• Posts Tagged ‘race’

    Should Race Tracks Get Funding from Slots

    Friday, December 31st, 2010

    There is a new question in the market of gaming. For a few months now race tracks around the country have been looking for slot machines to save them. The racing market has suffering greatly since the recession. Overall it has taken one of the biggest hits of all the industries in the market. People during the recession lost their jobs in record numbers and this put them at the mercy of cutting back on personal finances. They had to focus on paying necessities and had no residual income to pay for luxuries or hobbies. That immediately cut gambling and vacations out of their budgets indefinitely. Now that the recession is over, people have returned to casinos in smaller numbers and are once again wagering at slots games. They are not however, returning to the race tracks. People are still holding out and this is putting a further strain on the entire market. Race track owners are hoping to bring slots to their gaming floors in an effort to draw more people in. There is a problem though.

    Many experts are saying that the world of horse and dog racing is dying a slow and painful death and legislators should just put it out of its misery already. Race track owners are worried because they are finding it difficult to get legislators to agree to bringing in slots. They also suggested that they get financial stimulus from the government. This is causing more debates because people are stating that the government has a lot of other things that are more important to prioritize. For one, job creation is a primary goal of residents of the US. They still aren’t seeing enough job possibilities to take advantage of and that is making them uncomfortable with the government fueling millions into a dying industry. Whether or not race tracks will receive assistance in the form of millions of dollars has yet to be seen. It is going to be a fight to get the money and an equally difficult fight to reinvigorate the entire market. Only time will tell what happens, but slots could once again be instrumental in bringing in the revenue needed to change the market.

    Check Out Frankie Dettori’s Magic Seven Slots

    Friday, December 31st, 2010

    If you are a fan of racing then most likely you know who Frankie Dettori is. He is of course an Italian jockey who won so many races as a jockey, that he is considered to be one of the, if not the best jockey in the world. He has a reputation for greatness in the market and has enough awards to prove it. Now that he made such a huge name for himself in the market, he has been gifted with a self-named slots game. This time it is Frankie Dettori’s Magic Seven game that pays homage to his seven wins as a racer. The game is a five-reel game that comes along with twenty-five paylines to enjoy. There is a bonus game, free games, wilds, scatters and a Magic Seven bonus. Overall this is one of the most complete games you are going to find in the slots market today. Of course this is a game that you are going to love if you have an affinity for horses or horse racing. The symbols on the game are all a likeness of something you would find at the tracks. You are going to find pictures of Dettorri himself, gold cups, horseshoes and a race track. Your job is to bring some luck to the slots game and make matches. If you do, you will be thoroughly rewarded.

    Frankie Dettori’s Magic Seven game is one that offers you a great chance at a special win. If you manage to get the bonus track on the first and fifth reels, you get to play the Magic Seven bonus feature. In this one, you get to pick the position on the racetrack you want to play. If you win the game, you get a multiplier bonus for the game. You can win up to seven times your wager here. You also can get to the free game bonuses when you get three or more scatters lined up. This is a game that comes with a lot of visual appeal. You are going to love the symbols and how dynamic and rich they are. Overall this is one of the best racing themed games you are going to find, so test it out. Most likely it is going to be one of your favorites right away.

    IL Legislators Looking to Combine Slots and Race Tracks

    Thursday, December 30th, 2010

    Illinois is yet another state that is investigating the possibility of bringing slots gaming in for the purpose of added revenue. It is no secret that gambling is a billion dollar business that comes with a long list of advantages if managed properly. Despite other lagging industries, gambling is showing a huge growth rate in past months and showing no signs of slowing down in the future. Although people have had to cut back due to the recession of the past few years, they haven’t stopped wagering completely. The only real shift was to lower-wager requiring games; still people kept on wagering though. This is a sign that gamblers are not planning on leaving the hobby despite their lagging revenues. They will cut back, but they won’t eliminate the activity completely. This is a great sign for the market because they know that it means that they can continue to bring in millions of dollars a month in tax revenue dollars.

    Illinois is pushing for some gambling changes. The state has a race track industry that is lagging. Since the recession racing has not come back to what it was before. People cut back on gambling, but left racing bets altogether. Most race tracks throughout the world are still trying to reinvigorate their markets. Without some discernable changes, they are going to suffer to the point of possible extinction in the near future. Lawmakers for the state of Illinois though are trying to bring change in. they want to write code that would legalize slots gaming for the benefit of revenue generation on one hand, but also to help the racing industry revive. They would combine the two activities in the hopes that slots would allow race racks to bring in the numbers they once had. Though people may not start wagering on races right away, the race track owners could still start building their businesses thanks to slots gaming. Only time will tell if the discussions by state lawmakers is going to build to something reliable, but if it does then the state should be able to take advantage of the huge dollars that gambling brings into every market it touches.

    Penn National Brings Slots to Racetracks with Ease

    Thursday, December 30th, 2010

    Penn National is doing a great job at developing its business. If you know anything about gaming, then no doubt you have heard of the company’s name. If you are involved in Maryland at all or its politics, then you have definitely heard of Penn National. The company of course is a developer of land based gaming and has brought hundreds of casino projects to various markets all over the world. Its latest project was to work with Maryland state officials to develop a slots gaming plan. It was the Maryland Jockey Club is the location Penn National has worked with most recently. Now the company wants to bring a slots parlor to the market. Slots of course are the most lucrative games you are going to find in casinos today and that is what is making them so popular with developers.

    In the world of racing, more companies than ever are trying to use slots to turn their own revenue streams around. The market of racing has suffered greatly in the past few years. It was the recession that took its hardest swing at race tracks and has not let up since. Racing operators are worried about their market, believing that there is little more they can do to revive the market. They have tried in the past to come up with various promotions that would allow for more potential income possibilities. So far not a whole lot has worked though. The one thing that is working for other race tracks though is creating a slots parlor/race track combination. The term used for the new hybrid is “racino.” It is the perfect combination of race track and slots parlor. There have been a few success stories with the combination and now Maryland race track Laurel Park wants to do the same thing to revive its own market. it could take a lot to change things and Penn National is the company with enough power and resources to continue to built change in the Maryland racing market. Only time will tell what happens, but don’t think that Penn National will push hard for the changes needed—the company is a leader in development and most likely will come up with yet another plan for change to the state’s racing market.

    Slots and Race Tracks Combine

    Monday, December 27th, 2010

    In the world of racing, the numbers have been drastically down since the recession. People slowed down considerably on gambling, but cut race track wagering almost completely out of their budgets. They had to– no one can blame people for cutting back, but it has made it difficult for race tracks to survive. Many of them around the country have pulled out of the market completely and most others have had to cut back on races. With smaller races and as a result smaller purses, it has been difficult to drum up business like race tracks once did. In an effort to turn things around race tracks all over the country started to petition for government approval to bring in slots gaming. They hoped that the slot machines would bring in the revenue needed to maintain their businesses and also to increase their racing purses. This would bring in more gamers too. It is no secret that the bigger the purse, the more exciting the race. The more exciting the race, the more people are willing to participate. Overall it is a win-win situation for everyone involved.

    Race track owners are ecstatic about the changes and possibilities of turning their markets around with slots. They believe that the games are the single most important element to evolve their own businesses as the market continues to struggle. Still- some legislators are not convinced that slots are the key. They are holding off on the changes thinking that there could be more problems if they aren’t careful about things. Though this is a cautionary tale, race track owners are not happy. The more time it takes for legislators to approve their slots, the more time they are left to struggle on little to no viable income streams. It is difficult for them to turn things around and come up with other plans while legislators debate their cause out. Plus for legislators it isn’t a priority. They have other issues on the table that are well ahead of debating the question of allowing race tracks to bring in slots gaming. Race track onwers are trying to hold on, but having problems.

    PA Announced Racetrack Numbers Down

    Sunday, December 5th, 2010

    Race tracks for the longest time now have been suffering due to diminishing numbers. More and more race tracks are closing and the ones that are remaining viable, are having a hard time sustaining themselves. The hard fact is that people stopped wagering when the recession first happened. They were concerned with their own finances and making their monthly bills, rather than spending money at the local casinos. This included race tracks and track owners saw their numbers declining in huge ways. In fact, a few race tracks posted immediate declines of up to 70% in revenue over a 60-day period. It seemed almost immediate that the declines in gambling numbers went down for track owners. The Pennsylvania Gaming Control Board announced that race track numbers in the state are down by 25% since 2007. This is a sign of the market and how big of a hit it took due to the recession. Part of the problem is the rise in competition. There are other race tracks in neighboring states.

    The one saving grace that many race track owners are finding are slot machines. The games are lucrative and games are varied in design. The biggest asset it brings to race tracks is that it offers another way for casino owners to attract new customers. They don’t have to rely just on races to advertise. In addition, slots bring in millions of dollars. Those millions are being used to sustain race tracks and to build up better purses. This is one of the goals that many racetracks have not been able to create—good purses. Due to the diminished gaming numbers, owners have had to cut back on races and cut back on the payouts. Everything about races has been slimmed down. However if the race parks can find the slots to bring in numbers, they can use that to build up a better overall business plan. It will take time for race tracks to turn around, but there are good signs in the market. Slots are remaining steady with bringing in customers and that could be the one thing that race tracks are going to need to turn their economies around.

    Racino Owners Hopeful for Change

    Monday, November 15th, 2010

    A lot of areas are finding solace in the fact that slots can bring them revival. It seems that more than a few companies see how lucrative slots can be and are trying to make them useful when reviving their own markets. This has been the case since when slots first entered the market back in the late 1800s. The slots games were the ones that turned markets around. Bars and pubs almost immediately wanted to bring in the games to turn their markets around. They saw right away how much of a draw the games were and wanted them to help bring in more customers and keep customers in their establishments longer. The reality of business is the longer customers stay, the more money they spend. This is why it benefits them to create as many pastimes as possible for gamers to enjoy. It makes them more prone to continue wagering.

    The newest wave of gaming involves race tracks that are pushing for slots gaming to revive their markets. Race track numbers have been down considerably over the past few months and showing no signs of reviving. Their owners are hoping that they can breathe new life into the market with slots games but it is proving to be difficult. If you want to wager at race tracks, owners are hoping that the games are going to keep you there longer. They are creating slots parlors within their businesses to make it more exciting to wager. The new name for the dual businesses is called “racinos.” It is hopefully going to continue to bring in new gamers to their race tracks. This is the only thing that is going to turn things around for them and owners know that without slots, they most likely are going to have to shut down. Hopefully slot machines can turn things around and help race tracks sustain themselves. It may take some time though for gamers to start looking to race tracks for their slots parlors, but hopefully it will be successful. Without a sure turnaround, the race track market could be slowly pushed out of the market altogether.

    Race Track Owners Still Hopeful but Cautious

    Monday, November 15th, 2010

    The world of race track gambling is suffering financially and showing no signs of an immediate revival. Gaming companies all over are trying to brainstorm about what to do to increase the market. There is no viable option though. Race track numbers are seriously down and it is creating a lot of problems for operators. They are trying hard to bring in slots gaming as a means of helping the market but whether or not it is going to work has yet to be seen. Sure some markets have been saved by slots, but for every market that has found slots to be helpful with reviving their race tracks, there are three that aren’t. Slots are no longer a sure fire way for racing companies to turn things around for themselves. The Pennsylvania Gaming Board just announced that its numbers are drastically down. In fact, since 2006, the company has seen a decline by 25% of what their old revenues were.

    Despite numbers being down and slots being an iffy prospect, they are still one of the only ways race track owner have to try to salvage their businesses. It could take time to find them to be real and promote the gambling centers again. Many race track owners are not willing to just throw in the towel and rather would at minimum like to at least take a shot at saving their businesses with slots initiatives. The games are not completely without value because they have helped some markets to save their businesses. This means that these markets are ready to revive quickly. No one knows for sure what will spur the world of racing again but companies are giving it their best shot. They don’t want to close their doors just yet, especially if there is a chance that bringing in other forms of gambling could help them to return to their older revenue streams. It may take some time to figure out, but most likely the racing world is not ready to lay down for anyone just yet. There will be some push for revival and slots are providing it to the race track owners.

    Laurel County Race Track May Close if Slots Enter Local Market

    Friday, November 12th, 2010

    In a lot of ways slots and racing go hand in hand. Many gaming companies are looking to slots as a means of bringing in the cash they need for future growth and sustenance. It is no secret that race tracks have been struggling in the past and a lot of operators believe that slots are what are going to save them. Unfortunately Anne Arundel County’s slots parlor could mean the end of the local race track. Laurel County race park is planning on having a difficult time with competition if the market changes. If more people are opening up to the market regarding gambling, it could mean the end of the race track altogether. Most race tracks look to slots as a means of keeping their doors open, but that is no longer the case with gambling. if slots are a direct competitor for race tracks, most likely the race tracks will be stopped in their tracks. The Laurel County race track has long been suffering in numbers. It is located off of Fort Meade Road and the Bowie Training Center in Baltimore. The race park has been in operations just-short of a century and 1,000 horses are stabled there. It would be a monumental closing if the business had to close, but owners and operators are considering that this may be the only viable option for them in the near future.

    Right now it is Cordish Cos that is coming together to push forward with the plan for a slots parlor. The company’s owners are set to make a huge burst onto the market. Cordish Cos of course has done it before—the company had headed many different openings of gambling throughout the world. They know how to manage a premiere opening and take advantage of the longstanding love of gambling that people have shown for years. It could bring in huge dollars for the county and jobs. People love that advantage. Laurel Park officials though are not as positive about the changes. They know that it will take its toll on their own business that is struggling and showing no signs of revival any time soon.

    Race Track Afraid of Competition from Slots

    Monday, November 8th, 2010

    There may be another entity voicing their opinion on gambling in the Maryland market. This time it is the Maryland Jockey Club that is saying it will fight hard against gambling and namely the Anne Arundel Mills location. The horse race track is acting appropriately for their market when you listen to their argument. The world of racing is one of the markets that is not showing signs of revival any time soon. In fact, racing is one of the slowest turn-around markets in the news today. Since the recession, race tracks have been struggling. People cut back on two things during the recession- gambling at casinos and wagering at race tracks. Both put those industries in difficult positions and now they are still rallying for a change. Slots parlors are picking up and mostly relying on their lower-wager slots games to bring their revenues up, but race tracks don’t have that same luxury. Their operators want to bring in more affordable gambling options, but they can’t because of their overheads. To create better races, they need more capital to invest.

    Without customers that isn’t going to be easy to muster. They are trying to advertise more, but that is only making their budgets that much more weighty.
    This is why it is so appropriate that Laurel park race track is standing up against gambling in the state. They believe that if a slots parlor is allowed to be built, then their market will never improve. People who want to wager will venture to the slots parlor and their huge potential payouts and vast array of games, rather than stick to the race tracks and wager on the horses. This makes their market at the danger of complete destruction. Owners are fighting hard for the changes to not go through and are citing a vast list of additional problems that could occur as a result of a slots parlor being created in the market. Most of their arguments though are built on the creation of competition that they most likely won’t be able to overcome if the slots parlor is brought into the state at that location.