The Indiana Horse Racing Commission approved cuts to the state's Thoroughbred breeding program during a virtual meeting last week. With casino closures and the potential for reduced revenues once reopened, funding available for the state's breeding program decreased significantly. The new projected revenue is estimated to be around $8.2 million, according to a release from the racing commission.
Purses for Indiana-bred stakes have been reduced across the board, with the six Indiana Signature Stakes, typically worth $150,000, reduced to $100,000, and the other 22 restricted Indiana-bred and Indiana-sired stakes to be contested at $75,000. In total, the restricted stakes will pay more than $2 million in 2020.
In addition, the Indiana Breeders Awards percentage will remain at 2019 levels.
“Going into this year's racing program, we were excited to offer a program with many enhancements; however, due to the unique situation we are now in, many of those elements had to be put on hold until the 2021 program,” said Jessica Barnes, Director of Racing and Breed Development for the Indiana Horse Racing Commission. “I'm thankful the tracks, horsemen's groups and commission were able to all come together to offer the best program we could during these unprecedented times.”
Barnes continued, “If we get a month or two into the reopening, and projections are better than what we have forecasted, we have the flexibility to go back to the commission with a revised proposal. This is a fluid situation, and our program has the ability to adjust in a manner that will best benefit our breeders, owners and trainers.”
Indiana Grand Racing & Casino was originally scheduled to open Apr. 14, but the track and the backside were closed due to the statewide COVID-19 pandemic quarantine Mar. 16. With approval from the Governor's Office, the Indiana Horse Racing Commission recently released a phased approach to begin horse racing in Indiana, with the backside of the tracks now open. The plan calls for racing to commence at the two pari-mutuel tracks the week of June 16 without spectators. If there is no change to Governor Holcomb's “Back on Track Indiana” plan, spectators will be able to return to the tracks July 4.
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