"I don't think it says anything about the event overall," he said
Hooke attributed the lower totals to a sluggish economy and an ongoing dispute between horsemen and tracks over revenue splits related to off-track betting signals (that dispute also depressed gambling totals at this year's Kentucky Derby).
Asked if the lower numbers raised deeper concerns for the owners of Pimlico Race Course and Laurel Park, Borgemenke said, "No, not at all. I don't find these numbers to be devastating."
Overnight television ratings were also down slightly, 6 percent for NBC's overall coverage and 3 percent for the hour including the race.
Preakness business always receives scrutiny, because the event is largely responsible for the racing industry's profitability in Maryland. Last year's record crowd, for example, increased Pimlico's overall revenue by 35 percent.
The lower numbers this year mean 2008 projects as a less profitable year for the track and Jockey Club.
How much less profitable remains unclear, Borgemenke said, with concession and parking revenues still to be tabulated.
"The Maryland Jockey Club will make money, people had a good time, and we have a lot more money for purses than we did at this time last week," he said. "So I'd say it was a very successful day."
The drop in gambling was tied almost entirely to the Preakness itself, with wagers on the big race falling almost $12 million short of the 2007 total.
That drop is understandable, given that last year's race featured a dramatic showdown between Kentucky Derby winner Street Sense and eventual Preakness champ Curlin.
Conversely, Derby winner Big Brown was an overwhelming favorite in this year's race, going off at 1-to-5 odds.
"Big Brown was regarded as such a clear favorite that I think that probably diminished the handle," Capps said. "It was just perceived by a lot of experienced horse wagerers as not a good betting race."
The drop in wagering was in line with overall industry trends. Wagering on U.S. races dropped 3.11 percent from the first quarter of 2007 to the first quarter of 2008, according to the National Thoroughbred Racing Association.
The NTRA cited the general economic downturn as a possible factor in that decline.
Crowds have also been down at many tracks, though attendance for the Preakness had increased steadily since the Jockey Club began adding seats to the grandstand early in the decade.
With tickets selling for $60 and up, the loss of 9,000 paying customers from 2007 is nothing to sneeze at.
"The attendance matters of course for the big days, because those events aren't entirely or even mostly about racing," Capps said.
Borgemenke said that based on ticket sales leading up to the race, the new policy prohibiting grandstand customers from bringing alcohol probably drove some to the infield.
But it's not clear whether it was a net win.
The infield filled to its 60,000 capacity earlier than usual, which should be good for concessions, he said, but those figures aren't available yet.
The economy might also have contributed to a 10 percent drop in corporate sponsorship for the Preakness. The number of corporate tents in the infield has also dropped steadily, from 45 in 2001 to about 30 this year.
childs.walker@baltsun.com
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