2008 vs. 2007 Performance 

  • Dow-Jones Industrial Index                                                       -33.8%
  • Nasdaq                                                                                                 -40.5%
  • Standard & Poor’s  500                                                                 -38.5%
  • U. S. Automobile Sales                                                                  -18.0%
  • Nevada Gaming Revenues                                                           –  8.3%
  • Macao Gaming Revenues                                                           +31.0%
  • U. S. Pari-Mutuel Handle                                                            –  7.2%
  • U. S. Thoroughbred Auction Revenues, Yearlings          -16.7%
  • U. S. Thoroughbred Auction Revenues, Weanlings         -34.2%


There is insufficient evidence to determine, at this time, what proportion of the downward trajectory of the U. S. horse racing industry in 2008 is due to a secular trend and what proportion is due to recession. 



  1. Exactly! You can’t point to one number in one instance and come up w/ one reason. To really examine horse racing you need a CPA degree and no bias. I would imagine our racing numbers aren’t quite as bad as retail.

    Macao and all those other countries same thing. The culture is so different it’s pointless comparing.