November 20, 2008
Syracuse, NY
Pivotal Year for Vernon Downs
Vernon Downs is set to launch its harness racing season this weekend, after losing $10 million last year. The owners are hoping a new casino deal with the state and a good racing season will get them into the black. It's a racing venue that's seen its ups and downs in recent years. It was thought a video gaming room on the grounds was the answer to their money problems, but with the state taking the lion's share of profits, the track was losing $700,000 a month on the casino at first. That's changing now that a new agreement was reached allowing the casino to keep more revenue. Still, it's up to the harness racing side to turn things around and they have the month of April to prove they can draw the horses to do that.
"We're very excited. Now that the legislation takes affect we're excited, we're seeing our revenues grow," American Racing and Wagering President Pete Savage said. "We're even seeing a lot of new people coming in, there's a great deal of excitement in both buildings and obviously we're getting ready to open a phenomenal race season here at Vernon Downs and May 3rd at Tioga Downs," Savage said. The season kicks off tomorrow night with nine races. |
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