January 15, 2008
Contact: Contact: Eric Wing, NTRA (212) 230-9511, Rhonda Norby, Equibase (859) 224-2856
The National Thoroughbred Racing Association (NTRA) and Equibase Company LLC today released the year-end “Thoroughbred Racing Economic Indicators” for pari-mutuel wagering on U.S. Thoroughbred racing in 2007, as well as for U.S. purses and race days, with prior-year comparisons.
U.S. purses increased 5.50% over 2006 levels. Total wagering on U.S. racing decreased 0.37% in 2007, with total number of race days dropping by 0.82%. Results in 2007 were buoyed by the opening of Presque Isle Downs in September.
For the fourth quarter of 2007, total wagering declined by nearly one percent, while purses rose 3.63% and race days increased by 0.75%.
“Handle, purses and auction sales are three leading economic indicators of the sport, and the three are interrelated,” said Alex Waldrop, president and CEO of the NTRA. “Handle was steady in 2007, while auction sales also remained steady after an all-time record year in 2006. The robust growth in purses was clearly aided by revenue from racinos, but we are optimistic that increased purses will lead to increased handle as these higher purses translate into a more attractive racing product.”
* Includes worldwide commingled wagering on U.S. races and separate pool wagering in Canada on U.S. races .
Equibase Company is a partnership between The Jockey Club and the Thoroughbred Racing Associations of North America (TRA) and serves as the Thoroughbred Industry’s Official database for racing information and statistics. Through its Web site, http://www.equibase.com, the Company offers an ever-increasing menu of racing information, statistics and handicapping products for everyone from the casual fan to the most experienced handicapper.
The NTRA is a broad-based coalition of horse racing interests consisting of leading thoroughbred racetracks, owners, breeders, trainers and affiliated horse racing associations, charged with increasing the popularity of horse racing and improving economic conditions for industry participants. The NTRA has offices in Lexington, Ky., and New York City. NTRA press releases appear on the NTRA web site, NTRA.com.