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If the goal is to increase the horse population , the money should be put into breeders awards. It is the greatest incentive to breed horses that there is! Nothing would be more effective.
Freehold has 76 race cards in 2019.Divide that into $1,600,00 and you get over $21,000 more per card, or $1,800 per race.That’s a 40 to 50% increase in purse per race.Nick will be happy.Meadowlands has about the same # of races as Freehold, so that will add about $78,000 more per card, or about $6,500 per race.
He is losing money just ask him
If M1 purses get a bump of 4-5k per race due to subsidy, Yonkers is in a whole lot of trouble. Better horses will start showing up at M1 and the 3 mill they wagered Saturday will be closer to 4 mill as the warmer weather creeps in. MGM is not going to sit idly by and hand out huge purses when handle/interest will be equal to Monticello, as MGM is run more like a corporation, unlike Rooney who has/had roots in harness racing. When current YR contract expires in 2 years, shit is going to hit the fan.
There is zero net positive gain from the subsidies. You cannot find any non-industry funded study that says so. Same thing goes for municipalities that fund stadiums--they will never get a positive return on that initial cost. Subsidies almost never work as a positive economic stimuli.