Cooling down
Racing came to an end this summer just minutes after favorite Bernardini charged over the finish line at the Travers stakes more than a week ago. The mass-exodus out of the city that followed on the dreary Sunday morning after was a testament for the business downtown would bear witness to through Labor Day.
For most honest people in the know, the meet wasn’t the same this year; there was an intangible element that seemed to be missing. And for businesses downtown, that element is sure to manifest once the snow starts flying.
Here’s the message no one want to here: business downtown was bad. How bad is anyone’s guess, but it was bad. There were considerably less people out at partying at night and chowing down at the droves of eateries that play such an integral roll of the city’s economy.
Sure, ask the three-card monte dealers of the New York Racing Association and they’ll tell you things went swell; average attendance was up slightly despite canceling a whole day of races in response to the heat wave of early August. They’ll also say the overall handle was up.
But the truth of the matter is that the loveable spinners were the ones that inflated this year’s attendance numbers, logging on average more than 40,000 revolutions of the main entrance turnstiles to fog up any definitive fan estimates. And the handles? They were up thanks to the simulcasts piping into OTBs around the region and the Saratoga Gaming and Raceway down the street.
Did someone say racino? Yes, there was one place in
Some businesses are less than candid about their losses, as the trademark Saratogian “business was awesome” article penned at the conclusion of every meet. But ask these owners to tell the scout’s honor truth and they’ll tell you the spending has gotten rather dismal downtown.
This is not to say that the outlook is all doom-and-gloom; what was a six-week only bonanza just over a decade ago has grown to incorporate the months of July and September. And business on a whole seems a bit more robust in the off-season, thanks to a steady procession of convention business.
However, the booming racino is more than likely to sound death knell for the business owner moving tentatively from month-to-month on lackluster receipt,, as higher rents, more taxes and a decrease in foot traffic has put an end to the free-for-all cash grab that once proliferated on Broadway.
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