NTRA Players Panel

1
NTRA Players Panel Independent Study Cary
Fotias February 28, 2004
2
Takeout Rates, Handle and Revenue Estimates
NYRA 2000-2002

• NYRA implemented a 14 takeout rate on WPS
  wagering at Saratoga 2001
• The 14 take represented a 1 decline on WPS
  wagering

3
Takeout Rates, Handle and Revenue Estimates
NYRA 2000-2002

• In 2000 and 2002 at NYRA tracks, WPS was roughly
  1/3 of total handle

4
Handle
5
Revenue
6
Conclusions

• A 1 drop in takeout contributed to a 9.8 WPS
  handle increase
• Estimated additional WPS revenue for 2002 is
  3,276,000
• Win-win situation - no matter how the revenue is
  split among the tracks, the horsemen, and the
  state

7
Conclusions

• Collateral benefits for regular players
• Lower WPS transaction costs
• Improved cash flow
• Enhanced pool size and payoffs