Profits from Slot Machines Help Purse Improvement at Philadelphia Park

Profits from the slot machines permitted the Philadelphia Park Casino and Racetrack to raise their purses by 20% beginning on July 14, 2007 at the Pennsylvania Racing Track. This is the second purse increase made by the racing track.

In January 2007, the horse racing purses improved from $125,000 to $175,000. This time around, the horse racing purses will improve from $175,000 to $210,000, the biggest purse in horse racing history.

Philadelphia Park opened in 1974 as the Keystone Race Track. Sal Sinatra, the Director of Racing at Philadelphia Park, commented that with the purse increase, they hope to address some of the key problems with their horse races. The horse racing track also announced that some of their racing stakes' purses have improved as well.

Like the Turf Monster Handicap on September 3, 2007, which will jump from $150,000 to $200,000; the Larry Riviello Presidents Cup on September 5, 2007, which will improve from $150,000 to $200,000; the Fitz Dixon Cotillion Handicap on September 22, 2007 (gr. II), which will improve from $500,000 to $750,000.

The other tournaments are the Gallant Bob Handicap on September 29, 2007, which will improve from $150,000 to $250,000; and the My Juliet Breeders' Cup Stakes, which will improve from $150,000 to $300,000 including a $50,000 Breeders' Cup Bonus for the winner.

According to the figures released by the Pennsylvania State Racing Commission, although the horse race purses increased $85,000 per day since January 1, 2007, the pari-mutuel handle at the Philadelphia Park has slid down.

From January 1, 2007 to April 30, 2007, the pari-mutuel handle on live products slid down 21.5% from $8,911,039 from the same time in 2006 to $6,988,149. The total handle slid down 13.5% from $29,459,316 in 2006 to $25,468,581.

Monday, 06 August 2007
Kori Woffendin