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Home  »  Business News  »  American Pharoah’s Economic Impact Is Felt Prior To His Defeat In Historic Travers Stakes
Business News

American Pharoah’s Economic Impact Is Felt Prior To His Defeat In Historic Travers Stakes

Posted onSeptember 17, 2015
american pharoah hc.jpg
The appearance of American Pharoah at the Travers had a big area economic impact.

BY R.J. DELUKE

The New York Racing Association announced
record wagering and handle figures for the recently
completed thoroughbred horse racing season at
Saratoga Race Course, a tourist attraction that
also affects the Glens Falls/Lake George region.

Peter Aust, president and CEO of the
Adirondack Regional Chamber of Commerce, had
noted the August numbers are historically bigger
than July, assisted by the proximity of Saratoga
Race Course, and that while people want to see
the lake and mountains and go boating, they also
want to go to the race track.

It appears that having Triple Crown winner
American Pharoah come to the Travers Stakes
on Aug. 29 boosted attendance and the associated
impact on area businesses.
The 147th season at Saratoga Race Course saw
record handle of $648.3 million, a 13.5 percent
increase in corresponding all-source wagering
activity over last year, according to NYRA. The
record wagering shattered the previous high
from 2012 of $590.2 million, which included
international settlements that have yet to be
recorded for the 2015 Saratoga meet.

On-track handle also set a record of $157.7
million, surpassing the previous high of $150.6
million in 2012.
“The 2015 season at Saratoga Race Course was
truly fabulous and is one which we won’t soon
forget,” said NYRA CEO and President Chris Kay.

“All of us at the New York Racing Association
are deeply appreciative of the support we have
received from the owners, trainers, jockeys,
stakeholders, fans and the community as a whole
during this historic season at Saratoga. Their
dedication to the industry and love for the sport
continue to cement Saratoga as the premier race
meet in North America.”

Michael Consuelo, executive director of the
Lake George Regional Chamber of Commerce,
said the week and weekend of the Travers “was an
excellent one in terms of occupancy. How much
of it was attributed to the appearance of American
Pharoah is hard to say, but I would think that it
had somewhat of an impact only from the fact
that occupancy was high because of compression
from our friends in Saratoga.”

“With high demand down there coupled with
even higher rates, it does drive visitors up to our
area regardless of having a Triple Crown winner as
a highlight or not,” he said. “We do well during the
racing season because visitors tend to stay up here,
drive to Saratoga for a day at the track and back
up here to Lake George for all of the wonderful
features of the Lake and the surrounding area..”

In Saratoga County, Pete Bardunias, president
and CEO of the Chamber of Southern Saratoga
County, said the appearance of American Pharoah,
“energized the already-exciting Travers weekend
to a fever pitch, filled our hotels and got anyone
with even the slightest interest in horse racing to
participate in the sport.”

Bill Donovan, who owns both Maestro’s at the
Van Dam and Harvey’s Restaurant and Bar, both
in downtown in Saratoga Springs, said Travers
Week numbers for both restaurants were 22
percent higher this year than last year.

Photo by R.J. DeLuke

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