for these unfortunate changes. We
hope that this will assist their stables and we appreciate their continued
support of Churchill Downs and Kentucky
racing.”
Churchill Downs, the world’s most legendary racetrack,
has conducted Thoroughbred racing and presented America’s greatest race, the
Kentucky Derby, continuously since 1875.
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