Courtesy NYRA
By Paul Post
Golden Tempo’s dramatic come-from-behind Belmont Stakes victory set the stage for what promises to be an exciting summer season at Saratoga Race Course.
Trainer Cherie DeVaux, a Saratoga Springs native, made history by becoming the first female trainer to win the Kentucky Derby and the first to win multiple Triple Crown races.
DeVaux has already mapped out a schedule targeting the $1.25 million Travers Stakes on Saturday, Aug. 29, which should no doubt bring huge throngs to the Spa.
“I think the timing is perfect for Golden Tempo to run in the Travers,” said longtime fan Mike Campanile of Long Island. “He is only getting better and the two-plus months between races is perfect. Then it’s almost exactly two months to the Breeders’ Cup. I hope he stays sound.”
Campanile, along with family and friends, is among the legions of visitors who help make Saratoga Race Course one of the Capital Region’s most significant economic engines.
Each day of racing generates an estimated $9 million economic impact. So the benefit from this year’s 51-day schedule is almost half a billion dollars.
Such activity includes direct spending and broader ripple effects, giving a huge boost to local businesses such as hotels, restaurants and retail stores.
Local government revenue increased, too.
“From 2023, before we hosted the Belmont festival, to 2024, we saw an increase in sales tax collections in Saratoga County,” said Todd Shimkus, president of the Saratoga County Chamber of Commerce. “They rose again in 2025. The same is true for revenue-per-available hotel room in the city and county. Where people stay is where they spend their money and more people stayed here so sales tax collections went up.”
The Belmont Stakes Racing Festival will return to New York City next spring following its three-year run in Saratoga while Belmont Park underwent a major overhaul. But the benefit to the Saratoga area will be felt for years to come.
Three-year attendance at the Belmont festival totaled 334,893 and accounted for almost $560 million in total wagering. But the worldwide publicity the event created is virtually priceless for the area’s tourism and hospitality industry.
“The 2026 Belmont Stakes was a fitting conclusion to a memorable and historic three-year period at Saratoga Race Course,” said Patrick McKenna, New York Racing Association vice president of communications. “Thanks to the enthusiastic support from fans and the collaborative efforts from city and county leadership, the Belmont was a celebration of what makes racing in Saratoga so special. While the Belmont Stakes will return to its Long Island home in 2027, the final jewel of the Triple Crown will always be a part of Saratoga’s rich history.”
“Beyond the thrilling performances on-track, the event drove important economic impact for Saratoga Springs and the Capital Region while highlighting Saratoga’s tourism attractions to a national television audience,” he said.
In addition to five days of top-flight racing, the festival attracted thousands of people to the city with entertainment such as a free Belmont on Broadway concert.
“The Belmont Stakes Racing Festival definitely exceeded expectations both on and off the track,” Discover Saratoga President Darryl Leggieri said. “Over three years, we welcomed visitors from across the country and around the world, generated demand for hotels, restaurants, attractions, and retail businesses, and showcased Saratoga Springs and Saratoga County on an international stage. The event reinforced what we’ve long known locally, that Saratoga is capable of hosting world-class events while delivering an exceptional visitor experience.”
“One of the most important long-term benefits of Belmont has been the exposure,” he said. “The worldwide media coverage introduced Saratoga to audiences who may have never previously considered visiting. While the immediate economic impact during race week was substantial, the lasting value comes from elevating Saratoga’s profile as a premier destination for tourism, meetings, events, cultural experiences, and future investment.”
Saratoga Economic Development Corp. President Greg Connor said racing’s financial benefit extends far beyond hospitality and tourism. Capital investors who have come to Saratoga Springs and the region “follow up with us after the racing season is over for other economic opportunities,” he said.
SEDC has executed four nondisclosure agreements on potential capital investments that officials hope will come to Saratoga County as a result of international, national and regional attention generated by the Belmont Stakes festival.
“The work continues,” Connor said.
Forty-six more days of racing are on tap this summer, starting with the July 4th Racing Festival from Friday, July 3, to Sunday, July 5. The Spa Oval will then host a series of four-day racing weeks, Thursday through Sunday, from Thursday, July 9, to Sunday, July 26, before a five-day racing week resumes Wednesday, July 29.
The summer meet will conclude with a six-day week from Wednesday, Sept. 2, through Labor Day, Monday, Sept. 7.
Next year, Belmont Park will once again host the Belmont Stakes and July 4th Racing festivals, while Saratoga Race Course reverts to its traditional 40-day summer meet.
“Our hotels, bars, restaurants, and shops are all asking what are we doing to replace those visits and that business in 2027,” Shimkus said. “This really was a once or three-time in a lifetime chance to showcase our small city to the world, and I think from the kick-off Belmont on Broadway concert to the Racing Festival itself we outperformed expectations. We demonstrated that we are a fully functional, fun and safe major events destination.”
“The publicity generated shined a great spotlight on Saratoga and all of our amenities and attractions,” he said. “The media coverage was phenomenal and the stories Fox Sports shared were 110 percent positive, helping to capture some of the best stories about this city you will ever see. I really believe we will see a positive impact particularly in visits for years to come, and once people visit here you have a chance to get them to invest here, too.”