Welcome to Participants and Guests
Stuart S. Janney III
Stuart S. Janney III, Chairman, The Jockey Club

Stuart S. Janney III: Good morning, ladies and gentlemen, and thank you for your interest in our conference, whether you're sitting here at the Gideon Putnam in Saratoga or watching the event on a TVG platform. It's my pleasure on behalf of all of us at The Jockey Club to welcome you to the 66th Annual Round Table Conference.

At the outset, I'd like to thank Kip Levin and the TVG group for making this conference available to everyone who can't be here today. I'd also like to recognize Congressman Paul Tonko and thank him for being here and his support for our industry.

Over the course of the past 65 years, both our sport and the world we live in have undergone dramatic change. Did those who attended the early versions of the Round Table Conference in New York City ever imagine the concepts of off-track betting, international simulcasting, advance-deposit wagering, or, most recently, legalized sports betting?

While our sport has changed, the purpose of this conference has not. We still want to hear how other industries and racing jurisdictions perceive our sport and listen to their advice on improving it.

Today's agenda is a reflection of that philosophy, and we hope you will find the next two hours educational and worthwhile.

Simon Bazalgette is with us from England to share some insights on racing in the U.K. Dan Singer and Mike Salvaris of McKinsey and their colleague Chris Pollak of Google are with us again today. The Jockey Club has had a long and immensely beneficial relationship with McKinsey & Company, the global management consulting firm.

In 1991, McKinsey unveiled the seminal drug testing report entitled "Building a World-Class Drug Detection System for the Racing Industry: A National Strategic Plan," which provided a roadmap, which is still useful more than 25 years later.

In 2011, Dan, Mike, and their colleagues were here to provide their findings and recommendations with their comprehensive economic study of our sport, and they have provided additional insights to us since then.

Dan and Mike have come to know and appreciate our sport, and they are all here today to share some new findings and recommendations. I think it's worth noting that McKinsey is doing work for all the major professional sports leagues.

We'll start today's program with Laura Barillaro, our executive vice president chief financial officer, who will deliver the Activities of The Jockey Club Report. Laura?

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