Stop the whinnying.
Horse-racing officials are up in hooves over Gov. Tom Corbett's plan to reallocate $72 million from a state fund that directly assists them. They're whining that absorbing such a huge hit would be unfair, that it single-handedly would render the industry as healthy as a filly with a fractured femur.
The equestrians are flat-out wrong.
Don't believe me⢠Then saddle up for the rest of the column, conveniently divided into easy-to-digest segments named for one of the sport's signature events.
⢠Kentucky Derby
Let's let the horse racing industry out of the gate first. Todd Mostoller of the Pennsylvania Horsemen's Benevolent Fund complained bitterly about the proposed funding reduction.
"Raiding the fund demonstrates a clear lack of support for a major economic driver within the agricultural economy of the state," he said. "This budget is not supporting the horse racing industry — it's gutting it."
Hate to muddy the track, Todd, but the numbers strongly suggest otherwise.
Even with a $72 million cut, the state allocation to the Race Horse Development Fund would be $166 million. If you're startled by that, you'll be floored by this: The state has provided $1 billion to the fund since lawmakers created it in 2004.
When you find out where the fund gets its money, you might snort and stomp in your stall.
The cash comes from 10 percent of slot machine revenue at Pennsylvania casinos. Those are the casinos whose revenue elected officials pledged would dramatically lower your property taxes; it did lower taxes, but not by much — partly because the money subsidizes horse racing.
⢠Preakness
Where do the subsidies go⢠Prepare for snort and stomp, the sequel.
Eighty percent bolster the purses paid to owners of horses who win, place or show in a race at a state track. Sixteen percent goes to horse breeders, and 4 percent helps pay benefits for horsemen who aren't public employees.
The Corbett administration wants to redirect some of that money to agricultural research, veterinarian activities and county fairs. Seems better than having the fund pay for the victory cigar for the owner of Betty White's Dentures after the horse's third-place finish at The Meadows.
⢠Belmont
Some sobering statistics emerged in an industry study last year. Since 2000, overall betting handle fell 37 percent, track attendance dropped by 30 percent and starts per horse were down by 14 percent. If the trends continue, a consultant predicted the sport could lose a third of its fan base by 2020.
So is throwing state money at the industry essentially throwing money down the drain⢠I'm not going to sugarcube, er, sugarcoat it: Yes.
Rather than having a nominal funding cut get their eyes all misty — like that horse from Chincoteague of the 1947 award-winning book — these ungrateful equestrians should be thankful they're getting a dime.
In the industry's eyes, I suppose that makes me a naysayer.
Or should that be neighsayer?
