Despite smaller field size, fewer race days, NYRA handle up so far in 2022

SARATOGA SPRINGS, N.Y. -- All-sources handle on races conducted at New York Racing Association tracks through the first eight months of the year is $1.75 billion, up 2.1 percent over the 2021 figure of $1.71 billion, according to statistics provided Thursday by the New York Racing Association.

Through Wednesday, NYRA has conducted 1,265 races over 134 racing days, compared to 1,302 races run over 140 dates through the same period in 2021. Average daily handle thus far in 2022, is $13,065,724, compared to $12,246,561 in 2021.

The first two months of the second half of the year -- including the first seven weeks of the Saratoga meet -- has helped NYRA turn around what had been a handle deficit for the first six months of 2022.

During a Franchise Oversight Board Meeting Thursday, NYRA reported handle of $1.16 billion though the first six months of 2022, down $9.6 million through the first six months of 2021.

Average field size through the first eight months of 2022 was 7.36 compared to 7.41 through the same time period in 2021.

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FOB officials did question NYRA Thursday on the lack of field size in graded stakes, with members noting how small the fields were on Belmont Stakes Day in some races and other races such as the Whitney, which went with a five-horse field.

Dave O’Rourke, NYRA’s president and CEO, said nationwide there are too many races and not enough horses for the higher-quality races. O’Rourke said conversations need to take place between tracks to address the issue.

“Are there just too many graded stakes and should some of them be furloughed?” O’Rourke said. “It is an industry-wide challenge and it does beg the question what are the number of races that fit the actual population available to keep a product that is [viable]? From a horseman’s side, it might be a different equation than it would be from a track’s side trying to monetize the actual event.”

During the two-hour FOB meeting, NYRA discussed some future capital projects at Saratoga. Under consideration are the renovation of several concession stands including the Heineken bar, also known as the finish line bar, on the first floor, as well as the pizza and hot dog stands adjacent to it. There are also plan to renovate the Jim Dandy bar, located on the first floor.

“Over the next three years, we’re going to pick out the areas that have the biggest impact on the property,” said Glen Kozak, senior vice president operations and capital projects.

Backstretch housing was a major topic, with NYRA officials discussing plans to build a new 68-room dormitory on the Oklahoma training track, adjacent to the soccer field, during the next year.

“We’re going to present for a multi-year plan to get three units up,” Kozak said.

NYRA has begun the process of building its tunnel at Belmont Park, which will allow for vehicular and ultimately pedestrian access to the infield. NYRA wants to redo its three racing surfaces at Belmont and ultimately install a synthetic surface that could be used for winter racing and off-the-turf races.

O’Rourke also reiterated NYRA’s desire to construct a new building to replace the current grandstand at Belmont. NYRA is seeking state assistance in the form of a floating of $450 million bonds to go ahead with that project.

Rob Williams of the FOB asked O’Rourke what would happen if the state did not agree to float those bonds for financing or if it gets delayed two to four years. O’Rourke argued that consolidating racing operations to one facility downstate would be beneficial to the state, in part, because it would open up 100 acres of land at Aqueduct for state use.

“It’s difficult to contemplate why wouldn’t that happen from a logical point of view,” O’Rourke said. “If it didn’t, and we have the franchise until 2033, we’ll run the business as efficiently as we can. … We’re a community. We have 1,500 people living here right now. There are thousands of people that aren’t even our employees in that area working and just lot of people rely on us. We’d do the best that we can moving forward, but I think it would just be a shame.”