Harness racing is just around the corner
By Dr. Nicholas J. Hadgis
Dean and professor
Widener University School of Hospitality Management
The late Fitz Eugene Dixon, Jr., former Chairman of the Board of Trustees of Widener University, thoroughbred horse breeder/owner and former Pennsylvania Racing Commission Chairman once stated that “gaming rode into Pennsylvania on the back of a racehorse.” At the request of Governor Ed Rendell, Fitz helped to spearhead the effort to pass legislation that would permit slot machines at race tracks in Pennsylvania rallying the support of horse breeders/owners along the way.
The legislation required that part of the revenue from slot machines would go to horse racing and that the owners of race tracks would get licenses to operate slots casinos, thus the term “racino” was coined. Funding for racing from slots has enabled purses in Pennsylvania to be higher than other states and, consequently, the value of horses at auctions as well as the number of horses in foal in the state, has increased.
In efforts to improve the track experience for racing patrons, casino operators, such as Harrah’s, have built new tracks or remodeled existing ones adding new grandstands and quality food and beverage facilities that complement the racing and gaming experience. The racing fans and casino customers, however, tend to represent two different markets and, currently the casino executives consider themselves fortunate to get a 4% to 5% crossover of people betting on races as well as enjoying the casino. Efforts are being made to increase this number through advertising of incentives and special race days. The casino operators think that the advent of table games will bring a new segment of gamblers to their facilities that are more likely to bet on horses than are the current slots players.
The horse racing industry has been in economic decline nation-wide for years. While Pennsylvania racing has benefitted from the funds flowing to it from the gaming industry, executives in the racino business concede that, given its current economics, the horse racing industry is in a death spiral and the slots funding in Pennsylvania is simply buying it some time. The “sport of kings” needs major revisions in how money flows into it and in making a day at the track more user friendly for a new generation of fans.
Harness racing beings April 23 at Harrah’s Chester Casino & Racetrack.
Dean and professor
Widener University School of Hospitality Management
The late Fitz Eugene Dixon, Jr., former Chairman of the Board of Trustees of Widener University, thoroughbred horse breeder/owner and former Pennsylvania Racing Commission Chairman once stated that “gaming rode into Pennsylvania on the back of a racehorse.” At the request of Governor Ed Rendell, Fitz helped to spearhead the effort to pass legislation that would permit slot machines at race tracks in Pennsylvania rallying the support of horse breeders/owners along the way.
The legislation required that part of the revenue from slot machines would go to horse racing and that the owners of race tracks would get licenses to operate slots casinos, thus the term “racino” was coined. Funding for racing from slots has enabled purses in Pennsylvania to be higher than other states and, consequently, the value of horses at auctions as well as the number of horses in foal in the state, has increased.
In efforts to improve the track experience for racing patrons, casino operators, such as Harrah’s, have built new tracks or remodeled existing ones adding new grandstands and quality food and beverage facilities that complement the racing and gaming experience. The racing fans and casino customers, however, tend to represent two different markets and, currently the casino executives consider themselves fortunate to get a 4% to 5% crossover of people betting on races as well as enjoying the casino. Efforts are being made to increase this number through advertising of incentives and special race days. The casino operators think that the advent of table games will bring a new segment of gamblers to their facilities that are more likely to bet on horses than are the current slots players.
The horse racing industry has been in economic decline nation-wide for years. While Pennsylvania racing has benefitted from the funds flowing to it from the gaming industry, executives in the racino business concede that, given its current economics, the horse racing industry is in a death spiral and the slots funding in Pennsylvania is simply buying it some time. The “sport of kings” needs major revisions in how money flows into it and in making a day at the track more user friendly for a new generation of fans.
Harness racing beings April 23 at Harrah’s Chester Casino & Racetrack.
Labels: casino, harness racing, Harrah's, racino
posted by Business of Sports at
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