Emerald Racing Club attracts 122 in first year

The Emerald Racing Club is a new endeavor and while planning out the program we had set a goal number of 50 members in it’s first year.

I’m thrilled to report that we have 122 members in our first year pending late mail!

As mentioned, we plan to share the financials with you on a monthly basis and explain the expenses. Here is the budget based on the 122 members and claiming two horses (one for $8,000 and one for $5,000).

Emerald Racing Club Budget

As the actual expenses come in, we will explain each one. The budget you see here is assuming a couple things:

1) The horse won’t start racing until May. This is because Golden Gate racetrack has “jail rules.” Jail rules are in place at racetracks to keep horses from leaving the grounds and depleting their horse population. The rules at Golden Gate are that any horse claimed may not race at another track for 45 days OR the horse must make one start after being claimed at Golden Gate and then is free to run elsewhere. If we purchase the horse privately, we can avoid the jail time.

2) Our revenue is conservative assuming only one start per horse per month beginning in May. The revenue counts a $125 starter fee that the horse earns even if it finishes in last place.

3) Our expenses regarding vet and farrier are estimated high.

4) Revenue from the sale of the horses at the end of the season has not been budgeted in order to build a conservative budget.

With two horses, the fee going to the Washington Horse Racing Commission goes up from $108 ($83 license fee, $10 fingerprint, $15 L&I) to $123 to account for an additional $15 per person payment for L&I on the second horse.

All of the money you have invested as an owner ($500) goes directly into the Emerald Racing Club and the expenses involved with your ownership.

Welcome to the Club and I look forward to announcing our racehorse very soon!

Regards,

Sophia McKee

Dir. of Marketing

Emerald Downs

emeraldracingclub@gmail.com

253-288-7719

 

 

 

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3 thoughts on “Emerald Racing Club attracts 122 in first year

  1. Woohoo! I am excited! I can hardly wait to learn more about our horses! Do we know yet what our racing colors are going to be? How many guests can each owner invite on the Tram tour to the vet clinic and the stables? I’m looking forward to meeting all of you on April 13th!

    • Hi Doris,

      Our racing colors might look a little familiar. Remember Secretariat’s blue and white checkers? Ours will be green and white! They are being sewn now and we will have them shortly.

      With regards to guests for orientation, you are welcome to bring one guest. The tram can accommodate approximately 125 people so we may have to run two trips.

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