Belinda Stronach: Pegasus Could Expand to Other Tracks

The Pegasus World Cup Invitational Series may consist of just two races—albeit two rich races with a combined $16 million in purse money—but it involves a full year's worth of effort. For Belinda Stronach, chairman and president of The Stronach Group, and everyone else associated with Gulfstream Park and the parent company, the Jan. 26 grade 1 stakes are a culmination of many hours of planning and formulating to create what serves as North America's richest dirt and turf races.

With the third edition of the Pegasus in the books, Stronach, widely known as an international business leader, philanthropist, and a two-term member of Parliament in Canada, met with BloodHorse correspondent Bob Ehalt Jan. 25 to discuss the growth and future of the series.

BloodHorse: As the Pegasus World Cup completes its third year, what have been your biggest sources of satisfaction and disappointment since its launch?

Belinda Stronach: Overall we're very satisfied with where we are at today. Having said that, I think this team is always looking at innovation and how we can improve things. In year one we came out with a bang and we wanted to make a global impression, setting up the world's richest horse race. We learned quite a bit from what we did with a $12 million race from the various stakeholders and owners. But the guest experience was great, and we established very good relationships with the Miami community that we brought into the event so that it became more of an event than just a horse race.

We refined the model last year in a $16 million race, and we added the turf race this year. The goal is to continue to increase the global nature of the Pegasus World Cup Invitational Series, and it's fantastic that we have horses not just from the United States, but Canada, Mexico, Japan, and Europe. We are excited about that as well as the depth of the fields and the horses running on the card.

The weather can sometimes be a disappointment. The first year, the weather we had was amazing, but last year it was a little windy. Weather is always a challenge, as you know from last year's Preakness.

BH: How would you describe the Pegasus' impact on the sport in a short amount of time?

BS: It has become a very prestigious event in terms of the contenders and the owners. It has also been very positive in that horses who would have retired, continued running. Other people have raised the stakes, such as the Everest (in Australia) or the Dubai World Cup (G1), by trying similar things or increasing their purses to create more interest in their races. If new opportunities and investment happen in our sport, it's a good thing.

One of the challenges for our sport is: How do we attract young people and make them enthusiastic about attending a horse race? For us, it's about entertainment, innovation, and quality horse racing.

BH: Are you pleased with the response to this year's format of dirt and turf races and the $500,000 buy-in?

BS: The feedback we're getting is really positive. Some of the owners we spoke to love the changes we made. They love the introduction of the turf race, and so do the fans.

BH: What changes do you anticipate for 2020, and what is the key area for improvement?

BS: Working on the Pegasus has become a year-round exercise, so we are building our resources to get ahead of the curve sooner.

With the Pegasus World Cup Invitational Series that we've now established, we'll take guidance from our racing experts led by (Gulfstream president and Stronach Group COO) Tim Ritvo and his team in terms of how we can complement the races we currently have and eventually become a full day of racing. The possibility exists that we use the Pegasus to add to the racing at our other tracks. In Maryland, we're looking at what best suits the racing calendar. It's the same thing with Santa Anita. We may create a marquee race there.

Our goal is to grow more races. I can see a filly race. There's no reason we can't have additional races in the Pegasus series. They don't all have to be here at Gulfstream. We are also working on a new wagering app that simplifies wagering for beginners and also works well for sophisticated bettors.

BH: Can you envision a day when the Pegasus will be conducted at Santa Anita, or does it have a permanent home in South Florida?

BS: I can see the Pegasus World Cup here, but that doesn't mean we will not add derivative races at Santa Anita. It would be branded a Pegasus race, but it will fit in with the Santa Anita calendar. We're looking at things such as making some races 'Win and You're In' for the Pegasus. I believe there's a sense of ownership that the Pegasus has with Miami. 

BH: Do you view the Pegasus as a race or an event?

BS: It's definitely an amazing race, but we view it as a great event with a great race. They go hand-in-hand. One without the other wouldn't work. There's no question it's a great race and the race is the centerpiece of what we're doing, but we want to amplify the race and publicize it, and that's where the hospitality and entertainment comes in. But we've never lost sight that at the heart of this, there's the competitive field and quality contenders in the race.

BH: Are you pleased with the way the local and nearby communities have embraced the race?

BS: I am 100% pleased with that. It's been fantastic. We have great local partners such as Neiman Marcus or David Grutman with the hospitality. Once the community becomes more familiar with the format, it will only benefit racing. It's becoming a must-attend event in the Miami-South Florida area, and that's a good thing because even if you have not been to a horse race, we're going to introduce you to horse racing and will make it a really fun experience and, hopefully, you will come back.

BH: Given the size of the crowds for the first two editions of the Pegasus, could permanent seating be added at Gulfstream Park and perhaps even bidding for the Breeders' Cup if that happens?

BS: What we've done with this property at Gulfstream Park, which is bigger than Central Park in New York, is to undergo a master planning exercise to look at the entire site. How does the racetrack become an amenity to the development and how does the development enhance what we are doing at the racetrack?

So, what we are working on now, and one of our top priorities here, is to have a hotel adjacent to the grandstand. And for marquee events and race days like the Pegasus, we can work with the hotel and use its platforms and use hotel rooms as suites to increase our capacity. We'll also see how sports betting winds up so that we have a sports book that can complement the horse racing book so we don't lose those customers.

As for the Breeders' Cup, in the short term, it's a stretch. You never say never, but we need additional spaces. Laurel is definitely on our horizon for the Breeders' Cup.

BH: Are there lessons racing executives outside of The Stronach Group can learn from the growth and development of the Pegasus?

BS: We're learning all the time, and our focus is customer-driven. What does the customer want and how can we cater to customers and create a whole new generation of customers?  That's what drives us. We've been very much focusing on the guest experience. Our team continues to put on great horse racing, and we're adding to that a great front-end experience and digital advancements as well so that we can speak to our customers.