RD83 - Annual Report of the Virginia Racing Commission


Executive Summary:
On September 1, 1997, Colonial Downs opened the first live pari-mutuel horse racing meet in Virginia-30 days of Thoroughbred racing. Harness racing joined the schedule in 1998 and since that time both breeds have run annual racing seasons at the New Kent facility.

Now 10 years old, Colonial Downs has been the catalyst of a sport that now generates nearly $200,000,000 in annual pari-mutuel wagering in Virginia. In 2006 total attendance was a record 678,426 as attendance for the first 10 years totaled 5,784,641 while total mutuel handle surpassed $1.35 billion.

As stated in § 59.1-364 of the Code of Virginia, horse racing with pari-mutuel wagering is permitted in the Commonwealth for the promotion, sustenance and growth of a native industry. As a result, the stakeholders in Virginia have worked extremely well together to build the horse breeding and racing industries. Quality racing has always been the goal of Virginia stakeholders as they strive to build upon the native horse industry in the Commonwealth.

Colonial Downs is owned by Jeffrey and Richard Jacobs' Jacobs Entertainment. From the beginning Colonial Downs has developed a reputation as the Thoroughbred turf racing capital of the nation. Typically more than 80% of the Thoroughbred races run at Colonial Downs are on the 180-foot wide Secretariat Turf Course, named after Virginia's famous Triple Crown winner.

Jacobs Entertainment sponsors the Grand Slam of Grass, a series of four races for three-year-olds. Two of the races are run at Colonial Downs-the $750,000 Colonial Cup and the $1,000,000 Virginia Derby. The Secretariat Stakes at Arlington Park and the Breeders Cup Turf complete the series. A horse winning all four races is eligible to receive a total of $5,000,000 in purses and bonuses.

In 2006, a Virginia record pari-mutuel handle of $3,602,203 was established on Colonial Cup Day. The Virginia Derby Day generated $2,799,465 in wagering -- two of the biggest days in Colonial Downs history.

The Standard bred (harness) industry has also tried to bring quality racing to the Commonwealth. Virginia was the host of the 1998 Breeders Crown races, harness racing's championship event. It was televised on ESPN.

In 2006 Colonial Downs hosted the $100,000 Invitational Trot which drew most of the top trotters in the nation. It was won by the popular Vivid Photo, owned and trained by Roger Hammer.

One of the highlights of the annual harness meet is a day filled with races to showcase Virginia-bred or owned horses.