In the second installment of the TDN Business Hour, the conversation focused on one of the most vital components of the racing economy in America today: reliance on casino-funded purse subsidies. While states like Kentucky and Arkansas have seen a revitalization fueled by gaming revenue, other jurisdictions face an uphill battle. From the ongoing quest for subsidies in California to the defensive front against decoupling in Florida, the industry is at a crossroads.
What are the long-term benefits of these subsidies? At what point does the sport become too reliant on outside gaming? And is there a sustainable balance that ensures racing can stand on its own two feet?
Host Najja Thompson, Executive Director of the New York Thoroughbred Breeders, explores these questions with three industry leaders:
- Louis Cella (President of Oaklawn Park): The Cella family were pioneers in integrating HHR-style gaming, transforming Oaklawn Park into one of the most lucrative racing destinations in the country. However Cella's strategy extends beyond the machines. He has remained steadfast in improving the live race-day experience and wagering handle. He discusses his blueprint for success and what other tracks must do to remain competitive.
- Damon Thayer (Senior Advisor, Thoroughbred Racing Initiative): A leader of the HHR expansion project that revolutionized Kentucky racing, Thayer has recently turned his attention to the decoupling threats looming in Florida. Thayer analyzes the sustainability of the Kentucky model and the risks facing states if slot and gaming revenue were to vanish.
- Bill Nader (President and CEO, Thoroughbred Owners of California): After years in the thriving ecosystem of the Hong Kong Jockey Club, Nader has returned to the U.S. to lead the Thoroughbred Owners of California. He shares vital takeaways from the Hong Kong model and outlines his vision for overhauling the purse structure in California.
Watch or listen to the TDN Business Hour below. The podcast can also be found on TDN's Youtube, Spotify and Apple Podcasts.
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