Attendance and betting at the Preakness hit five-year-lows on Saturday, and fewer people watched on television than last year.
Does this signal a worrisome decline in business for Maryland's signature race or did a sluggish economy and the anticipated dominance of Big Brown lead to a one-year blip?
Magna Entertainment Corp. officials and industry analysts say that the numbers weren't down enough to raise long-term questions about the health of the Preakness. Magno owns Pimlico.
The crowd of 112,222 and the betting handle of $73,457,510 were both fifth best in the event's 133-year history. But the four totals that ranked higher were all registered between 2004 and 2007.
Last year's Preakness attracted a record crowd of 121,263 and a near-record gambling haul of $87,194,161.
"We expected the numbers to be down a little bit based on the economy," said Scott Borgemenke, executive vice president of racing for Magna. "We were probably a little surprised by how down they were."
All the makings for a big crowd were there: It was a picture-perfect day and a chance to see history in the making with Big Brown going for the second leg of the Triple Crown.
But industry experts say a sluggish economy, an overwhelming favorite and some people anxious over Eight Belles being euthanized after the Kentucky Derby could have kept people away.
"A prohibitive favorite like that is absolutely not enticing," said Doug Reed, program director for the Race Track Industry Program at the University of Arizona, also noting the economy and overall stagnation in horse betting as factors.
Other industry observers say one down year isn't reason to panic.
"I wouldn't be bothered by those numbers," said Tim Capps, a former executive at the Maryland Jockey Club who's now an equine industry expert at the University of Louisville. "It looks like just a blip in the radar after three or four years of tremendous growth. I think you only start worrying if in three years, you're looking at a steady downturn."
Capps cited many possible reasons for the lower numbers, from the sluggish national economy to the weakness of the Preakness field to the chance of showers in the weather forecast.
It's even possible, he added, that some fans stayed away because of the death of Eight Belles.
"That's a question you just can't answer," he said.
The declines are linked to short-term factors, added Jeffrey Hooke, a Bethesda-based investment consultant who analyzes gambling issues.
