The day has come where I've started blogging about Mountaineer. God help me.
All jokes aside, we've got an interesting little mathematical scenario here. Mountaineer currently runs five nights a week, with nine races a card, totaling 45 races per race. As of Monday, they will be dropping one race per card, leaving the total number of races per week at 40.
Let's take a look at how much handle each night drove last week, just for numbers to go on.
Monday Aug. 18th: $1,118,812, $124,312/race.
Sunday Aug. 17th: $1,018,276, $113,141/race.
Saturday Aug. 16th: $795,493, $88,388/race.
Wednesday Aug. 13th: $720,546, $80,060/race.
Tuesday Aug 12th: $1,252,920, $139,213/race.
Fantastic. We see here that the Mountain's best nights are Sunday, Monday and Tuesday, while Saturday's and Wednesday do not perform as well. This is mostly due to the increased competition they face on those nights, not a shock. Going on these averages per race handles, with eight race cards, here is what cards should look like.
That would leave total weekly handle at $4,360,912. But let's try something. We need to run 40 races per week. Instead of running five cards of eight races, let's get rid of Wednesday, the worst night, and do four cards of 10 races.
With that system, total weekly handle is $4,650,540, an increase of $289,628. At a 20% rake, that's an extra $57,925 in takeout every week.
Now I'm under the understanding that management at Mountaineer did want to do this, but the racing commission would not allow it. That happens a lot everywhere. But the numbers don't lie, and my numbers say that four 10 race cards will be more profitable than five eight race cards.
Have a good night everybody.