Handle on U.S. Races Down 3.66% in February
Image:
Description:
After an encouraging start to the year in terms of pari-mutuel wagering in January, handle on U.S. races plummeted in February compared with the same month last year, dropping 2015's handle behind last year's pace.
In February, pari-mutuel handle fell 3.66% to $763,403,451 when compared with the same month last year, according to industry economic indicators released March 4 by Equibase. Those declines followed an encouraging month in January, when handle was up 1.52% compared with January 2014. But the February declines mean year-to-date handle is down 1.06% to $1,575,985,375 when compared with last year.
Some of the February handle decline on U.S. races can be attributed to a 1.42% decline in race dates to 277 and 2.98% decline in races to 2,341. In February, tracks cancelled either their entire cards or the majority of their cards 42 times because of bad weather.
Also likely impacting handle is a continued dispute over simulcast rates that is keeping signals from Stronach Group tracks, and others, from being offered at simulcast venues represented by the MidAtlantic Cooperative.
Along with the 2.98% decline in total races in February, there was a similar decline in U.S. purses for the month, down 2.57% to $60,854,668. For the year, purses are down 2.19% to $126,881,597.