Tuesday, May 12, 2009

What's the real reason?

Expanded gambling advocates in Frankfort and beyond have pointed to the recession and a lack of racetrack casinos as the reason for Churchill Downs cutting back from five days of racing a week to four.

But OnlineCasinoAdvisory.com tells a somewhat different story. The site suggests Churchill is devoting more of its business activity to online gambling as a substitute for live racing and quotes Churchill CEO Bob Evans talking about growth in online wagering.

The article even jokes that perhaps Gov. Steve Beshear might seize racetracks in surrounding states, given his ongoing efforts to take private web sites from outside of his jurisdiction. Bottom line is perhaps things aren't necessarily so dire at the tracks as we have been told. Could they just be cutting overhead as the online business grows?

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