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|Everything Greyhound > Greyhound Discussion > Florida Gambling Impact Report|
|Posted by: galgoman Sep 4 2013, 05:58 AM|
| A recent gambling impact study was presented to the Florida legislature I think the conclusions are pretty clear. Greyhound racing continues at this point because of the "coupling" laws in place currently but if the gaming industry would have it's way racing would be greatly reduced if not eliminated entirely. Quotes from the report:
"Greyhound racing, which is Florida’s most widespread form of pari-mutuel racing, is clearly in serious decline.
Repealing the 90 percent rule, or “decoupling,” could result in the closure of five to six greyhound tracks, according to operators we interviewed. Those facilities would still like to operate cardrooms, as they are profitable, but they cannot as current law states that a cardroom can only be operated at a licensed pari-mutuel facility that offers live racing. Top-tier tracks such as Naples-Fort Myers and the Palm Beach Kennel Club will benefit through higher simulcast revenue if other tracks were to close.
It is clear that pari-mutuel operations at greyhound tracks are loss leaders as the tracks sustained a combined operating loss from wagering on greyhounds of $35 million. Only three tracks made a profit. Greyhound track cardrooms offset the loss with an operating profit of $39 million.190
“It is a dying sport,” said Michael Glenn, general manager of the Palm Beach Kennel Club, one of the country’s premiere greyhound tracks. “Decoupling (removing the requirement for minimum performances) will help us in the short run as we would run fewer races which, in turn, will lower our operating costs. Our simulcast revenue will also increase, but there just are not enough folks out there to come to the track and wager on these races. There is not any interest.” PBKC would shut down the dog track if it could, Glenn said.
Jamie Shelton, CFO of Jacksonville Greyhound Racing, agrees with Glenn. He said that no matter what efforts are made to prop up the sport, interest is not there. “We can see it by our live handle. The older folks are not being replaced,” he said. “There are just too many other things to do out there today. Watching a greyhound race is not at the top of most people’s agenda.”
|Posted by: dad2paisley Sep 4 2013, 12:25 PM|
|This has been going on for years. Evey time I go to the track it's crazy busy.|
|Posted by: galgoman Sep 4 2013, 12:49 PM|
I'm not sure what they were busy doing but it must not have been busy wagering on races because the numbers don't lie. All but 3 tracks in florida lose money on racing and the 3 who do make money, make very little. But for a law that allows cardrooms, that do make money, most if not all of the tracks in florida would probably be forced to close. When the general manager of the Palm Beach KC says: if they could they would close down the track, that says about all you need to know. To ignore the facts and assume things are going to be fine and get better is like whistling past the graveyard.
|Posted by: dad2paisley Sep 4 2013, 01:00 PM|
| Crazy with people wagering on the dogs. Maybe the manager has other motives. Don't think they close down any FL tracks esp the ones that do good turnout.
I also go in the card/poker room and there not that busy either. They should mention that too.
Remember the economy is still recovering and when people get more spending money, they'll be back.
|Posted by: greydaddy Sep 4 2013, 01:17 PM|
|I don't believe that report. Probably from Grey2K.|
|Posted by: galgoman Sep 4 2013, 01:54 PM|
Ignorance is bliss. This report was commissioned by the Florida State Legislature and done by one of the largest gambling research and consulting firms in the nation. It was presented to the legislature about a month ago. They are just analyzing the numbers, interviewing those in the industry and making an assessment of the economic impact of gambling in the state. They have nothing to do with grey2k. You can't blame everything on grey2k.
|Posted by: dad2paisley Sep 4 2013, 02:47 PM|
|Grey2K - Lobbyist group. I am sure they had there hands in the research somehow.|
|Posted by: galgoman Sep 4 2013, 03:22 PM|
Get serious. Yes grey2k lobbies just as the greyhound racing association lobbies. Both sides were interviewed by the consultants and the pro racing lobbyist were quoted and had a chance to defend their position. No one was quoted from grey2k, just a statement of their stand against racing.
This was a 300 page report covering every form of gambling in Florida and it's impact on the economy. Greyhound racing covered about 2 1/2-3 pages of the report which says something in itself. All of you that keep pinning every problem in the industry to grey2k are blind to the facts. The gaming industry is a multi, multi billion dollar industry that is transforming the modern leisure and entertainment world. Gambling has taken on so many new forms since greyhound racing was at it's peak that it is being squeezed out of the market place. It's as simple as that. As soon as the gambling lobby in florida that wants to eliminate racing and expand other forms of gaming on those properties gets their way, which they eventually will, tracks will be closing. I guarantee you that if a massive casino floor full of slots and table games sat on the property that now holds a track, the choice of which the owner would want is a no brainer.
|Posted by: HoundIsle Sep 4 2013, 06:09 PM|
| The latest reports from Fla.’s Division of Pari-Mutual Wagering show a increase in “live” handle for this year over last year. One example is Orlando (Penn-Sanford) which only has Greyhound racing, no slots or a card room has had a increased their handle. The points paid at Orlando are UP significantly from this time last year. The handle for Aug was UP $400,000 from last year with one LESS card per week.