Churchill cuts purses for KY Jockey Club, Golden Rod

Last updated: 11/20/13 6:33 PM

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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