2002 - Harness Tracks of America, Inc.

HARNESS TRACKS OF AMERICA
Executive Newsletter
A daily fax and e-mail report on racing and gaming developments in North America and beyond
Stanley F. Bergstein, Editor
MAGNA STOCK OFFERING
Magna Entertainment has announced that it now
is proceeding with the stock offering it first announced
on Oct. 26 of last year, but deferred “in
view of market conditions.” Magna now intends
to proceed with a public offering of 20 million
shares of its Class A Subordinate Voting Stock in
the U.S. and Canada. Magna says the net proceeds
will be used for general corporate purchases,
including repayment of borrowings, working capital,
capital expenditures and the potential acquisition
or construction and development of additional
racetracks and related entertainment operations,
training centers, OTB facilities and account wagering
operations.
THE ROCK ON THE MARKET
Blaming the state legislature for sealing the fate
of his track by defeating a bill that would have allowed
VLTs, Rockingham Park general manager
Ed Callahan says it no longer is a matter of
whether Rockingham will close, but when, and that
the track’s owners are trying to sell the plant. “I
don’t believe there is any long-term viability for
horse racing in New Hampshire,” he said. “The
light at the end of the tunnel isn’t there.”
Rockingham had sought slots all winter, but a bill
to permit was killed by the House last month.
Callahan says Rockingham will complete its 2002
season and simulcasting operations, but will not
decide until later this year as to whether it will seek
a license for 2003.
KY VETS MAY GO OWN WAY
Kentucky track veterinarians, and others who
share their views, may formalize into a vets’ organization
separate from the American Association
of Equine Practitioners. Currently known as
The Race Track Practitioners, the rump
group says it feels their minority views on
race day medication and other issues are not
being heard.
March 11, 2002
The Blood-Horse quotes Dr. Arnold Pessin, one of
the most vocal of the Kentucky group, as saying
current AAEP efforts to implement uniform medication
rules represent “a stacked committee, cloak
and dagger.” Dr. Jerry Johnson, a Kentucky veterinarian
who tried but failed to be included on an
industry-wide AAEP-sponsored committee studying
the problem, said that group “feels Kentucky
is the root of all evil -- a druggie state.” AAEP
president Dr. Jerry Black told Blood-Horse that
the medication group did listen to vets, and “ended
up with a policy that supports the broader issue of
uniformity in medication. The AAEP policy is more
mainstream in what’s being done across the United
States.” That policy rejects the Kentucky wish
for use of multiple therapeutics on race day.
MASTER OF HIS CRAFT IS GONE
The death of Ted Leonard last week at 76 removes
from the harness racing scene one of the most
outstanding practitioners of the craft of racing classification.
The editor knew and regarded
Leonard’s father as one of the most accomplished
trainers in Illinois harness racing, and grew up in
the sport as a contemporary of Ted’s as he served
with distinction at 20 tracks in the sport. Ted knew
the job so completely and thoroughly, in all its nuances
and complexities, that he was admired by
horsemen as a master of his craft. Our condolences
to his family.
MARYLAND LOOKS FOR EXEC
The Maryland Racing Commission is looking for
a replacement for the veteran Ken Schertle, now
retired. Candidates must have 10 years of experience
in administrative or professional work, including
5 related to the pari-mutuel industry. Applications
and resumes should be sent to the commission
at 500 North Calvert Street, room 201,
Baltimore, MD 21202, with postmarks no
later than March 15.