Thanks to Indiana General Assembly approval last year, Indiana racinos introduced table games as an option for players in January. Because of this action, new revenue from this wagering has allowed the Indiana Thoroughbred Breed Development Advisory Committee to craft a 2020 racing program rewarding more breeders with more races and more money.
The 2020 program, thanks to breed development and track contributions, will be valued at $17,457,992, an increase of $2.4 million to 2019’s program. This is an increase of almost 14 percent from the previous year.
“The 2020 program is a work in progress as we find ourselves in a position of estimating table games revenue this first year,” explains Jessica Barnes, Director of Racing and Breed Development for the IHRC. “The Thoroughbred Breed Development Committee intends to hold monthly meetings during the 2020 race meet to monitor this activity. As we receive more information regarding the adjusted gross receipts for table games, we may go back to the IHRC with additional improvements.”
Highlights of the 2020 proposal include:
- An addition of two Indiana Signature Stake races for Indiana-Sired horses to be contested at $150,000 each at Indiana Grand, bringing the total of restricted stakes races to 28, paying out $3,100,000 in stakes races alone.
- The addition of Breeders Awards paid to 2nd and 3rd place horses, except when entered for a claiming price of less than $10,000
- An 8% increase to purses for Indiana-bred overnight races
- Purses for Indiana-Sired overnight races will be contested at 12% above an Indiana-Bred race
- An increase in the total of restricted overnight races to be run, including the addition of mid-level races for sired horses. A total of 110 Indiana-sired and 194 Indiana-Bred (both bred and sired horses are eligible to race in Bred races) overnight races are scheduled to be contested, for a total of 304, an increase from 297 ran during the 2019 meet.
While a cap of $10,000 to an individual breeder award has been added for the 2020 season ($15,000 cap on the six $150,000 Indiana Signature Stakes Races), the overall amount that will be paid in breeder and stallion awards has actually increased. In 2019, the Indiana program saw a total of $3,388,136 paid in these awards for winning breeders only. The 2020 program, paying 1st, 2nd and 3rd, is scheduled to pay $5,094,660 in awards—an increase of more than $1.7 million.
“Whether you are wanting to invest as an owner, breeder or stallion owner, this lucrative program provides great incentives for all participants,” says Bruce Murphy, Chairman of the Indiana Thoroughbred Breed Development Advisory Committee. “We are excited for the growth it offers.”
More information can be found on the program’s website (http://in.gov/hrc/tb/).
(Photos available upon request)
ABOUT THE INDIANA HORSE RACING COMMISSION
The Indiana Horse Racing Commission ensures that pari-mutuel wagering on horse races in Indiana will be conducted with the highest of standards and the greatest level of integrity.
ABOUT THE INDIANA THOROUGHBRED BREED DEVELOPMENT PROGRAM
The Thoroughbred Breed Development program was established to promote the Indiana Thoroughbred industry. In 2007, legislation was passed which approved slot machines at Indiana’s pari-mutuel racetracks. Hoosier Park and Indiana Downs both opened their slot operations in June of 2008. The Indiana Thoroughbred Breed Development Fund receives 45 percent of the revenue generated from slot machines that is allocated for Thoroughbred Racing.
For more information, see the Indiana Horse Racing Commission’s website: http://www.in.gov/hrc/