2005 Annual Report
Virginia
Racing
Commission
Credits
Photographs in this report have been
provided courtesy of Colonial Downs
and Track Photographer Jeff Coady
Commonwealth of Virginia
Virginia Racing Commission
10700 Horsemen’s Road
New Kent, Virginia 23124
(804) 966-7400; Fax (804) 966-7418
February 10, 2006
TO: THE HONORABLE TIMOTHY M. KAINE, GOVERNOR OF VIRGINIA,
AND THE MEMBERS OF THE GENERAL ASSEMBLY
Pursuant to the provisions of the Code of Virginia Title 59, Chapter 29, Section 59.1-369 relating to
horse racing with pari-mutuel wagering, it is my privilege and pleasure to submit herewith the 2005
Annual Report of the Virginia Racing Commission.
The pari-mutuel horse racing industry in Virginia represents an important segment of the
Commonwealth’s economy not only from the operations of Colonial Downs and its satellite wagering
facilities, but also through the agribusiness activity represented by the breeding, training and related support
activities for race horses throughout the Commonwealth.
In 2005, with the addition of new satellite wagering facilities in Martinsville and Chesapeake,
Colonial Downs had eight facilities open in south central and western Virginia. A ninth facility was
opened in Scott County near the Bristol, TN boarder on January 18, 2006. Additional purse money being
generated at the new facilities will provide more live racing days in future years at the New Kent racetrack
from both thoroughbred and standardbred (harness) owners and breeders.
Colonial Downs and Virginia continue to receive national attention with the introduction of the
Jacobs Entertainment Grand Slam of Grass. In 2006, two legs of the four-race series will be run at
Colonial Downs-the $1,000,000 Colonial Cup and the $1,000,000 Virginia Derby. The goal is to
grow the races to a level that ranks the two events among the top five sports events held in Virginia
each year
The Racing Commission remains committed to insuring the integrity of racing for its participants and
patrons and appreciates the support it has received from the Administration and the General Assembly.
Respectfully Submitted,
Stanley K. Bowler
Executive Secretary
__________________________________________________
Virginia Racing Commission
Chairman
Anne D. W. Poulson
Orange
Dr. GeorgeW. Rimler
Richmond
David C. Reynolds
Richmond
Mark T. Brown
Palmyra
Peter C. Burnett
Leesburg
Staff
Stanley K. Bowker—Executive Secretary
David S. Lermond, Jr.—Director of Pari-mutuels
Marvin A. Sniegon—Director of Financial Management & Planning
Joseph M. Roney—Director of Operations & Enforcement
Kimberly M. Carter—Office Administrator
Dennis E. West—Operations Manager
Peggy E. Mason—Assistant Operations & Enforcement Manager
_____________________________________
Virginia Racing Commission
2005 Annual Report
Table of Contents
Executive Secretary’s Letter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Commissioners and Staff . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2
Activities of the Commission . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Pari-mutuel Handle Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5
About Colonial Downs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Richmond Satellite Facility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
Chesapeake Satellite Facility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Hampton Satellite Facility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Brunswick Satellite Facility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
South Richmond Satellite Facility . . . . . . . . . . . . . . . . . . . . . . . . . 12
Vinton Satellite Facility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Martinsville Satellite Facility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14
New Chesapeake Satellite Facility . . . . . . . . . . . . . . . . . . . . . . . . . .15
2005 Thoroughbred Meet Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
2005 Harness Meet Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Breeders Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Tax Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19
Audit Report for Fiscal Year Ended June 30, 2005 . . . . . . . . . . . . . . . . . . .21
__________________________________________________
Activities Of The Commission
Title 59, Chapter 29, known as The Racing Act,” became effective on January 1, 1989.
It vested the Virginia Racing Commission with control of all horse racing with pari-mutuel
wagering that is conducted in the Commonwealth. The Act was contingent on approval by
Virginia voters at the 1988 General Election.
Horse racing with pari-mutuel wagering is permitted in the Commonwealth for “the
promotion, sustenance and growth of a native industry, in a manner consistent with the health,
safety and welfare of the people.”
The Racing Commission is a regulatory board vested with plenary power to prescribe
regulations and conditions under which racing and wagering shall be conducted, so as to
maintain horse racing in the Commonwealth of the highest quality and free of any corrupt,
incompetent, dishonest or unprincipled practices and to maintain in such racing complete
honesty and integrity.
The 2004 General Assembly amended The Racing Act to permit up to 10 satellite
wagering facilities in the Commonwealth, an increase of four. In November 2004, Colonial
Downs and the horse racing industry joined forces on five referenda that are required before a
facility can be built in a community. Three of the referenda passed—in Westmoreland, Henry
and Scott counties. Referenda in Manassas Park and Greene County did not pass.
During 2005, two new satellite wagering facilities were opened in Virginia. In Henry
County, the state’s seventh facility was opened in Martinsville on August 15, 2005. A second
facility was opened in Chesapeake on October 12, 2005 in the Indian River Road Shopping
Center. The state’s ninth facility opened on January 18, 2006 in Scott County near the Virginia
boarder with Bristol, TN.
In 2003, a new statute was enacted requiring the Commission to license and regulate
advance deposit account wagering companies that have been operating in Virginia. As of
December 31, 2005, three account wagering licenses had been granted. The first license went
to Colonial Downs’ PhoneBet. TVG began operating in April 2005 and XpressBet was added
in May 2005. Two additional license applications are on file with the Commission and
approvals are still pending.
In 2005, a total of $12,691,398 in wagers was processed through the three account
wagering companies. XpressBet handled the most, $4,670,810, followed by TVG at
$4,080,824 and Colonial Downs/Phone Bet at $3,939,674.
In 2005, the General Assembly provided additional funding to the Commission to be
used as grants to support programs for the promotion, sustenance and growth of horse racing
and breeding in the Commonwealth. Approximately $180,000 has been carried over for use in
2006.
__________________________________________________
Total Pari-Mutuel Handle
Total Total Racing Daily Average Per-Capita
Year Handle Attendance Days* Attendance Wagering
1996 $ 36,952,607 178,570 338 528 $206.94
1997 95,094,161 578,831 840 689 164.29
1998 120,717,190 446,859 1,381 324 251.65
1999 121,324,249 544,744 1,351 305 222.72
2000 121,754,800 490,868 1,540 319 248.04
2001 123,879,396 511,856 1,445 354 242.02
2002 124,064,569 523,216 1,441 363 237.12
2003 130,382,875 552,632 1,534 360 235.93
2004 145,394,480 613,084 1,976 310 237.15
2005 151,758,202 665,555 2,490 267 228.02
Total $1,171,322,529 5,106,215 14,336 356 $ 229.39
*Includes live racing days and days of operation at satellite wagering facilities
Total Account Wagering Handle
2004 2005 Total
Colonial Downs/PhoneBet $1,287,541 $3,939,764 $5,227,305
TVG $4,080,824 $4,080,824
XpressBet $4,670,810 $4,670,810
Total $1,287,541 $12,691,398 $13,978,939
_____________________________________________
ABOUT COLONIAL DOWNS
It has been more than nine (9) years since the owners of Colonial Downs brought parimutuel
horse racing to Virginia. Satellite wagering facilities were opened in Chesapeake and
Richmond in 1996.
But it wasn’t until September 1, 1997 that Colonial Downs staged its first live meet—30
days of thoroughbred racing. Harness racing joined the schedule in 1998 and since that time
both breeds have run annual meets at the New Kent facility.
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, striving to
build on the established horse industry in the Commonwealth.
Now owned by Jeffrey and Richard Jacobs’ Jacobs Entertainment, 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.
In 2005 Jacobs Entertainment established the Grand Slam of Grass, a series of four turf
races run at three different racetracks. Two of the races are run at Colonial Downs—the
Colonial Cup that carried a purse of $500,000 in 2005, and the Virginia Derby at $750,000.
The third race is the Secretariat Stakes, run at Arlington Park, and the $2,000,000 John Deere
Breeders Cup Turf.
Jacobs Entertainment has announced that in 2006, the Colonial Cup and Virginia Derby
will carry purses of $1,000,000 each. A panel of experts reviews all stakes races run in the
United States and has awarded the Virginia Derby Grade 2 status for 2006.
In 2005, a Virginia record one-day pari-mutuel handle of $3,775,461 was established on
Virginia Derby Day. The previous mark of $3,084,466 was set in 2004, indicative of the
growth in popularity of Virginia Derby Day.
The standardbred (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.
Annually, the harness meet features a one-turn mile for most of its races. As a result a
number of record times have been established in Virginia. The highlight of the harness meet is
a day filled with races to showcase Virginia bred or owned horses.
For the horse racing industry in Virginia, 2005 once again was a very good year. Among the
highlights are:
• The state-wide pari-mutuel handle set a record of $151,758,202, an increase of 4.6%;
• A total of 665,555 attended the races at the track and satellite wagering facilities;
• Two new satellite wagering facilities were opened—in Martinsville, Chesapeake and
a third new facility opened in Scott County in January 2006;
• Two additional licenses, for XpressBet and TVG, to operate advance deposit account
wagering in Virginia under the jurisdiction of the Commission were granted.
As a result of the efforts in 2004 and 2005, horse racing in Virginia is able to expand live
racing days in 2006 to 42 for thoroughbreds and 36 for standardbreds. Additional live racing days are
vital to the growth of the horse racing and breeding industry in the state.
Live Thoroughbred Racing
Daily Average Daily Average Daily Average On-Track
On-Track Handle Total Handle Total Handle Attendance Per Capita
1997 $ 183,594 $28,182,006 $ 939,400 3,620 65.71
1998 141,154 21,293,467 881,473 2,263 75.03
1999 107,881 23,420,243 975,854 1,628 87.50
2000 90,589 27,923,752 872,617 1,247 109.81
2001 117,818 27,579,707 1,103,188 1,940 85.48
2002 140,067 31,039,485 1,193,826 2,202 86.95
2003 140,305 36,090,262 1,203,009 2,193 86.30
2004 138,236 36,205,494 1,064,867 2,155 91.68
2005 124,122 44,710,190 1,117,755 2,028 85.17
Live Harness Racing
Daily Average Daily Average Daily Average On-Track
On-Track Handle Total Handle Total Handle Attendance Per Capita
1998 $ 56,661 $7,260,770 $ 172,875 1,379 56.21
1999 41,319 5,795,265 193,175 909 62.31
2000 19,270 5,903,010 147,575 258 148.76
2001 30,912 2,459,010 163,934 486 105.54
2002 30,860 3,716,853 154,869 478 117.01
2003 34,585 4,148,072 148,145 580 101.50
2004 40,361 5,815,294 181,728 645 92.65
2005 26,859 6,217,238 172,701 620 85.68
____________________________________________
RICHMOND SATELLITE WAGERING FACILITY
4700 West Broad Street
Richmond, VA. 23230
20,000 Sq. Ft.
The Richmond Satellite Wagering Facility is centrally located on Broad Street, which is one of
the main thoroughfares in Richmond. The facility can accommodate up to 500 patrons with smoking
and non-smoking preferences, one central main bar area, and teller lines for up to 23 tellers. The
facility also has a VIP room with a full bar and tellers for patrons who prefer more privacy. The
facility has parking capacity for 350 vehicles.
Statistics
Number Daily Daily
of Race Total Average Total Average
Year Days Attendance Attendance Handle Handle
1996 21 17,403 829 $ 3,391,418 $ 161,496
1997 363 206,530 569 51,556,304 142,028
1998 363 178,841 493 50,183,501 138,247
1999 361 173,378 480 51,347,173 142,236
2000 361 162,921 451 49,096,147 136,000
2001 362 164,372 454 50,475,896 139,436
2002 360 159,222 442 49,986,746 138,852
2003 357 156,339 430 47,927,303 134,250
2004 362 123,682 342 40,821,803 112,767
2005 363 118,343 326 38,066,496 104,866
Total 3,273 1,461,031 446 $ 432,852,787 $ 132,250
_______________________________________________________
CHESAPEAKE SATELLITE WAGERING FACILITY
3376 South Military Highway
Chesapeake, VA 23323
15,000 Sq. Ft.
The first Chesapeake Satellite Wagering Facility is centrally located on South Military
Highway, which is 20 miles form Virginia Beach. The facility can accommodate up to 650 patrons
with smoking and non-smoking preferences, one central main bar area, and teller lines for up to 22
tellers. The facility has parking capacity for 300 vehicles.
Statistics
Daily Daily
# of Race Total Average Total Average
Year Days Attendance Attendance Handle Handle
1996 317 161,167 508 $ 33,561,189 $ 105,871
1997 363 148,373 409 35,138,043 96,799
1998 363 114,682 316 28,929,078 79,694
1999 360 106,782 297 30,154,358 83,762
2000 362 100,405 277 29,663,510 81,943
2001 362 103,778 287 30,031,322 82,959
2002 361 100,937 280 30,816,019 85,363
2003 359 102,054 284 32,839,851 91,476
2004 363 98,618 272 32,771,667 90,280
2005 366 83,032 229 27,557,180 75,915
Total 3,576 1,119,828 313 $311,462,217 $87,098
_______________________________________________
HAMPTON SATELLITE WAGERING FACILITY
1909 Commerce Drive
Hampton, VA 23666
13,500 Sq. Ft.
The Hampton Satellite Wagering Facility is centrally located on Commerce Drive near the
Hampton Coliseum. The facility can accommodate up to 580 patrons with smoking and non-smoking
preferences, one central main bar area, and teller lines for up to 16 tellers. The facility has parking
capacity for 270 vehicles.
Statistics
Number Daily Daily
of Race Total Average Total Average
Year Days Attendance Attendance Handle Handle
1997 7 1,651 236 $ 327,811 $ 46,830
1998 363 114,679 316 22,765,994 62,716
1999 361 103,945 288 23,298,797 64,540
2000 362 99,618 275 24,999,787 69,060
2001 362 99,718 275 26,083,186 72,053
2002 361 98,362 272 25,058,151 69,413
2003 358 95,064 266 25,947,756 72,480
2004 363 95,269 262 28,321,244 78,020
2005 363 85,723 237 26,720,455 73,610
Total 2,900 794,029 274 $203,523,181 $70,180
_________________________________________
BRUNSWICK SATELLITE WAGERING FACILITY
24 Colonial Downs Place
Alberta, VA 23821
20,000 Sq. Ft.
The Brunswick Satellite Wagering Facility is located two miles off Route 1 in Brunswick
County, which is 15 miles from the North Carolina border. The facility can accommodate up to 400
patrons with smoking and non-smoking preferences, one main bar area, and teller lines for up to 10
tellers. The facility has parking capacity for 500 vehicles.
Statistics
Number Daily Daily
of Race Total Average Total Average
Year Days Attendance Attendance Handle Handle
1997 14 1,460 104 $ 226,146 $ 16,153
1998 292 38,657 132 10,573,166 36,209
1999 269 27,925 104 11,404,545 42,396
2000 279 28,018 100 11,888,170 42,610
2001 265 24,821 94 12,085,136 45,604
2002 259 27,243 105 11,882,404 45,878
2003 292 28,548 98 14,094,878 48,270
2004 311 28,067 90 14,152,950 45,508
2005 309 25,276 82 12,620,398 40,843
Total 2,290 230,015 100 $98,927,793 $43,200
______________________________________________
SOUTH RICHMOND SATELLITE WAGERING FACILITY
6550 Hull Street Road
Richmond, VA
11,500 Sq. Ft.
The South Richmond Satellite Wagering Facility opened on November 12, 2003. The facility
can accommodate 300 patrons with seating for 180. Smoking and non-smoking areas are provided.
The facility employs 45.
Statistics
Number Daily Daily
of Race Total Average Total Average
Year Days Attendance Attendance Handle Handle
2003 48 8,634 180 $ 2,001,182 $ 41,691
2004 361 64,479 179 17,832,357 49,397
2005 363 63,337 174 18,318,539 50,464
Total 772 136,450 177 $38,152,078 $ 49,420
__________________________________________
VINTON SATELLITE WAGERING FACILITY
1135 Vinyard Road
Vinton, VA
14,600 Sq. Ft.
The Vinton Virginia Satellite Wagering Facility opened in October 2004. The facility can
accommodate 450 patrons with seating for 260. Smoking and non-smoking areas are provided. The
facility employs 45.
Statistics
Number Daily Daily
of Race Total Average Total Average
Year Days Attendance Attendance Handle Handle
2004 13,447 166 $2,455,993 $ 30,321
2005 357 49,607 139 10,807,394 30,272
Total 438 63,054 144 13,263,387 30,282
_________________________________________
MARTINSVILLE SATELLITE WAGERING FACILITY
3951 Greensborough Road
Martinsville, VA
12,500
The Martinsville, Virginia Satellite Wagering Facility opened on August 15, 2005. The facility can
accommodate 539 patrons with seating for 241. Smoking and non-smoking areas are provided. The facility
employs 50 people.
Statistics
Number Daily Daily
of Race Total Average Total Average
Year Days Attendance Attendance Handle Handle
2005 137 18,978 139 $3,529,839 $ 25,765
Total 137 18,978 139 $3,529,839 $ 25,765
_____________________________________________
NEW CHESAPEAKE SATELLITE WAGERING FACILITY
4301 Indian River Road
Chesapeake, VA
10,000 Sq. Ft.
The second Chesapeake Satellite Wagering Facility opened on October 12, 2005. It is located near
Virginia Beach. The facility can accommodate 291 patrons with seating for 156. Smoking and non-smoking
areas are provided. The facility employs 35 people.
Statistics
Number Daily Daily
of Race Total Average Total Average
Year Days Attendance Attendance Handle Handle
2005 80 15,648 139 $4,963,971 $ 62,050
Total 80 15,648 139 $4,963,971 $ 62,050
__________________________________________
Virginia Racing Commission
Statistical Sheet Colonial Downs Live Meet
Thoroughbred 2005 (40days)
Live Live Live Live Live Live
LIVE SIMULCAST Out of State Single Richmond Chesapeake Hampton Brunswick Vinton Richmond So. TOTAL TRACK On TRACK
DATE Day HANDLE HANDLE HANDLE Race OTB OTB OTB OTB OTB OTB HANDLE ATTEND PER CAP
17-Jun-05 Friday 148,197 67,470 514,524 - 9,995 6,047 5,440 881 2,208 4,930 759,692 3,118 69.17
18-Jun-05 Saturday 168,025 68,813 667,426 - 8,952 8,048 5,392 2,073 4,045 6,340 939,114 3,139 75.45
19-Jun-05 Sunday 178,910 55,660 495,114 - 9,180 3,527 3,685 2,123 2,431 3,509 754,139 3,586 65.41
20-Jun-05 Monday 77,896 21,095 1,117,301 - 9,810 4,128 4,844 1,020 1,760 2,705 1,240,559 1,028 96.29
21-Jun-05 Tuesday 77,487 25,352 813,561 - 9,272 3,106 5,921 - 2,100 4,458 941,257 988 104.09
24-Jun-05 Friday 93,429 51,676 556,203 - 10,897 3,479 4,839 1,533 2,100 4,691 728,847 1,546 93.86
25-Jun-05 Saturday 321,415 116,410 1,770,232 - 21,260 14,045 8,708 6,487 5,513 10,541 2,274,611 5,064 86.46
26-Jun-05 Sunday 131,170 61,016 636,172 - 13,264 6,736 6,075 2,551 3,203 3,799 863,986 2,131 90.19
27-Jun-05 Monday 72,622 20,898 1,071,496 - 4,740 3,682 3,696 828 2,588 2,620 1,183,170 815 114.75
28-Jun-05 Tuesday 83,843 21,529 1,057,449 11,276 3,148 5,189 - 2,236 3,500 1,188,170 773 136.32
1-Jul-05 Friday 105,478 43,353 746,695 - 11,454 6,316 6,583 1,728 1,294 3,999 926,900 1,640 90.75
2-Jul-05 Saturday 155,393 50,739 1,002,565 - 13,587 8,214 9,765 6,016 4,060 6,820 1,257,159 3,544 58.16
3-Jul-05 Sunday 162,378 67,560 730,939 - 9,134 7,582 5,192 4,805 2,761 4,240 994,591 2,820 81.54
4-Jul-05 Monday 123,709 46,493 701,091 - 8,665 6,019 4,583 2,287 2,138 5,204 900,189 2,095 81.24
5-Jul-05 Tuesday 74,005 22,852 1,346,696 - 14,694 6,590 7,663 - 1,199 4,329 1,478,028 854 113.42
8-Jul-05 Friday 117,178 52,133 676,510 - 14,217 6,125 4,400 2,069 1,234 3,306 877,172 1,884 89.87
9-Jul-05 Saturday 147,182 65,005 898,485 - 13,299 9,485 6,064 3,478 2,540 4,514 1,150,052 2,574 82.43
10-Jul-05 Sunday 143,274 55,160 657,346 - 7,715 6,822 4,864 3,283 1,448 4,561 884,473 2,226 89.14
11-Jul-05 Monday 65,281 20,664 1,157,410 - 11,690 4,683 5,243 1,304 1,169 3,776 1,271,220 824 104.30
12-Jul-05 Tuesday 100,377 25,325 1,055,925 - 8,153 4,736 4,928 - 2,339 4,085 1,205,868 1,321 95.16
15-Jul-05 Friday 14,851 51,804 113,161 - 1,713 910 1,454 262 417 901 185,473 1,232 54.10
16-Jul-05 Saturday 467,274 139,970 3,080,736 - 26,315 16,574 14,787 7,153 7,308 15,344 3,775,461 8,121 74.77
17-Jul-05 Sunday 103,359 36,166 791,674 - 10,551 4,906 4,742 2,622 1,188 6,017 961,225 1,935 72.11
18-Jul-05 Monday 67,955 20,732 1,243,722 - 9,996 4,184 4,767 2,192 1,812 3,731 1,359,091 755 117.47
19-Jul-05 Tuesday 86,588 23,467 1,094,297 - 9,515 4,225 6,687 - 1,783 2,758 1,229,320 1,170 94.06
22-Jul-05 Friday 108,947 53,042 574,791 - 8,425 4,256 7,408 1,386 2,067 4,774 765,096 1,880 86.16
23-Jul-05 Saturday 141,380 82,646 961,468 - 12,134 10,826 7,006 5,579 2,498 6,183 1,229,720 1,845 121.42
24-Jul-05 Sunday 146,039 72,580 478,075 - 7,261 3,781 3,783 1,679 1,159 3,245 717,602 2,675 81.73
25-Jul-05 Monday 63,767 28,118 925,883 - 10,132 5,624 4,872 1,311 1,031 3,375 1,044,113 996 92.25
26-Jul-05 Tuesday 15,239 26,757 304,909 - 2,309 1,287 1,661 - 505 1,159 353,826 927 45.30
29-Jul-05 Friday 103,629 41,522 807,301 - 10,705 7,110 6,925 1,545 1,708 4,515 984,960 1,841 78.84
30-Jul-05 Saturday 146,185 73,444 905,228 - 14,927 10,787 9,711 5,371 3,073 5,795 1,174,521 2,229 98.53
31-Jul-05 Sunday 142,819 48,979 792,971 - 12,122 8,427 9,695 1,931 1,224 5,292 1,023,460 2,191 87.54
1-Aug-05 Monday 91,194 33,159 1,133,067 - 11,665 5,200 8,685 1,639 1,877 3,996 1,290,482 808 153.90
2-Aug-05 Tuesday 80,330 20,734 1,049,460 - 8,012 5,063 5,367 - 1,921 3,834 1,174,721 958 105.49
5-Aug-05 Friday 104,826 45,493 841,972 - 10,595 6,006 7,804 2,984 1,783 5,672 1,027,135 1,761 85.36
6-Aug-05 Saturday 168,117 61,562 1,021,754 - 16,956 13,858 6,658 5,387 4,057 10,317 1,308,666 2,798 82.09
7-Aug-05 Sunday 158,062 52,169 750,052 - 8,277 7,071 3,351 3,517 1,529 4,513 988,541 2,319 90.66
8-Aug-05 Monday 88,257 37,228 775,118 - 8,783 3,567 3,511 1,653 1,672 4,145 923,934 1,245 100.79
9-Aug-05 Tuesday 118,828 36,165 1,188,957 - 11,387 4,451 4,972 - 2,757 6,129 1,373,646 1,470 105.44
TOTAL HANDLE 4,964,895 1,944,940 36,507,736 - 433,034 250,631 236,920 88,677 89,735 193,622 44,710,190 81,126
PERCENT OF TOTAL 11.1% 4.4% 81.7% 0.0% 1.0% 0.6% 0.5% 0.2% 0.2% 0.4% 100.0%
AVERAGE HANDLE 124,122 48,624 912,693 - 10,826 6,266 5,923 2,217 2,243 4,841 1,117,755 2,028 85.17
Average 2004 138,236 59,341 835,362 - 11,201 6,887 6,369 2,385 5,086 1,064,867 2,155 91.68
Average 2003 140,305 48,960 982,945 - 15,484 6,800 6,203 2,313 1,203,009 2,193 86.30
Average 2002 140,067 51,391 968,139 - 17,173 8,045 6,859 2,153 1,193,826 2,202 86.95
Average 2001 117,818 48,011 901,825 2,998 15,727 7,952 6,608 2,250 1,103,188 1,940 85.48
Average 2000 90,589 46,380 709,882 - 10,820 6,020 6,464 2,463 872,617 1,247 109.81
Average 1999 107,881 34,597 776,694 25,968 14,353 7,328 6,688 2,346 975,854 1,628 87.50
Average 1998 141,154 28,641 649,292 32,652 14,918 6,799 5,705 2,313 881,473 2,263 75.03
Average 1997 183,594 54,254 647,075 29,384 - - - - 939,400 3,620 65.71
* Note: 1997 Average Total Handle Includes $752,789 wagered at the OTB'S
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ABOUT THE BREEDER’S FUNDS
Funded by a 1% takeout of all wagering conducted in Virginia, funds have been
established for both thoroughbred and standardbred horses, their breeders and owners.
For 2005, a record $1,176,374 was generated for the thoroughbred breeders’ fund
bringing the nine-year total to $9,081,068.
Most of the thoroughbred breeders’ fund money is being distributed during the annual
live meet at Colonial Downs, including a 50% bonus for Virginia-breds earning purse money in
open competition.
In 2005, Virginia became one of the few states that allots thoroughbred owners’ awards
for horses that win races anywhere in the United States.
Harness racing, both live and simulcasting, accounts for more than 20% of total
wagering in Virginia. As a result, $2,263,435 as been generated for the standardbred breeders’
fund in the past nine years. In addition to a viable stakes programs, standardbreds also receive
bonuses for placing in open competition.
The Racing Commission has contracted with the Virginia Thoroughbred Association to
administer the thoroughbred breeders’ fund program and the Virginia Harness Horse
Association to manage the standardbred breeders’ fund.
Breeders’ Funds
Year Thoroughbred Standardbred
1996 $ 263,517 $ 105,288
1997 755,900 195,041
1998 917,484 289,688
1999 915,431 297,811
2000 942,714 274,834
2001 967,123 271,671
2002 970,555 270,091
2003 1,035,181 268,647
2004 1,136,789 317,156
2005 1,176,374 341,208
Total $9,081,068 $2,263,435
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TAX REVENUE
Revenue to the Commonwealth
Total Surplus to
Year Revenue General Fund
1996 $ 631,482 $
1997 1,595,802
1998 2,065,005
1999 2,090,137 4,101
2000 2,103,097 534,813
2001 2,150,599 513,222
2002 2,164,933 585,610
2003 2,280,446 940,127
2004 2,556,126 1,168,349
2005 2,680,582 1,093,966
Total $20,318,209 $4,840,188
Revenue to Localities
Year New Kent Chesapeake Henrico Richmond Hampton Brunswick Vinton Martinsville
1996 $ 157,871 $ 144,304 $ 6,783 $ 6,783 $ $ $ $
1997 408,498 159,665 113,726 113,726 1,430 855
1998 520,316 128,530 107,693 107,693 101,062 43,538
1999 524,049 132,641 108,839 108,839 101,396 46,906
2000 532,156 129,419 104,967 104,967 108,412 49,836
2001 539,392 131,455 107,885 107,885 115,242 51,140
2002 544,937 136,127 107,043 107,043 110,778 50,791
2003 574,992 145,928 103,758 112,388 113,880 59,092
2004 645,979 146,406 89,652 167,027 125,476 59,268 9,817
2005 676,257 146,065 84,164 165,595 119,218 52,244 44,660 14,615
Total $5,124,446 $1,400,540 $ 934,510 $1,101,946 $ 896,894 $ 413,670 $ 54,477 $ 14,615
Total Revenue
Commonwealth $20,318,209
Localities 9,941,098
Total $30,259,307
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2005 VIRGINIA DERBY
English Channel is shown here winning the 2005 Virginia Derby at Colonial Downs. The “Derby”
was the 2nd leg of the inaugural $5 million Jacobs Investments Grand Slam of Grass Turf Series.
Colonial Downs will host the first two legs of the four race series in 2006 on these dates:
1st Leg - $1,000,000 Colonial Turf Cup - Saturday June 24th
2nd Leg - $1,000,000 Virginia Derby (Gr. II) - Saturday July 15th
______________________________________________
VIRGINIA RACING COMMISSION
REPORT ON AUDIT
FOR THE YEAR ENDED
JUNE 30, 2005
APA
Auditor of Public Accounts
Commonwealth Of Virginia
Virginia Racing Commission
10700 Horsemen’s Road
New Kent, Virginia 23124
(804) 966-7400 • Fax (804) 966-7418
Web Site: www.vrc.virginia.gov