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.