Competition
In 2001, Indiana Downs became the second horse racing track in the state. Initially located in Fairland, Indiana; it was later annexed into nearby Shelbyville, Indiana.
Competition eventually took its toll on Hoosier Park. When Indiana Downs opened, Hoosier Park was forced to split the state subsidy granted when the state had to issue two licenses. Also for the first time, Hoosier Park faced competition; both tracks are approximately 40 minutes apart and are about 15 minutes outside of Indianapolis.
Since 2003, both tracks have lost approximately $20 million combined.
Read more about this topic: Hoosier Park
Famous quotes containing the word competition:
“The praise of ancient authors proceeds not from the reverence of the dead, but from the competition and mutual envy of the living.”
—Thomas Hobbes (1588–1679)
“So long as the system of competition in the production and exchange of the means of life goes on, the degradation of the arts will go on; and if that system is to last for ever, then art is doomed, and will surely die; that is to say, civilization will die.”
—William Morris (1834–1896)
“Like many businessmen of genius he learned that free competition was wasteful, monopoly efficient. And so he simply set about achieving that efficient monopoly.”
—Mario Puzo (b. 1920)