Suffolk plans to reduce takeout for its three 2015 cards

Suffolk Downs in East Boston, Mass., plans to cut its takeout to 15 percent across the board for the three dates of racing it plans this summer and fall, a consultant to the state’s horsemen said on Monday.

In an application pending before the state’s gambling commission, Suffolk Downs has applied to run cards this year on July 11, Aug. 8, and Sept. 5, with a minimum of $500,000 a day in purses for 12 to 14 races a day. Separately, officials have asked the commission to weigh in on the plan to cut the takeout on all wagers, according to Lou Raffetto, the consultant who is assisting the New England Horsemen’s Benevolent and Protective Association on plans for racing in the state in the future.

Raffetto said that current racing regulations state that takeout “shall not exceed” certain levels, giving the track leeway to lower the rates. When Suffolk last ran a race meet, takeout on straight wagers was 19 percent, and all other bets were raked at 26 percent.

The Massachusetts Gaming Commission has not yet scheduled a meeting to consider the application, but expects to soon.

The three cards this year are intended as a placeholder until the state’s racing constituents develop a final strategy for keeping racing alive in Massachusetts. Suffolk Downs, the state’s only Thoroughbred track, announced late last year that it intended to close after the gambling commission passed over the track for a casino license, but it has agreed to lease the track to horsemen over the next two years as its owners evaluate any development opportunities for the property.

As part of the application, Suffolk and horsemen have asked the gambling commission to allow them to use of a portion of the state’s Racehorse Development Fund for purses and operating expenses for the three cards. The Racehorse Development Fund is made up of subsidies from other gambling activities in the state, and the commission’s approval of the plan is considered critical to whether live racing is conducted this year.