With the New York Racing Affiliation poised to return to Saratoga Race Course in two weeks, the Saratoga Springs area continues to be basking within the glow of 4 extremely profitable days on the upstate New York oasis for racing.
Whereas last enterprise numbers haven’t been reported, Todd Shimkus, president of the Saratoga County Chamber of Commerce, mentioned the native enterprise neighborhood loved a banner week because the Belmont Stakes Offered by NYRA Bets was contested at Saratoga for the primary time and the four-day, June 6-9 racing pageant created a uncommon buzz, even by the Spa’s lofty requirements.
“There was an incredible pleasure and the exercise round city was unbelievable,” Shimkus mentioned. “They mentioned there was 50,000 individuals on the observe for the Belmont [on June 8] however there have been undoubtedly greater than 50,000 individuals in there. It’s the most individuals I’ve ever seen at Saratoga, and the joy stage in all places was the best since American Pharoah’s Travers [in 2015]. There have been companies that mentioned that they had document gross sales on Friday. The 4 days had been a terrific success for us. There are only a few issues that should be tweaked for subsequent yr, and while you solely have tweaks after a first-time occasion like this, that’s great.”
For NYRA, the 4 days had been a bonanza. Except for the capped crowd of fifty,000 on Belmont Stakes day, complete wagering for the 4 days was $197.4 million, a rise of $60 million from the final four-day pageant in 2022. Particularly, Thursday and Friday of Belmont Week, which had been dealing with a mixed determine of $29 million, soared to $56.7 million on the Spa.
The numbers downtown had been simply as shiny and cheery, propelled by inflated costs in lots of circumstances, hardly an uncommon prevalence at a serious occasion.
“I’ve heard from retailers and eating places that in the event that they stayed open late, they did rather well, however not all of them needed to try this,” Shimkus mentioned. “Friday was huge as a result of lots of people got here to city on Thursday they usually went out the following evening. We had some eating places say they broke all-time gross sales data on Friday. However you needed to keep open late. If you happen to closed at 9 or 10 p.m., which is often a well-liked closing time at the moment of yr, your numbers weren’t as huge. Then on Sunday, downtown was busy, like Travers Week. Individuals went downtown and shopped and ate earlier than leaving city.”
Shimkus mentioned he’s assured the financial influence of the racing pageant will high projections of $50 million.
“We mentioned main as much as this it could be an financial influence of upwards of $50 million throughout the area. It’s based mostly on precise math by taking the financial influence examine on the observe that was taken two years in the past which estimated the 40-day meet has an influence of $370 million,” he mentioned. “So, we thought 4 days of racing, that’s 10%, or $37 million proper there. Nevertheless, we knew attendance was going to be actually excessive and resort charges could be larger. We felt the individuals who had been coming for this meet could be spending extra money than regular.”
Particularly, charges for lodges had been sky-high. The favored Adelphi Lodge quoted a complete value of barely greater than $14,000 for a three-night keep. Because of this, there have been vacancies round city, however the economics appeared to work out for many who provided lodging.
“Resorts didn’t promote out, however 80% occupancy at a very excessive quantity is extra income than they ever made at the moment of yr. I don’t know if that technique would be the identical subsequent yr however that was it for the primary yr. I might assume the joy stage ought to assist form the thresholds for subsequent yr,” mentioned Shimkus, noting how the 2025 Belmont Stakes can even be held at Saratoga whereas Belmont Park stays closed till 2026 on the earliest for building of a brand new facility and racing surfaces.
One unmistakable signal of how the pageant was a magnet for guests was the June 5 free downtown live performance with Blues Traveler. The massive crowd was estimated at 15,000 to 25,000, considering individuals listening on aspect streets.
“Blues Traveler mentioned after they obtained on stage they had been shocked on the quantity of individuals, they usually performed for much longer than their contract known as for as a result of they had been having a lot enjoyable,” Shimkus mentioned. “The individuals who had been there had a blast.”
One other signal of the festive ambiance was Shimkus’ quoting of an 80% soar within the sale of alcoholic drinks over the identical week in June final yr.
Maybe essentially the most promising side of the late spring week on the Spa will probably be its influence on the 40-day summer time meet that begins July 11.
“We needed to do the live performance and different occasions to point out off the neighborhood and we seemed on the Pageant as a technique to promote to the summer time meet,” Shimkus mentioned. “The cash we spent throughout the Pageant would sometimes be cash we’d have spent on the summer time meet. Our purpose was to encourage individuals to come back to Saratoga this summer time.”
Shimkus mentioned there have been many new guests to the world and the racetrack, based mostly on an unscientific however logical sampling.
“We knew there was a whole lot of newcomers as a result of the preferred query we obtained concerned the place to park and the place had been shuttles,” he mentioned. “We quickly found out individuals didn’t perceive they may park on individuals’s lawns close to the observe, as a result of that they had by no means been right here earlier than.”
All in all, the enterprise neighborhood is definitely trying ahead to subsequent yr’s second Belmont Stakes on the Spa.
“There have been constructive tales about Saratoga and racing a day aside within the New York Occasions and New York Put up, and I don’t assume these two publications have ever written the identical story on something,” Shimkus mentioned. “That tells you the pageant was so successful throughout the board.”
