NYRA Reorganization Board Recaps Saratoga, Reports Strong Financials

During a Wednesday meeting in Midtown Manhattan, the New York Racing Association’s Reorganization Board of Directors recapped a successful Saratoga meeting and reported strong financial performance year-to-date.

NYRA CEO and President Christopher Kay said that the total handle at Saratoga was $656.1 million, a 14.1% improvement over 2014 and easily broke the previous handle record of $590.1 million set in 2012. There was also record on-track handle of $157.6 million, a 4.8% increase over last year. This also established a new record, eclipsing the previous high of $150.6 million in 2012.

Kay also reported that NYRA saw an increase of 13.8% in revenue from dining, concessions and merchandise over the course of the meet.

“Over the past two years, our efforts to enhance the overall experience and improve the quality of racing are clearly resonating with our horseplayers, our fans and with their families,” said Kay.

Since 2013, a plethora of capital improvements have been undertaken on the grounds at Saratoga with the goal of enhanced customer experience. Some of the additions and upgrades unveiled during the 2015 season were the Saratoga Walk of Fame; the Tom Durkin Replay Center; and a revitalized Lower Carousel and new Fourstardave Sports Bar. Better than 2200 reservations for tables in the sports bar during the course of the meet.

Kay also indicated that the momentum generated at Saratoga has carried over to the Fall Championship Meet at Belmont. Daily all-sources handle through Oct. 18 is 5.4% ahead of the 2014 figures through 28 race days.

The next board meeting is scheduled for Dec. 9 in New York City.