Toronto’s Woodbine Racetrack has managed to do well in a difficult business this year. Other tracks have not fared as well, such as Hasting’s Racecourse in Vancouver. The reason being as to why Hasting’s Racecourse is not doing as well is because of their smaller crowds, and strong competition for the gambling dollar.
Woodbine Racetrack managed to pull in more than $393.5 million in betting in 2010, which was an increase from 2009’s profit of $361.4 million. The first half of 2011 saw the total amount wagered amount to more than $206 million, which is an almost $22 million increase compared to 2010’s numbers. Woodbine Racetrack has projected that more than $400 million will be wagered for the whole of the 2011 fiscal year.
Daily Racing Forum, a newspaper based in New York that focuses on thoroughbred horse racing has a Canadian editor, Bill Tallon. Tallon has published reasons why Woodbine Racetrack has done so well, and continues to be so successful. Tallon suggested that the Winner’s Circle draws in quality horses, and as a result of this, customers are satisfied. He also further suggested that the Woodbine Entertainment Group also attracts a wide variety of customers as well, with it’s restaurants and bars. It also helps that Woodbine Racetrack is in Canada’s biggest city, and that other gambling establishments are in different cities. Last but not least, with over 2,000 slot machines, that is also a big source of revenue for Woodbine.
It looks like Woodbine Racetrack is on the right track!