Tuesday, January 6, 2009
The Future of Racing?
That's Sportsman's Park in Chicago, where demolition started yesterday, but it could be a number of other tracks in the not too distant future. Racing needs to shrink, concentrate, and develop a focus. And that means that there won't be much of a justification for keeping a lot of tracks alive, as ever more betting shifts online. This year's significant decline in handle, concentrated in the last few months of the year, will accelerate the process, inter alia by forcing Frank Stronach's Magna to sell of its tracks. A year from now we may be looking at a very different industry.