Recession hits NYRA early and hard

Saratoga Springs, New York

Two days of rain and a marketing misjudgment have put the New York Racing Association so far behind its early 2007 figures that the meeting is unlikely to recover over by Labor Day.

The first two days of the 2007 meeting at Saratoga drew 62,123, a figure inflated by a bobble-head giveaway on the second day but scrapped this year, perhaps because it was working too well toward propping up what had been traditionally the slowest day of the meeting. Those people, whatever the real head count on day two, bet $27.86 million.

On two miserable, wet days, one without a giveaway, the total attendance here was 28,251 – 10,124 on the Thursday – down 54 percent from 2007. Betting handle on the races run here is down by $6.88 million in two days – 24.6 percent. NYRA Nation is suffering an economic slowdown from which it will be virtually impossible to recover in 34 days.

Even in good weather, further steep declines will be evident on days affected by the reduced number of giveaway days, always popular at this meeting. -- PM