Jeff Gural on losing money on racing at the Meadowlands

[M P]

Gural is a very wealthy man. I'm curious if he is giving himself a salary at the Meadowlands.Curio us about what he is paying Settlemore. I am fine with their salaries if they are in range with industry norms. If they are much higher, that looks bad.

He pays millions out of pocket. If he is required to take a check it's probably a dollar. Incredible how people love counting everyone else's money when it's those same people they need to survive.

[Miguel_Sanchez]

He pays millions out of pocket. If he is required to take a check it's probably a dollar. Incredible how people love counting everyone else's money when it's those same people they need to survive.

Settlemoire is pulling down 500k to 750K easy

[Bitter Truth]

As if  Better take off a zero and it would be ALOT closer to the amount.

[rainman2]

Settlemoire is pulling down 500k to 750K easy

Does Settlemoir have other responsibilities at Vernon and Tioga?  If so, then you have to readjust the pay scale accordingly!

[onabrake]

Settlemoire is pulling down 500k to 750K easy

Why not just make it a cool million. Too funny. You do realize that JG pays many of his employees bottom barrel wages and Settlemoire might be making 200k and that is a big might.

[Papillon]

He pays millions out of pocket. If he is required to take a check it's probably a dollar. Incredible how people love counting everyone else's money when it's those same people they need to survive.

where and when does he pay millions out of pocket?

[M P]

where and when does he pay millions out of pocket?

The fact you actually asked that proves my point. Horsemen have NO clue where the welfare comes from.

[Bitter Truth]

Care to talk about the $5m state subsidy for use on overnight races , not stake races, MP?
I did the math on here before. He actually has to produce roughly $4700 per race on those overnights,
and he's got his big $3m handle to offset that. Still he continues to cry poverty and whine.

[M P]

Care to talk about the $5m state subsidy for use on overnight races , not stake races, MP?
I did the math on here before. He actually has to produce roughly $4700 per race on those overnights,
and he's got his big $3m handle to offset that. Still he continues to cry poverty and whine.

A handle shouldn't have to "offset" a dime in purses. It should BE the purses. Ya know, the way it used to be and is supposed to be. An industry supported off it's own revenue, not welfare. Holy mother have mercy....

[stanetelman]

"All of us at The Meadowlands are grateful to be able to say business is up over last year, even though Jeff is continuing to lose money.” said Big M Chief Operating Officer and General Manager Jason Settlemoir. “We owe so much to our loyal fan base who always appreciate betting our product, our race office for carding competitive races, our horsemen for supporting the entry box and our employees for presenting an atmosphere where the few patrons that do show up can come for a great night of entertainment, and that goes for people who like betting on the races, as well as those who don’t.”

Meadowlands Media Relations

[M P]

[The Exporter]

In compliance with the state purse subsidy agreement, the Meadowlands receives $6 million a year for overnight purses, only. Racing 92 days this year gives you about
$65,000 a night on a common 14 race card.
The 3.5 million in total wagering equates to about $92,000 a night . So, the overnight purses distributed on a 14 race card is about $11.500.00 a race.
 Now these figures don't include rebates of off track wagers. I have no clue as to what they may be.
Accepting these figures as true or close to true, I don't doubt there are many Jeffery dollars in the purses. Be it overnights or stake races.

[M P]

In compliance with the state purse subsidy agreement, the Meadowlands receives $6 million a year for overnight purses, only. Racing 92 days this year gives you about
$65,000 a night on a common 14 race card.
The 3.5 million in total wagering equates to about $92,000 a night . So, the overnight purses distributed on a 14 race card is about $11.500.00 a race.
 Now these figures don't include rebates of off track wagers. I have no clue as to what they may be.
Accepting these figures as true or close to true, I don't doubt there are many Jeffery dollars in the purses. Be it overnights or stake races.

And up until these subsidies plus the sports book whose pocket was the money coming out of. You people have very short memories. As much as I question his methods, he and only he got the place to this point. Otherwise it would have been Met Life parking lots W X Y and Z

[Bitter Truth]

Nice post Exporter. I had posted a similar thing less than a year ago for the 'HANDLE'
lovers. The racing probably does cost his some. Small price to pay to control that sports
betting on site. Bottom line is do it and shut the fuck up or get out.

[M P]