COVID-19 drives decline in handle at Woodbine meet

ETOBICOKE, Ontario - Woodbine Entertainment announced Friday that the shortened 2020 Thoroughbred meet at Woodbine produced an all-sources handle of $462,041,545, down more than $54 million compared to the 2019 meet handle of $516,189,419.

The 2020 Thoroughbred meet ran for 96 race days instead of the scheduled 133 as a result of starting late and finishing early. The COVID-19 pandemic postponed the start of the season from April 18 until June 6, and forced it to finish prematurely on Nov. 22 instead of Dec. 13 as scheduled. There were 35 fewer race days and 305 fewer races than in 2019.

“Like many businesses, the COVID-19 pandemic significantly impacted our business and the entire horse racing industry in Ontario,” said Jim Lawson, CEO, Woodbine Entertainment. “However, I am very proud of how we responded and look forward to working with all of our stakeholders as we continue to manage the ongoing impacts caused by the pandemic.”

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The shortened season was a primary contributor to a 10.5 percent decrease in all-sources handle. The closure of Woodbine and its teletheater network to the public was also a significant contributor to the decrease in handle. Handle in Woodbine’s home market area was down 41 percent from last year. With no spectators allowed at Woodbine, ontrack handle was just $124,000, compared to $28 million last year.

“The fact that we were able to limit the decrease in handle to 10.5 percent, despite losing nearly a third of our scheduled race dates, speaks to the strength of our Thoroughbred racing product and our extensive efforts and focus on our wagering business in response to the pandemic,” said Lawson.

Wagering on Woodbine’s race continued to be strong in foreign markets, declining less than 3 percent.

Handle per race was also strong at $509,417, up 19.6 percent year over year.

Field size per race was 8.9 horses, up from 8.2 the year prior. The 8 1/2 percent growth in field size was believed to be a result of the postponed start.

“With the start of the season being postponed more than a month, this allowed more horses to be ready for the start of the season, which resulted in increased field sizes,” said Lawson. “While any growth in field size is always encouraging, it continues to be a focus for us as it is impacting our ability to maximize our wagering handle and support the purse payments.”

Even though the 161st Queen’s Plate program on Sept. 12 was not able to host spectators, it generated the third-highest handle in its history. The 13-race card generated a total of $14,532,678 in betting, including $3,494,496 on the Queen’s Plate itself.

“Overall, we will reflect back on this season as a year of overcoming many challenges that will only strengthen and benefit our industry moving forward,” said Lawson.