Gaming News

Philadelphia Park horse betting down

BENSALEM, Pennsylvania -- (PRESS RELEASE) -- The Pennsylvania Thoroughbred Horsemen's Association released figures today showing a 26.3 percent decline in live horserace betting at Philadelphia Park for the month of April, the largest monthly decline since slot machines were introduced at Philadelphia Park in December 2006. Simulcast betting by Philadelphia Park patrons also declined by 18.1 percent for the month compared to April 2006.

"These figures show a continued decline in on-site betting at Philadelphia Park," said Michael P. Ballezzi, Executive Director of the Pennsylvania Thoroughbred Horsemen's Association. "The current track facility is terrible for horseracing fans, and people are staying away in record numbers. This is why we need a new facility that offers much improved amenities for horseracing."

In addition to the monthly decline, betting at the track is also down cumulatively in 2007. The live racing handle at Philadelphia Park dropped 21.5 percent to $6,988,149 million in the first four months of 2007. This is a decline from the $8,911,039 live handle at the track during the same period last year. The simulcast handle at Philadelphia Park has also dropped 13.5 percent this year, from $29,450,316 in 2006 to $25,468,581 in 2007. These figures run from January 1 to April 30, the most recent data available.

The Mayor of Bensalem Township, Joseph DiGirolamo, expressed disappointment with the latest figures. "It has always been my goal to see that the introduction of slot machines in the state of Pennsylvania enhance live racing in the Commonwealth, including Philadelphia Park," said DiGirolamo.

Ballezzi noted that one of the keys to maintaining the long-term livelihood of horseracing is attracting younger people to the racetrack by providing a quality product. "One of the major elements of the Pennsylvania Gaming Act was to enhance live horse racing in Pennsylvania," said Ballezzi. "But Philadelphia Park's entire philosophy of treating track patrons as second class citizens, combined with the abysmal conditions, is actually hurting live horseracing. This was clearly not the intent of the legislature or the Governor when they expanded slot machines to Pennsylvania's racetracks."

Even Philadelphia Park Chief Executive Officer Hal Handel has admitted to the poor live racing conditions at Philadelphia Park. Speaking to the Philadelphia Daily News, Handel stated: "If I was a regular and went there every Saturday or every Monday, I would be dissatisfied with the fifth floor. I would think that I would cut back on my visits." (Source: Philadelphia Daily News, May 9, 2007).

With the introduction of slot machines at Philadelphia Park, the Pennsylvania Thoroughbred Horsemen's Association agreed to have the track operations temporarily moved to less than ideal conditions on the fifth floor of the facility while a new facility was constructed. Philadelphia Park is now seeking to avoid its commitment to construct a new state-of-the-art, $300 million casino as it promised during the gaming licensure process, saying the new facility was no longer prudent. Instead, Greenwood Gaming, the owner of Philadelphia Park, is seeking to have the current facility deemed permanent by the Pennsylvania Gaming Control Board.

Currently, Philadelphia Park only possesses a conditional gaming license. The award of a permanent gaming license is the major stick available to the Gaming Control Board to require casino applicants to make the financial investments in their facilities promised during the licensure process. By having the current facility deemed permanent, Philadelphia Park would remove the deadline to complete construction by a new facility by 2009. In addition, there would be no regulatory or legal mechanism to force Philadelphia Park to move ahead with the $300 million investment at any time in the future.

Bensalem Mayor DiGirolamo is also concerned about the casino's change of plans, which could jeopardize gaming revenues. Speaking to the Bucks County Courier Times, DiGirolamo stated "If Philadelphia Park doesn't do what they promised and other casinos in the city build promised hotels and attractions, then we could end up with a second-class racino in Bensalem

"There was a commitment made and certain things were promised to the township and the state." Those comments were echoed by Bensalem Councilman Joseph Szafran, who said he was "very unhappy" with the casino and that it seemed "little thought is going to the horses and the fans." (Source: Bucks County Courier Times, May 20, 2007).

< Gaming News