NEWS AND NOTES FOR DECEMBER 5, 2014
KENTUCKY REPORTS INCREASE IN HISTORICAL RACING BETS
Historical race wagering at two Kentucky racetracks registered healthy increases in October versus the same month in 2013, according to statistics released by the Kentucky Horse Racing Commission.
Historical race wagering, also called Instant Racing, produced $26.6 million in bets at Kentucky Downs in October, up 11.4% from $23.8 million in October 2013. At Ellis Park, October wagering totaled $3.76 million, up 84.3% from $2.04 million in 2013.
For the first 10 months of 2014, the terminals at Kentucky Downs have generated $271.6 million in wagers, up 11.6% from the same period last year. Wagering from January through October at Ellis Park has totaled $31.8 million, up 35.3% from $23.5 million in 2013.
From Sept. 1, 2011, when Kentucky Downs began operating the machines, through Oct. 31 of this year, more than $850.5 million has been wagered through Instant Racing in the state, according to the KHRC. During that time the machines have provided $7.5 million for purses, $6.37 million for Kentucky Thoroughbred Development Fund purse supplements, and more than $535,000 for the Kentucky Breeders’ Incentive Fund.
MORE PLANS TO EXPAND HISTORICAL RACING IN KENTUCKY
On December 2, the Kentucky Horse Racing Commission approved plans by The Red Mile and Keeneland to launch Instant Racing next year in Lexington. In receiving approval for that joint venture, Keeneland withdrew a previous request that would have allowed the track to build an Instant Racing facility on its property.
Instead, The Red Mile has nearly doubled the size of plans for its previously announced facility from 40,000 square feet to 72,000 square feet, which will house 1,000 wagering terminals.
The facility is slated to open before Keeneland’s 2015 fall meet. The plan is for revenue generated by Instant Racing for purses at the facility will be split 50-50 between Standardbred and Thoroughbred racing.
Meanwhile, Keeneland also took another step forward in its plans to launch a Quarter Horse track in the Corbin area offering a short Quarter Horse meet each year, with eight to 12 weekend days beginning in the summer of 2016, and have a facility with 500 to 700 Instant Racing games. Revenue generated for purses would be split equally between Quarter Horse and Thoroughbred racing.
KENTUCKY DOWNS COULD DOUBLE INSTANT RACING IN 2015
Corey Johnsen, the president of Kentucky Downs in Franklin, Kentucky, recently said that Kentucky Downs hopes to proceed with an expansion of its parlor for Instant Racing.
Kentucky Downs was the first track in the state to implement the game three years ago and said then that there were plans to expand eventually.
“We plan to double the size of our historical horse racing floor,” Johnsen told the Kentucky Horse Racing Commission’s advisory committee for the Kentucky Thoroughbred Development Fund.
The floor currently has 390 terminals and the goal is to complete the expansion in 2015. The original project was $3 million and Johnsen said the planned expansion “would be considerably less than that” because it would involve reconfiguring existing space and enclosing a patio.
HILDEBRAND EQUINE COMPLEX OPENS
The opening of the Hildebrand Equine Complex at Texas A&M University in College Station marked completion of the first part of a planned $80-million building project.
“This new facility solidifies Texas A&M University’s position as a national leader in equine programs—in equine sciences and veterinary medicine,” said Eleanor Green, the Carl B. King Dean of Veterinary Medicine. “The considerable support from current leaders in the equine industry, all friends of Texas A&M, clearly indicate the importance of our university serving the significant equine industry, locally to globally. This premier facility will help us not only serve but also significantly impact the future of the industry. In addition, this state-of-the-art facility honors Dr. Hildebrand, one of the revered graduates of the College of Veterinary Medicine & Biomedical Sciences.”
AHC: TAX EXTENDER BILL PASSES HOUSE; SENATE EXPECTED TO APPROVE
On December 3, the House of Representatives passed the Tax Increase Prevention Act of 2014 (H.R. 5771). The bill would extend several tax provisions favorable to the horse industry, including three-year depreciation for all race horses, which expired or were reduced at the end of 2013. The bill extends these provisions retroactively for assets placed in service at any time in 2014.
For complete details, see http://www.paulickreport.com/news/the-biz/ahc-tax-extender-bill-passes-house-senate-expected-to-approve/
VOTE IN THE TTA BOARD OF DIRECTORS ELECTION
Please note that all ballots must be RECEIVED by 5:00 PM on Monday, December 15th. If you have not received a ballot, your TTA membership may not be current. Call the TTA office at 512.458.6133 to check. Thursday, December 11 is the last day that we will be able to mail out ballots to new or renewing members in time for them to be returned by the deadline.
NOTES: Keeneland has cataloged 1,610 horses for its 57th January Horses of All Ages Sale, which will be held Jan. 12-15, 2015… The Jockey Club reminds owners of unregistered yearlings and 2-year-olds that to avoid additional late registration fees the requirements for registration must be completed by December 31, 2014. The late registration fee increases from $550 to $800 after December 31 of the yearling year and from $800 to $2,025 after December 31 of the 2-year-old year…Congratulations to Danny Pish, who was named leading trainer for the recently concluded Retama Park Thoroughbred Meet, as well as to leading jockey David Cabrera and leading owner Terry Eoff…The next meeting of the Texas Racing Commission is scheduled for Tuesday, December 16th in Austin… Internet bidding for the TTA auction of 2015 stallion breedings is now closed. Seasons not listed as “SOLD” on the TTA website may still be available for purchase. Contact Mary Ruyle in the TTA office at 512.458.6133 for details… Accredited Texas-bred Fiftyshadesofgold has been booked to Tapit for 2015…Entries
close for the Texas 2-Year-Olds in Training Sale on January 5th; contact Tim Boyce at 972.262.0000 for details.