Jockey club slashes purses, cuts stakes races
by David Ginsburg, The Associated Press
http://www.usatoday.com/sports/horses/2007-06-12-maryland-cutbacks_N.htm?csp=34

The Maryland Jockey Club and the Maryland Thoroughbred Horsemen's Association have agreed to reduce purses at every level by $2,000; cut the number of races during the fall meeting; and drop the stakes schedule by approximately $1 million.

"It's just the reality of the situation. We knew there would be a shortfall, and we had to do something," Lou Raffetto, president and chief operating officer of the Maryland Jockey Club, said Tuesday.

Raffetto said the action would not influence the Preakness, which is held annually at Pimlico Race Course in Baltimore on the third Saturday in May.

"This is a short-term solution for the balance of the year," he said. "It has no impact on the Preakness whatsoever."

There was discussion about cutting 12 racing days off the fall meeting at Laurel Park, but that measure was tabled.

"The negotiating committee came up with the idea to reduce the purses," said MTHA president Richard Hoffberger. "Lou came up with the idea to reduce the stakes schedule. The combination of those two things allowed us to continue a year-round racing schedule without cutting days."

Seventy-eight days remain on the Maryland schedule. Pimlico completed its spring meeting last weekend, and Laurel Park will begin its 10-day summer meet Aug. 10. After the Timonium State Fair stand concludes on Labor Day, the 17-week fall meeting will be conducted at Laurel beginning Sept. 5.

The Maryland racing industry has been petitioning the state for years to allow slot machines at state tracks, contending that fans are leaving Maryland to play the slots and bet on horses at tracks in Delaware, West Virginia and Pennsylvania.

The Maryland General Assembly allotted the racing industry money for purses in 2007, but it turned out to not be nearly enough. Without more money, Maryland tracks will be forced to cut dates in 2008.

"That is something we will no doubt have to do come the first of the year unless the legislature holds a special session to deal with slots and a purse subsidy," Raffetto said.

He said a subsidy, however, would be little more than "the proverbial Band-Aid."

"What we need," Raffetto said, "is a long-term solution that will enable us to compete on a level playing ground with those states that now have slots."

Though the Preakness drew a record crowd of 121,263 last month, the Maryland Jockey Club reported Tuesday that wagering figures for its spring meeting were 7% lower than in 2006.