Freehold Announces Purse Reductions; Anticipates Schedule Change
Posted 1151 days
Freehold, NJ—-Freehold Raceway announced Thursday that the condition sheet being released today will reflect a 25 percent reduction in purses. After several significant purse increases in 2010, Freehold has been forced to reverse course and implement reductions. This will be the second reduction this year, with a 15 percent reduction announced in late January.
According to Freehold GM Howard Bruno, several factors have led to the result. “Overall sluggish business, in part brought on by weather cancellations on live and simulcast racing, has contributed to a significant purse overpayment. Also, an anticipated Casino Purse Enhancement payment of over $500,000 from the NJSEA has not been received.”
“We will continue to reevaluate purse levels if we receive the remaining PEA payments and business stabilizes,” Bruno added.
Purse changes will be effective Wednesday, March 2nd.
Once approved legislation is signed into law, Freehold intends to apply to the New Jersey Racing Commission for a reduction in race dates from its current schedule of 168 days.
Freehold’s current schedule is Wednesday through Saturday, with post time at 12:30pm.