Albany Racetracks

by Daniel Dunn
( December 4 2005 10:23 )
Golden Gate Fields does not expand gambling due to the success of its racing.

Albany racetrack Golden Gate Fields has achieved a great success, while others struggle to survive. Although this racetrack does not have a slots parlor its benefits keep growing. On the contrary, Bay Meadows Race Course is not having the revenues expected and they state that without a slots parlor and some card rooms they are not going to survive. Therefore, they are planning to reconstruct their racetrack and build a shopping village, a park, and an office.

Golden Gate Fields doubles the size of Bay Meadows Race Course and since their revenues are good enough so far, they are not planning to expand gambling. In 2004, Golden Gate Fields had an income of over 430 million dollars, while Bay Meadows had only around 390 million dollars. The publicity manager of both racetracks says that the figures are fair, because bets are bigger at Golden Gate Fields. He further stated that although wagers are not the only thing to take into account, they are pretty much the base for any racetrack to survive. If the betting base of a racetrack is bigger, so it is the prize offered for a winning horse. Thereby, the popularity of the racetrack increases and so do the revenues.

Golden Gate Fields is operated by Magna Entertainment, which also used to operate Bay Meadows, now in hands of Bay Meadows Racing Association since Magna Entertainment stopped operating it in January. Ferrall said that mean time the majority of employees still work in both racetracks, because they have different racing days. Golden Gate Fields has around 430 full-time employees and another 537 workers who are not on payroll, such as trainers. Bay Meadows has around 400 employees and another 367 who are not on Bay Meadows payroll.


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