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
AS THE WORLD TURNS
While Congress considers whether the Internet is
here to stay, and the Christian Coalition and Southern
Baptist Convention endorse Rep. Jim Leach’s
bill to ban credit cards, electronic fund transfers
and checks to pay for Internet gambling transactions,
and Frank Fahrenkopf moans about racing
getting breaks while his Las Vegas casinos don’t,
England talks sense and catches up with the
present.
The British government is half-way home in the
long process of regulating and legalizing Internet
gaming, according to Interactive Gaming News. It
appears it has a common sense leader in Culture
Secretary Tessa Jowell, who says, “Both society
and technology have overtaken the law, and when
that happens the government must act. These reforms
will significantly increase adult choice while
making sure that those who need protection receive
it. We are confident that the measures we
intend to introduce will rid the industry of outdated
restrictions and allow British companies to compete
with off-shore based Internet operations,
while ensuring the continued integrity of the industry
and protecting the vulnerable. They represent
an exciting opportunity for the British gambling
industry to become a real competitor in the
global gambling market.”
HAVE TROUBLE WITH CHECKS?
Bad ones, that is. So does the Ritz casino in London,
big time. It tired of chasing the Syrian-born
Fouad al-Zayat, also known as the Fat Man, whom
it said wrote $2.9 million in bounced checks, and it
took the rare step for a casino of going public, and
going to court. The court froze Fouad’s assets,
including a Boeing 727 jet and a $226,000 Rolls
Royce. The casino said al-Zayat had visited
the Ritz 156 times since 1999, losing
more than $14 million.
March 27, 2002
MGM MIRAGE REBUFFED IN CHI
A continuing saga in Chicago is the fate of the
embattled Rosemont Emerald casino, still standing
as a skeleton awaiting the outcome of actions
by the Illinois Gaming Board. The latest act in
the long running drama is the board’s rejection of
an offer by MGM Mirage to buy out the investment
group that started the Rosemont project.
MGM had offered to pay a total of $615 million
for the casino, but the board’s administrator, Philip
Parenti, issued a statement saying, “The board has
rejected the current MGM proposal and is considering
its own counterproposal, which encourages
a process in which other candidates, including
MGM, can participate as part of a settlement
agreement.” Park Place Entertainment also has
expressed interest, and the board’s rejection of
MGM Mirage’s offer led gambling opponent Rev.
Tom Grey to say, “The price of poker has just gone
up.”
JUST HOPE IT DOESN’T RAIN
Churchill Downs has announced its ambitious security
plans for the upcoming Kentucky Derby,
and presumably has received celestial assurances
that it won’t rain on Derby Day, May 4. Among
many other things, the track will not allow umbrellas
to be brought onto the grounds. You may get
wet, but you won’t get hungry, if the weather
doesn’t cooperate. You can bring box lunches and
other food items if they are packaged in clear plastic
bags not more than 18 inches by 18 inches, but
no bottles or cans or thermoses. Back packs and
duffel bags also are out, and there will be security
sweeps of all vehicles entering the grounds. If
you bring cell phones you’ll have to turn them on
before entering, and vehicles parked in all lots will
be subject to search. Concrete barricades will be
set up 75 feet outside gates where vehicles can
enter, and all 120,000 or 130,000 entering
will be subject to magnetic wand searches.
Have fun, and stay dry.