PARI-MUTUEL GROWTH DEFIES INDUSTRY TREND: HANDLE UP 11.7%

1/11/2012 12:00:00 AM

SARATOGA SPRINGS, New York (January 11, 2012) – Despite an industry-wide decline of 5.5% in wagering dollars for 2011, Saratoga Casino and Raceway (SCR) reported an overall increase in all source handle of 11.7% after the close of their 70th season on December 11. Wagering from simulcasting on thoroughbred and harness products, as well as on live racing, reached $61 million compared to $55 million in the previous year. This increase is in stark contrast to the industry declines of 7.3%, 9.9%, and 7.2% in 2010, 2009, and 2008 respectively.

According to John Matarazzo, Director of Racing Operations at SCR, the substantial increase which bucked the trend was a direct result of additional handle generated through their interactive wagering platform called SaratogaBets. There was increase in wagering on the raceway’s live product in simulcasting outlets in the U.S as well.

"Launching the platform has enabled us to expand into other markets and offer an additional wagering option to current customers. At a time when customer loyalty is at a premium, it is important that we provide our customers with all the tools they need, and SaratogaBets has allowed us to do just that," Matarazzo said.

As a result of additional dollars wagered through the platform, overall handle was up 7% on products simulcasted into SCR over 2010.

SCR also showed a major increase in wagering on its own harness product through external simulcasting outlets. Handle from these outlets exceeded $24 million in 2011, up 25% from 2010.

"Our races are now broadcasted to over 100 outlets in the U. S. and abroad. The influx of purse money through VLT’s has improved the quality of our product. It’s attracting better-quality race horses and top tier trainers and drivers. As a result, we have more global fan appeal," Matarazzo stated.

The raceway expects continued growth in 2012.