Oaklawn: Record $27 Million in Purses in 2016

Blood-Horse

Oaklawn Park is projecting average daily purse distribution of $475,000, a 12% increase over 2015, for the meet that begins Jan. 15, 2016.

The Hot Springs, Ark., racetrack, which released the meet’s first condition book Aug. 27, said purses are projected to total a record $27 million, which represents a 76% increase from 2008; purses have been at record levels since that year.

Maiden special weight races will be worth $68,000, an $8,000 increase from the first condition book earlier this year, and open allowance races will be worth as much as $75,000, up $9,000 from where they started in 2015. The minimum purse will be $21,000 in 2016, up $3,000 from 2015.

“Oaklawn has had to reinvent itself several times over the course of our 112 years, but what has never changed is our commitment to offering world-class Thoroughbred racing,” director of racing David Longinotti said. “We are extremely proud of our business model that has helped generate higher purses year after year. These purses and the tremendous support we get from Arkansas racing fans are the biggest reasons Oaklawn is able to attract horses like Triple Crown winner American Pharoah.”

Oaklawn’s growing purses are thanks in part to booming business in its gaming operation that was expanded for a second time at the beginning of this year. Oaklawn was the first to introduce Instant Racing, the video lottery terminal-like gaming machines in which the outcomes are based on previously run races. An in-state advanced deposit wagering platform also has been very successful, generating more than $1 million in purses in 2015 and closer to $1.5 million in 2016.

Oaklawn, which had previously announced a record $7.55 million stakes schedule in 2016, opens Jan. 15 and the season runs through Saturday, April 16.

Stall applications, which are due Oct. 29, and the first condition book are also available at www.Oaklawn.com.