Dancethruthedawn under jockey Gary Boulanger captures the $500,000 Labatt Woodbine Oaks.Sam- Son Farms repeats after capturing the Oaks last year. michael burns photo ltdMichael Burns
As Hastings Racecourse in Vancouver struggles to hang on with smaller crowds and increased competition for the gambling dollar, Woodbine Racetrack in Toronto is doing "reasonably well in a difficult business," says Jane Holmes, Woodbine Entertainment Group's vice-president of corporate affairs.
For the first half of its 2011 live thoroughbred racing season, the total amount wagered was more than $206-million – an increase of almost $22-million from this time last year.
In 2010, betting amounted to just over $393.5-million, jumping from around $361.4-million in 2009. And Woodbine expects the good times to continue and that the total amount wagered will exceed $400-million in 2011.
So what's been the racetrack's recipe for success?
According to Bill Tallon, the Canadian editor of Daily Racing Form, a New York-based newspaper dedicated to covering thoroughbred horse racing, there are several ingredients. Among them are the following:
The Winners' Circle
Woodbine offers big prizes, which attract good quality horses and consumers. It also offers a large field, Mr. Tallon said, which consumers enjoy.
Taking it off-track
Woodbine Entertainment Group aims to attract different groups of people through turf Lounge, a restaurant and bar for business people it owns in downtown Toronto that shows simulcasts of racing events from across North America, and Wegz, a sports bar in Vaughan for blue-collar workers and a younger crowd.
Horse racing is shown at Wegz along with the other sports, Ms. Holmes noted, as a way of creating new fans.
People can also follow Woodbine action on the Web and in television shows on basic cable and pay per view, Ms. Holmes added.
Crossing the border
Woodbine has increased its profile in the United States by distributing its simulcast signal to racetracks, Las Vegas casinos, and through a broadcasting agreement the television network TVG.
Location, location, location
Woodbine benefits from being in the biggest city in the country and the fact that the nearest competitors for gambling dollars are in Niagara Falls and just outside of Orillia, Ont., Mr. Tallon said.
A Winning Formula
With over 2,000 slot machines – from one cent to $5 per play – Woodbine derives a significant amount of money from casino subsidies.