study committee preservation of the hope scholarship program
TRANSCRIPT
National Thoroughbred Racing Association
Membership includes:
• Racetracks
• Owners
• Breeders
• Trainers
• Horseplayers
• Affiliated horse racing and breeding associations
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Advantages of Horse Racing
• Highly entertaining, social activity
• Labor intensive agri-business
• Passionate fan base – everybody loves horses
• Challenging intellectually
• Prestigious ownership opportunities
• Environmentally friendly
• Beneficial federal legislation - IHA
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U.S. Horse Racing Metrics
• 50 million 50 million fans
• 7 million 7 million core fans who attend and wager regularly
• More than 60 60 Thoroughbred racetracks
• Nearly 90%90% of all money wagered is bet remotely on televised races
• More than 1,0001,000 off-track wagering sites
• Only U.S. sport to conduct legal online wagering, now a $3 billion$3 billion market
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HorseplayersNational Handicapping Championship
• Average age 5252
• Highly educated (21%21% graduate degrees)
• Affluent (average income $117,000$117,000)
• Inclined to travel and wager
• Attracted to the intellectual challenge
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Horse Racing Globally
• Global sport present in 6060 countries
• U.S. horse racing accounts for about 14%14% of global wagering
• U.S. a leader in race horse breeding worldwide
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Horse Racing Big Events• Triple Crown stronger than ever
– Attendance at the Triple Crown events was 392,193392,193 (including record KYD and PREAK)
– Handle on the Triple Crown was $413 million $413 million – NBC TV viewership for Triple Crown was 46.9 46.9
million million
• Strong race meetings coast to coast – Keeneland– Saratoga– Del Mar
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Horse Racing Big Events
• Breeders’ Cup World Championships
– 22 days, 15 15 races, $26 million$26 million in purses
– 100,000+100,000+ attendees– Best horses, trainers, and owners from
across the globe – Culmination of Thoroughbred racing’s
season– Often decides Horse of the Year and other
prestigious Eclipse Award categories
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Horse Racing Big Events
• Breeders’ Cup 2013 Economic Impact
– Total direct spending $39.5 million $39.5 million
– Total economic impact
• $64.9 million $64.9 million in business sales,
• 532532 full-time equivalent jobs, and
• $25.9 million$25.9 million in labor income, including indirect and induced impacts
• $4.8 million$4.8 million in state and local taxes
• Source: Tourism Economics study of 2013 Santa Anita, CA event
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Racing Industry Jobs
• Track employees
• Breeding farms
• Trainers
• Grooms/hot walkers/exercise riders
• Jockeys/Drivers
• Veterinarians
• Services and suppliers (e.g. farriers, feed)
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Economic Impact of Horse Racing Industry
• $11 Billion$11 Billion Wagered Annually Nationwide• $90 Billion$90 Billion worldwide
• 375,000375,000 horse racing jobs nationally
• $37 billion$37 billion in economic activity
• $1.9 billion$1.9 billion generated in tax revenue
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Economic Impact of Georgia Equine Industry
• ≈≈173K173K Georgia households own horses
• Contributes $868.7MM$868.7MM to Georgia Economy
• 6th6th most valuable commodity in Georgia
• All horses valued at $413MM$413MM
• Roughly 3.5%3.5% of all Georgia commodities.
• Source: GA Agricultural Commodity Commission for Equine (2008)
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Why Does Georgia Need Horse Racing?
• Georgia breeders and owners now raise their horses in
Florida, South Carolina or Kentucky
• Georgia racing fans are visiting racetracks in Kentucky,
Florida, Louisiana and elsewhere
• Atlanta is the largest metropolitan area in the U.S.
withoutwithout a racetrack (NYC, Los Angeles, Chicago,
Dallas, Philly, Houston, Washington, DC, Miami)
• All of these factors are costing Georgia jobs, All of these factors are costing Georgia jobs,
tourism and related tax revenuetourism and related tax revenue
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