2002 - Harness Tracks of America, Inc.

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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 ZOFFINGER NAMED PRESIDENT George R. Zoffinger, Gov. James McGreevey’s choice as new head of the New Jersey Sports and Exposition Authority, was appointed president by the Board of Commissioners last Friday and is working on a plan to realize greater administrative efficiency and enhance revenues at the Meadowlands and other NJSEA facilities. Zoffinger, who has accomplished notable business restructuring during his career, called that aspect of his new post “the most exciting, most important period of any new assignment,” and said he had been spending time since his appointment by the governor visiting facilities and preparing a budget and transition report to the governor. SETBACK FOR FLORIDA VLTS The Florida legislature ended its session Friday night without approving VLTs for the state’s 31 racetracks and jai alai frontons, but Senator Steve Geller says the proposal will still be on the table when legislators return to Tallahassee to work on the state budget. “Not only do we need the tax dollars,” Geller told the Miami Herald, “but we also need to keep the Florida parimutuel industry alive. The VLT bill is still in play.” A similar bill still is in play in Kentucky, but time is running out with only eight days left in the session and Senate leaders saying the bill has about as much chance as a $20,000 claimer in the Kentucky Derby. Legislative leaders in both houses are calling passage unlikely, and the Senate may not even vote on the bill. An attachment to the budget bill may have the best possible chance. The Lexington Herald-Leader thinks a referendum on the issue would take political pressure off legislators, but the bill’s principal House sponsor says he will deal with that only when he knows the bill is dead. He may not have long to wait. March 25, 2002 NY DEADLINE FOR TRACK VLTS The New York state lottery division, which will administer track VLTs in the Empire state, has given tracks until April 1 to opt in or out of the program. The division is ready to divvy up the 11,400 VLT terminals among eight tracks, but only on the terms of the legislation, without further financial assistance. Under its plan, Yonkers Raceway will get 2,500 machines, Monticello 1,800, the Saratoga Equine Sports Center 1,000, Buffalo Raceway and Batavia Downs 750, and Vernon Downs 500 this year and another 600 next year. The 25% track cut will remain static, and tracks still must foot the bill for construction and security, and there still is a 3-year sunset provision on the legislation. While this is going on in New York, Tri-State Racetrack in Nitro, West Virginia got commission approval for another 1,000 slots, doubling its present allocation, to bolster the Charleston-area track as a tourist attraction. Tri-State says it will use slots revenues to finance $15 million in expansion construction, including a new restaurant, simulcast parlor, four bars and an entertainment facility with a stage for performers. $100 MILLION 5-YEAR LEASE The Des Moines Register reported yesterday that the impasse in negotiations between Prairie Meadows Racetrack and Casino and its landlord, Polk county, have produced an agreement on a $20 million a year, five-year contract that will give the county $100 million and enable it to go forward with bond repayments adequate to build a new $212 million Iowa Events Center in downtown Des Moines. A county supervisor says “We promised that we would not build the Events Center on the backs of taxpayers. This allows us to do that.” The handshake agreement must be ratified by the county and Racing Assn. of Central Iowa, which holds the Prairie Meadow license, and the county.
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 MD TRACKS TO GET $$$ HELP Although there still is no agreement between harness and thoroughbred racing in Maryland, legislators apparently have decided the threat to the state’s racing is too great to withhold help to the tracks. The Senate moved last week, and the House is expected to follow suit this week, on returning $4.5 million to the tracks that was raised through increased takeout originally intended to finance the sale of bonds for track improvements. That plan never materialized. John Franzone, a member of the Maryland Racing Commission, told the Baltimore Sun, “We should have reduced the takeout and gotten rid of the bond fund, but it’s the same story: everybody couldn’t get together on all the aspects of a global bill.” The takeout increase had earmarked the first 1.5% for the bond fund, which will amount to some $4.5 million by June 30, 2003, the end of a new fiscal year in Maryland. Instead, the money will be returned to the tracks from whence it came, 70% to thoroughbred racing and 30% to harness racing. Governor Parris N. Glendening already transferred $3.7 million of the takeout money from the bond fund to the state’s general fund. Joe DeFrancis of the Maryland Jockey Club said that in view of the budget crisis in the state, racing was fortunate that the $4.5 million would be returned to racing. Commissioner Franzone may have echoed the legislators’ fears when he noted that thoroughbred racing was having trouble filling races and neighboring Delaware Park was due to open April 27, with its slots and higher purses. ANOTHER VLT BILL IN FLAMES Kansas became the latest state to shoot down track VLT legislation, when the House Tourism Committee tabled, by a 9-7 vote, a measure that would have allowed slots at the state’s five pari-mutuel operations and one other unspecified site. March 26, 2002 The action brought angry accusations from Republican legislators against the Democratic committee members who killed the bill. The Democrats said the bill would benefit the Kansas City Wyandotte county area at the expense of other counties. The angry Republicans had a different view. The House speaker pro tem said, “Apparently they felt if they couldn’t get their way, they would shoot themselves in the foot.” Another Republican leader said the committee action meant there would be no slots bill passed this year, adding, “They threw it away for one million or one and a half million bucks.” NEVADA SAYS NO TO INTERNET After the state attorney general cast doubts on the legality of Internet gambling, saying federal laws still were unclear (what a surprise!) the Nevada Gaming Control Board ruled that the state’s casinos can’t legally take bets from outside the state. Gaming consultant Gene Christensen said, “Things are stopped as far as the state of Nevada is concerned, and I wouldn’t expect that to change.” MGM Mirage, which is developing an Internet site on the Isle of Man, said it planned to go forward there and would make certain it accepted bets only from areas where Internet wagering is legal. Nevada, meanwhile, is taking a calculated risk. It has asked the Justice Department to review the Nevada attorney general’s overview of federal laws and give it “guidance and clarification.” Justice notified the AG’s office that it “would study the matter.” The AG’s office called the matter “a million dollar question right now.” It may get an answer it doesn’t want, and it may find the question is a lot more than a million dollar matter. BE A TV STAR AT NORTHFIELD Northfield Park is inviting fans to take part in new TV commercials. Dress is “business casual” for the shoot, 7 to midnight, Saturday, March 30.
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2002 - Harness Tracks of America, Inc.

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