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WHERE THE HOLLYWOOD BETTING DOLLAR REALLY GOES
Whitney Tower
July 13, 1959
$3,514,241 mutuel handle at Hollywood on typical Saturday (June 20) saw $3,029,395 going back to winning ticket holders. Tax of 6?% sent $238,849 to state of California. Track commission of 7% amounted to $245,997, went to Hollywood Park racing association less expenses and overhead.
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July 13, 1959

Where The Hollywood Betting Dollar Really Goes

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$3,514,241 mutuel handle at Hollywood on typical Saturday (June 20) saw $3,029,395 going back to winning ticket holders. Tax of 6?% sent $238,849 to state of California. Track commission of 7% amounted to $245,997, went to Hollywood Park racing association less expenses and overhead.

$343,431 constituted total track income for day. Major portion of money (71.7%) was accrued from Hollywood's commission of betting dollar. Other sources of income were admissions, $65,654 (19%); fees from parking lot, $6,070 (1.8%); program sales, $9,316 (2.7%); concessions, $16,394 (4.8%).

$36,120.84 (11.1% of income) was net profit for Hollywood Park for typical Saturday. Of track expenditure dollar, most (29.3%) went to purses, stakes. Then 25.8% went to salaries and wages, 17.3% to federal income and other taxes, and 16.5% was allocated to depreciation, advertising, etc.

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