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Fair Grounds slashes purses of three stakes Fair Grounds will reduce the purses of three stakes races still to be run this season -- the Fair Grounds Oaks (G2), the Mervin H. Muniz Jr. Memorial H. (G2) and the New Orleans H. (G2) -- by $100,000 each, to $300,000. "This move, painful as it is, ensures that we will not have to cut overnight purses for our final month of racing," Fair Grounds Vice President and General Manager Eric Halstrom said. "Looking at this from a long-term perspective we have to get closer to a balanced purse account if we are to offer the highest possible purses for our horsemen next season." The Fair Grounds Oaks will be contested on March 26, while the New Orleans and Muniz Memorial highlight the Louisiana Derby Day on March 27. Fair Grounds has offered some of the highest quality racing in the track's 138-year history this season while battling the worst winter weather ever in New Orleans, as well as a nationwide decrease in wagering that mirrors the overall economic downturn. According to figures released last week by Equibase, wagering in the United States this year is down 12.5 percent when compared to the first two months of 2009. "We're hoping that the world-class racing we have lined up for our big days during the final three weeks of the meet will allow us to end on a high note and then head into next year ready to go with an attractive purse structure and stakes program," Halstrom said.
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