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Red Mile Historical Racing tops $28M in March

April 11, 2017
HOME PRINT

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Red Mile president Joe Costa told harnessracing.com midway through March that he expected the month to be the best ever for the 902 Historical Racing machines at the track, and he was correct. On the heels of an all-time best $23.1 million handle in February, The Red Mile handled $28.2 million in March, with the jump of more than $5 million a 22.3 percent increase from the February numbers.

According to a report issued by the Kentucky Horse Racing Commission, the $28.2 million is also nearly $7 million more than a year ago in March 2016, an increase of 32.1 percent. More impressively, the year-to-date numbers for the first three months show a whopping 107.7 percent increase from 2016, rising from $95.8 million to $199 million.

The average daily handle on the 902 Historical Racing machines in March was $912,269, an average of $1,011 per machine.

The gross commission in March at The Red Mile, which operates in partnership with Keeneland Thoroughbred racetrack, was $2,060,869. The total gross commission for the first three months of 2017 was $14,688,686, a 100.6 percent increase over $7,324,030 last year.

With $106,051 going into the Standardbred Development Fund in March (one percent of the total handle), that Fund has thus far received $995,301 in 2017. Other deductions at The Red Mile in March included $106,051 to the Thoroughbred Development Fund (.75 percent of half of the total handle), $176,752 to the Kentucky General Fund and $424,205 in total Kentucky Excise Tax (1.5 percent of total handle). As a result, the net commission in March at The Red Mile was $1,636,664, which is 5.79 percent of the total handle.

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