Re your penultimate line, I hope you right. But there's nothing to say you will be.
No I agree, but I take it from a personal point of view.
I like to drink and socialise at places, that have a great atmosphere, and where I have fun.
Be it a club, night club, or taking the kids to the park for a BBQ.
You go to the places that are better setup, and or are the most fun, we take the kids for a BBQ, we take them to a park with plenty of shade, plenty of swings, and a plenty of grass coverage where I can flop a big blanket and lay down and watch them run around silly while having a drink and a few snags
There is a big market, and probably not the market, that the administrators are looking for, but times are changing, and the younger crowd love to socialise, dress up and have a good time.
Most of which could care less if there were horses there or not.
But put the horses and the betting close to the younger crowds, and the bars you are going to covert a few, and you are going to get people coming back.
You need to get the crowds to the races, not for the racing, but for the event IMHO

But half the battle is getting them there, and having everything in the one place, is only going to get them coming back