Tulsa, Ok – Despite losing money on its live horse racing meet, Fair Meadows is proving to be profitable for Expo Square and Tulsa County.
Figures provided to the Tulsa World by Expo Square show that for the fourth straight year, the live handle and revenues at Fair Meadows declined. The Tulsa County Public Facilities Authority lost $701,520 on the 34-day race meet, held in June and July.
Still, the track has made at least $1.5 million annually for the fairgrounds the past four years and is expected to do so again in 2010.
That's because of a 15-year deal with three area American Indian tribes. Under the 2005 agreement, Fair Meadows receives at least $2 million a year from the Cherokee Nation, Muscogee (Creek) Nation and the Osage Nation in lieu of installing gaming machines at the track.