The State of the VA Thoroughbred Industry

STORM CLOUDS GATHERING

Looking at in hindsight, there our multiple reasons for the decline and changes negatively impacting Virginia’s Thoroughbred racing and breeding industry including:

·       The nature of the beast – the Thoroughbred breeder and racehorse owner.

·        Death and poor estate planning.

·        Virginia’s archaic approach to pari-mutuel gambling – the primary funding mechanism of the racing and breeding industries.

·        Virginia’s archaic approach to any gambling that the state government isn’t the primary beneficiary.

·        Competition from surrounding states and those states which are not so relevant geographically such as Kentucky and New York.

·        The national economy, the global economy and the overall Thoroughbred economy.

More later. 

2 Responses to “The State of the VA Thoroughbred Industry”

  1. Glenn – your comments on the Va Breeding Industry are spot on. Why do you think the horsemen’s groups in Md, NY, Pa have been so much more effective than we have in Va. If the General Assembly flips as many think it will the path will become even more difficult. For your next topic consider an analysis of the Jockey Club’s proposal to cap the books of stallions at 140. Thanks for your interest.

  2. The short answer may be that the horsemen’s groups in other states have a more willing (and I use the term loosely) partner in racetrack ownership which has been the undoing of VA until very recently. The General Assembly has long been the major obstacle and that is unlikely change whether it is flipped or not. I have been following the 140 cap story and haven’t formed a fully detailed opinion yet. But generally, I believe in the laws of supply and demand. That said, I know the demand for racehorses is not what it used to be and the question if how will limiting the supply (especially at the top) positively impact the overall market. Haven’t quite sorted all the way through it yet! Thanks for reading.

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