Purse Accounts

As a service to Indiana horsemen, Indiana Breeder & Owner Protection, Inc. will provide specifics on updates to the purse accounts at Indiana's two race tracks as this information becomes available.

Below you can find the contributions and subtractions from the purse accounts for each of the three breeds and from both tracks. Rather than summarize all three breeds, we are using the thoroughbred purse accounts as our example. For slot revenues and simulcast revenues, the proportional changes are the same for each breed as those revenue streams are formula based. The live racing revenues (On-Track & Export) will, however, be different for each breed.

Slot Revenues to Thoroughbred Purse Accounts

2014 Through September = $10,191,674
2013 Through September = $10,189,652
Net Change = $ 2,022 +.02%

Comments: Due to the brutally cold weather conditions in January, 2014 slot revenues began the year down an astounding 36% from January, 2013. While most months at both tracks have been below 2013 revenue figures, changes in the slot legislation have impacted 2014 positively when compared to 2013. At Indiana Grand, due to statutory caps in the revenues to horse racing, there was no funding to the purse accounts in either April and May (payable in May and June) in 2013. Without those caps, each month provided a positive to the purse accounts at Indiana Grand. Also, changes in the slot legislation removed the smoking cessation fee ($3 million) and the gaming integrity fee ($500,000) from being taken from the horse racing allocation of 12% of adjusted gross receipts from June, 2014 (payable in July). This allowed an extra $3.5 million to flow through the funding formula for horse racing interests in 2014 that was not available in 2013. Both of the legislative changes have impacted purse account revenues to offset the slow start to the year. In other words, so far, 12% of adjusted gross receipts in 2014 has provided more revenues than 15% of adjusted gross receipts did with statutory caps in 2013. However, each racino can now deduct up to $5 million in 'free play' from adjusted gross receipts this fiscal year (July to June) which will have a negative impact on revenues to horse racing the balance of the calendar. In August, year-over-year slot revenues for 2014 were 3.31% ahead of last year's pace.

Simulcast Revenues to Thoroughbred Purse Accounts

2014 Through August = $1,427,614
2013 Through August = $1,513,403
Net Change = $ -85,789 -5.67%

Comments: The general trend across the country is that wagering on horse racing is down. According to Equibase, total wagering on racing in the United States is down 2.32% through September.

Export of Live Racing Revenues to Thoroughbred Purse Accounts

2014 Through August = $1,254,265
2013 Through August = $1,463,940
Net Change = $ -209,675 -14.32%

Comments: With the beginning of this year's flat racing meet at Indiana Grand being early May instead of mid-April, revenues appear to be down significantly. Also, the first part of the meet there were only four race days per week which expanded to five days the latter half of the meet. A better comparison of export of live racing revenues will be in November when the meet concludes.

Live On-Track Wagering Revenues to Thoroughbred Purse Accounts

2014 Through August = $231,720
2013 Through August = $266,385
Net Change = $-34,665 -13.01%

Comments: With the beginning of this year's flat racing meet at Indiana Grand being early May instead of mid-April, revenues appear to be down significantly. Also, the first part of the meet there were only four race days per week which expanded to five days the latter half of the meet. A better comparison of live on-track wagering revenues will be in November when the meet concludes.

Indiana Grand Race Course Thru September 2014

Thoroughbred Purse Account - http://freepdfhosting.com/c47aa7122f.pdf
Standardbred Purse Account - http://freepdfhosting.com/f6bd66d333.pdf
Quarter Horse Purse Account - http://freepdfhosting.com/153268107b.pdf

Indiana Downs Thru December 2013

Thoroughbred Purse Account - http://freepdfhosting.com/d60c7df8c1.pdf
Standardbred Purse Account - http://freepdfhosting.com/59291d3bdd.pdf
Quarter Horse Purse Account - http://freepdfhosting.com/4f6dde1ce8.pdf

Hoosier Park Thru September 2014

Thoroughbred Purse Account - http://freepdfhosting.com/45bf9e75f2.pdf
Standardbred Purse Account - http://freepdfhosting.com/290c3932e9.pdf
Quarter Horse Purse Account - http://freepdfhosting.com/406763558d.pdf

Hoosier Park Thru December 2013

Thoroughbred Purse Account - http://freepdfhosting.com/44b468a99e.pdf
Standardbred Purse Account - http://freepdfhosting.com/00c4d542f5.pdf
Quarter Horse Purse Account - http://freepdfhosting.com/dd98f14f33.pdf

Please Note: All purse account figures are unaudited according to the Indiana Horse Racing Commission.