Fairmount1 - Odd that you should bring up Canterbury as I wrote a long note to their CEO earlier this week since they are a publicly traded company. (CPHC - trading at $10.29 today. Believe they went public for something like $3/share but guessing at that. I am not a shareholder, but live in MN). The jest of the note was urging them, based exactly on the numbers you present, to take a risk on reworking how the game is managed today in the US. MJ noted their casino deal, most likely the sweetest possible casino deal you will ever find - at least for a few more years, giving them an unprecedented opportunity.

http://www.drf.com/news/canterbury-park-casino-agreement-give-meet-big-boost

They left the harness track completely out of this deal at the 11th hour by the way, so it seems others will be standing in line when/if the next deal is negotiated, which makes the current window more enticing.

I pointed out to him that the current numbers sustain the current purse levels or very close. So, what better time to be he maverick track, and as Boscar pointed out along with others on the board, (the casino's figured it out at 8% rake),lower the takeout to unprecedented levels that you know all of your competition CANNOT match. My suggestion was 8% takeout on pick 3,4,5's, and 10% on every other bet. You have 10 million a year to cover yourself if it does not work for the next 7 years, but it is the only way as Miff or someone mentioned to attract big enough bettors to make the pools viable. HANA rates them 29/62, and gives their simulcast signal an "F" I noted. They drew a season high attendance of 20,000 on July 3 for night racing/fireworks, but the per person average wagered was only about $48. Dollar hotdogs and beers, and camel races won't carry them into the future if their casino deal dries when this is what that crowd wagers. No doubt they have a young crowd, but they need bettors. Lower the take out and it seems likely a double in daily handle is well within reach, and now you also have Midwest competition from Arlington and Prairie Meadows over a barrel big time, and since they race at night during the week, could easily become the premier night track in the country. It would have to carry over some to the daytime weekend cards. Anything higher than double their current handle and they are really moving not only themselves forward, but show every other track in the country the type of model that has at least a chance to move racing back onto the radar screen for the betting public.

I have sent many such notes to NYRA, and their execs, without ever as much as an acknowledgement they got it, and I have not heard from Canterbury either, so it was probably a time waster. But like NYRA's use of their current windfall for seemingly unwarranted purse levels, particularly at Aqu in the winter, Cby seems poised to stand status quo with current industry formats despite all the danger ahead signs visible and squander their unbelievable opportunity as well.

BB