Louisiana Breeders' Award Rate Reduced

Citing some revenue reductions, as well as the success of the program itself, the Louisiana Thoroughbred Breeders' Association has informed members that breeder award rates will be cut by 2% later this year.

In a Dec. 31 letter, LTBA secretary-treasurer Roger Heitzmann III informed members that the breeders award rate being paid to accredited Louisiana-breds will be cut from 20% to 18% beginning with the Evangeline Downs meet that opens April 6.

Heitzmann noted that over the past several years revenue sources have been down because of declines in handle, less slot play, less video poker play, and reduced off-track betting. Also during that time, the program has been paying out more awards thanks to increased participation in the program and improved quality of Louisiana-breds making more horses eligible for the awards.

"Just think of where we were about a dozen years ago. We were lucky if two Louisiana-bred races were carded a day," Heitzmann wrote. "We seldom recorded a victory in an open race. Today we witness Louisiana-breds win consistently five to eight races a day at our racetracks in both restricted and open races, including graded stakes."

Heitzmann noted that the LTBA has been using reserved funds (accumulated earnings from previous years) to carry the overpayment of breeder awards and noted that reducing the percentage to the awards was difficult to make.

"The board of directors understands that this is not an easy pill to swallow," Heitzmann said. "However the board will continue to work hard to ensure the incentives we have, and strive to improve the future for the Louisiana Thoroughbred breeders. We continue to have, and intend, to keep one of, if not the, most comprehensive breeders' award programs in the country."

Any program horse finishing first, second, or third in-state currently receives an award at the rate of 20% of the earned purse (purse capped at $200,000). Any program horse finishing first, second, or third in a stakes race outside the state (purse capped at $200,000) also earns the award.

The LTBA will also add a purse cap of $50,000, with the exception of stakes races, for awards earned out of the country. The breeder will now have the obligation to report, before year's end, to the LTBA office horses running out of the U.S.