As it engages ongoing competitive challenges that include gaming-enhanced
purses at other racetracks and continued growth of casino competition in its
home region, Churchill Downs Racetrack has announced
a reduction in purses that will affect four races scheduled during the eight
days remaining in the 25-day fall meet that continues through November 30.
The adjustments included a purse reduction of $25,000 each
for a pair of stakes races scheduled for November 30. The Grade 2 Kentucky Jockey Club
and Grade 2 Golden Rod — the co-featured events on the second of
the fall meet’s popular “Stars of Tomorrow” programs devoted to racing among
two-year-olds — now carry a purse of $150,000, respectively.
Rather than reduce purses for all overnight races offered during the
remaining days of the meet, Churchill Downs officials have opted to eliminate
one race each on two of the remaining racing days. The races will be dropped
from the programs scheduled for November 24 and 27.
Each of those racing cards will now consist of nine races.
Churchill has worked to
counter expanded competition in its market since late 1998, when an Indiana
casino launched its operations only minutes from the track. As regional casino
competition has grown and matured, Churchill Downs’ competitive challenges
expanded to include racetracks in its border states and throughout North America
that benefit from race purses bolstered by gaming revenues.
The gaming-fed supplements to purses at competing tracks
have placed added pressure on Churchill Downs’ daily racing product. Those
tracks and their enhanced purses have lured horses and stables from Churchill
Downs and Kentucky racing, resulting in declines in the track’s purses and
average horses-per-race.
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