Iowa racetrack evaluates financial plan
Operators of Iowa racetrack are evaluating an update to refinance the services.
US.- As total revenue of Iowa racetrack keeps growing with further bets from local residents, operators are evaluating different proposals to maintain and expand the offered services. Currently, racetrack’s operations are funded under a financial plan with Q Casino and Hotel and the Horseshoe Casino in Council Bluffs.
The racetrack receives funding by both casino companies, which have already destined to the gaming salon a US$5.1 million subsidy this year. The financial plan was based on an agreement signed back in 2014, when the casinos decided to give the greyhound industry US$72 million over seven years.
Despite the financial evaluations, the total amount wagered on races at Iowa Greyhound Park in Dubuque was US$4.6 million in 2017, about three percent higher than 2016. Brian Carpenter, the park’s director of racing and general manager said park officials “may shorten the racing schedule or create other deals with off-track betting facilities to help the park survive after the subsidies end in 2022.”
“I have to admit, this year (the weather) was probably the worst out of the 32 years that I have been working here,” said the director. ”We still came out ahead of last year, so we are very happy with that.”
