Gaming News

Study looks at Prairie Meadows slot revenue

IOWA -- As reported by the Des Moines Register: "Prairie Meadows gains an estimated $7 million per year in slot revenue from people on hand for its horse races, an economist told the racetrack-casino's board of directors Wednesday.

"Richard Thalheimer, a former University of Louisville economics professor who has done racing and gambling consulting for three decades, conducted the study on behalf of Iowa horse owners.

"He also concluded that Prairie Meadows made $18 million in slot income from horse fans who came to bet on simulcast races in 2006.

"...Prairie Meadows has estimated that horse racing lost $29 million in 2006. If Thalheimer's numbers are true, the revenue from horseplayers' betting on slot machines would offset much of that number.

"...Prairie Meadows board members said they were impressed with the report's detail. But some questioned whether people on hand for live and simulcast racing would account for 15 percent - $25 million of $164 million - of slot machine income..."

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