Keeneland Breeders’ Cup Has $81.8 Million Economic Impact
2022 Breeders’ Cup World Championship, Keeneland In response to a research revealed March 17 by the College of Louisville, it had a mixed financial affect of greater than $81.8 million in Lexington and surrounding areas.
Economics professor Dr. Research by Thomas E. Lambert confirmed that the 2022 World Championship produced the second-highest financial affect recorded in Breeders’ Cup historical past, after the report set in 2017. Del Mart. The financial affect of the 2022 occasion was 27.8% increased than the 2015 Breeders’ Cup in Keeneland, which had an estimated financial affect of $65 million.
Alongside these robust financial indicators, the 2022 Breeders’ Cup World Championship, held final November 4-5, generated a report $189.1 million in international bets; It was set in 2021. Information had been damaged for particular person day by day wager totals with Future Stars, which recorded $66.1 million on Friday, and Saturday’s program, which raised $122.9 million.
The financial advantages of the Breeder’s Cup measured on this research embody:
- Spend $30.5 million on the monitor, together with bets, concessions, parking, merchandise, and extra. Impression on the highway included 248 further staff with whole payrolls of greater than $7.7 million.
- $33.6 million spent on inns, retailers, meals and beverage, transportation and off-road leisure. The direct affect for these classes was an estimated 370 jobs with payroll estimated at greater than $11.3 million.
- $7.5 million in labor and supplies prices generated by tasks that boosted Lexington’s financial system by an estimated $17.5 million in whole, and $10 million in highway enchancment investments for Keeneland; and
- $900,000 secured in state and native tax income and $5.3 million secured in federal tax income
“When the Breeders’ Cup involves city, Lexington has the chance to turn out to be the worldwide focal point and present why we’re often known as the Horse Capital of the World. We’re house to the most effective circuit on the earth, Keeneland, frankly. and the most effective Thoroughbred Brits,” mentioned Linda Gorton, Mayor of Lexington. . “However the Breeders’ Cup is extra than simply bragging. The occasion has a big financial affect, serving to our inns, eating places and our complete group.”
Join blood horse Each day
“We’re pleased with the constructive financial affect the 2022 World Championship has had on our hometown Lexington group,” mentioned Drew Fleming, Breeders’ Cup president and CEO. “After going through a worldwide pandemic, we stayed true to our phrase and, simply two years from 2020, we returned to Keeneland understanding the required assist the World Championships will present to native companies. Keeneland and Lexington are intently linked to our historical past as an amazing sport and profit all concerned. It was nice working with our extremely engaged group to host an occasion that gives
Fleming notably counseled Keeneland president and CEO Shannon Arvin, Pageant president Kip Cornett, VisitLEX Tourism Board and Gorton for the success of final 12 months’s Breeders’ Cup.
“(We) invite friends from around the globe to the Horse Capital of the World and collaborate with native companies to boost financial progress alternatives for the area and group members,” Fleming mentioned.
Breeders’ Cup ticket purchasers traveled to Lexington from all 50 states and 18 completely different international locations, contributing to a big enhance in Blue Grass Airport visitors. The Breeders’ Cup additionally efficiently supported numerous philanthropic initiatives all through the week.
“The outcomes of this research conclusively display that Lexington has absolutely embraced the Breeders’ Cup,” mentioned Arvin. “The Breeders’ Cup and Keeneland share a mission to run races on the highest ranges of high quality, security and integrity and contribute to our group. It was a pleasure working with Drew Fleming and the workforce once more on the Breeders’ Cup and to them, our business companions and followers from around the globe and the racing workforce. We thank Central Kentucky enterprise and civic leaders who’ve labored with us to offer their connections with a heat welcome and distinctive hospitality.”
“The Breeders’ Cup 2022 was an impressive weekend by way of racing, hospitality and financial affect,” mentioned Mary Quinn Ramer, president of VisitLEX. “We all know that there isn’t any higher place worldwide for championship racing in Lexington, the Horse Capital of the World, and we applaud the Breeders’ Cup’s choice to convey the 2022 occasion to our metropolis.”
The Central Kentucky enterprise surveyed mentioned they noticed the advantages of the Breeders’ Cup lengthy after the occasion ended, and 41% mentioned they strongly agree or agree that clients who withdraw in the course of the week of the Breeders’ Cup turn out to be repeat clients in a while.
2023 Breeders’ Cup World Championship on 3-4 November Santa Anita Park in Arcadia, California
This press launch has been edited by the BloodHorse Staff by way of content material and magnificence.
#Keeneland #Breeders #Cup #Million #Financial #Impression