Hollywood cuts stakes purses by 27.5%

Hollywood Park reduced stakes purses by 27.5% to $5.8-million for the 60-day spring/summer meet that begins April 21.

Hollywood will offer 45 stakes races, down from 49 over 65 dates in 2009. The track trimmed its two richest races from last year, with the Hollywood Gold Cup Stakes (G1) cut from $700,000 to $500,000, and the American Oaks (G1) from $700,000 to $250,000.

The Ack Ack Handicap (G3), Cinema Handicap (G3), and Round Table Handicap (G3), Flawlessly Stakes, Gallant Man Stakes, and Khaled Stakes have all been shelved this year. The Jim Murray Memorial Handicap (G2) and Will Rogers Handicap (G3) both return from hiatus.

“We’ve made these changes in an effort to keep overnight purses as high as possible as we cope with the struggling economy,” said Martin Panza, Hollywood’s vice president of racing. “We’ve got to put as much money in overnight purses as possible to aid horsemen in these tough economic times.”