Daily wagering this spring at Pimlico Race Course, home of the Preakness Stakes, was down by nearly one-quarter, the Maryland Jockey Club reported Thursday. Over 29 race days, the average total wagered each day was $4.87 million, a 22 percent drop from last year’s $6.26 million.
But what the jockey club’s news release doesn’t say is that actually works out to be bigger total handle for Pimlico this year because there were nine more race days at the track in 2011. Last year, about $125 million was wagered over 20 racing days at the track; this year about $141 million was wagered over 29 race days.
Incidentally, the jockey club sought and won an operating subsidy for its two racetracks this year because it said it couldn’t afford to run Pimlico and Laurel for a full year without financial help. The subsidy is good through 2013 and contains certain provisions.
Also, attendance at Pimlico on Preakness Day cracked six figures for the first time since 2008, climbing by 12 percent to total 107,398 for the day. We think that’s more likely a result of the increased boozing options in the infield (i.e. $20 for an all-you-can-drink beer mug) but the jockey club says different.
“It is a positive outcome that the inventive strategies we have employed worked on Preakness day,” said jockey club President Tom Chuckas.
