April - 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 WILL THEY OR WON’T THEY The New York State Racing and Wagering Board is meeting at Vernon Downs today to decide on a 2002 license for the financially embattled track. Track president Justice Cheney thought that the fact that the board had moved its meeting from yesterday in Albany to Vernon today was an encouraging sign, saying “they will get a chance to see how important our license is to the local people and the local area.” Vernon hopes to open its 50th season of racing May 3, but the racing board wants to review its financial status and hear details of the $8.5 million, 2-year-loan, at 15% interest, from Las Vegas entrepreneur Shawn Scott, and the threatened lawsuit by the Eric Cherry group that exercised an option to buy the track for $9 million but can be voted down by Scott, who has gained control of almost 40% of Vernon’s stock. POMPANO DEAL CHALLENGED Pompano Park’s agreement to exchange simulcast signals with Gulfstream Park, which got underway on Sunday, March 24 and was challenged by the Florida Division of Pari-Mutuel Wagering two days later, now is under reconsideration following a teleconference between Pompano, Gulfstream and Calder officials and attorneys, horsemen’s reps, the Division, and the Bureau of Business Regulation, which oversees the Division. The Division contends that the exchange is contrary to Florida law and told the tracks they had exposed themselves to “potential disciplinary action by the state.” Lawyers for the tracks disagree with that interpretation, have a different view of the statute, and presented their opinions accordingly. Track officials said they considered the conference to have been a good meeting and look forward to further dialogue with the Division, and are continuing the daily simulcast exchanges pending further word. April 2, 2002 FEINBERG FLIES UNITED Regardless of how the cross-breed simulcasting discussions turn out, Pompano Park general manager Dick Feinberg flies on in national commercials for United Airlines. A United spot shows one of its huge airliners with “Richard Feinberg” painted large on the side of the fuselage. The commercial goes on to say that “We fly 120 (or whatever the number) 747s and one Richard Feinberg.” That should be good for a few years -- maybe a lifetime --of free first-class tickets to anywhere, Dick. Look into it. BAD NEWS COMES IN THREES The old adage hit harness racing hard in the last week. First came the collapse and death of Louie Louie Too, third ranked 3-year-old pacer in this year’s Experimental Handicaps, while preparing for a training mile for Joe Holloway last Wednesday at Showplace Farm in New Jersey. Then the top rated colt, Western Shooter, was euthanized in Ontario. And yesterday trainer Chris Marino announced that the 3-year-old trotting filly of 2001, Syrinx Hanover, undefeated in 12 starts last year, was being retired after going lame while training at the Red Mile in Lexington, Ky. She will be bred to the red hot trotting sire Garland Lobell. GOT A PROBLEM RAISE TAKE California, like the rest of the country, is facing a major problem as insurance premiums soar. No official approach has been taken yet, but discussions at a California Horse Racing Board meeting last week floated the idea of softening the blow by -- you guessed it -- raising takeout, and have the constantly diminishing public that bets on racing underwrite the cost. The Thoroughred Owners of California think they will support the idea. One who won’t is the CHRB’s vice chairman Roger Licht, who says he opposes a hike in takeout.
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 VERNON TRIES AGAIN TODAY The New York Racing and Wagering Board, meeting yesterday at Vernon Downs, declined to license the track and tabled the matter, raising questions about financing including the status of Shawn Scott, the Las Vegas investor who has loaned Vernon $8.5 million to stay afloat. The track used $3.5 million to avoid foreclosure on its Vernon Country Suites Hotel, where yester-days’ racing board meeting was held. Board chairman Mike Hoblock said the board had spent six months investigating Eric Cherry’s agreement to buy Vernon, but had only a week or so to check on Scott’s bid and his background. The board’s deputy director of audits and investi-gations reported yesterday that during that brief time he found “regulatory compliance issues” involving Scott in other states. In response, Scott said he would relinquish any control over the Mid-State Raceway board, which operates Vernon Downs, and over Vernon president Justice Cheney, while the board was checking his own credentials. Cheney said the 15% annual interest Scott is charging for his loan was not out of line with other loans Vernon has taken out in recent years, and the Associated Press reported the track carried seven mortgages. Racing board executive director asked Cheney about Vernon’s future financial viability if it received an interim license, and Cheney replied, “I don’t have an answer for you.” Former HTA and Maryland Jockey Club executive Jim Mango, now a Mid- State Board member representing Eric Cherry, said Cherry was willing to risk his investment with other shareholders, but that Scott had little personal risk if the track fails. Also representing Cherry yesterday was Morty Finder, a longtime figure in the sport, who said Mid-State’s action raised “an aroma of double-dealing” that might require court action. Racing board chairman Hoblock said the board would consider the application again today. April 3, 2002 NEXT WORD FROM BUFFY Taking a light touch, this is how the Lexington Herald-Leader’s Janet Patton sized up the struggle for VLTs for tracks in Kentucky today, under a headline reading, “Slots bill is dead, or maybe it isn’t. Patton is noncommittal.” Ms. Patton’s story read, “The slots bill is dead....unless it gets sucked into the budget freefor-all. Otherwise, the slots bill is dead.....unless the budget bickering blossoms into a special legislative session. But otherwise, the slots bill really is dead....unless the governor calls a special session just for slots. For now, until we hear from Buffy the Vampire Slayer, the slots bill is slumbering in a dead-end committee with a Senate stake in its mechanical-fruit heart.......An April Fool’s Day joke pretended to spring the controversial bill for a vote, but later on Monday night, House Bill 768 was quietly buried in the Appropriations and Revenue committee.” Proponents, including the House bill’s sponsor, Rep. Jim Callahan, the Majority Caucus chairman, promised they would be back. Callahan said if there were no agreement on the state budget and a special session is called, he will ask Gov. Paul Patton to consider putting slots on the table. Patton was non-committal about doing so if he calls a special session on the budget, saying, “Slots have not been our agenda, and we never proposed a budget based on slots.” And if that were not negative enough, House Speaker pro tem Larry Clark, a strong supporter of the bill, said, “I think it’s probably at the funeral home right now.” In Arizona, Gov. Jane Hull said the state’s horse and dog tracks were lying and distorting facts on her plan to continue Indian casino operations. She told legislators tracks were “playing fast and loose with the truth” in radio and newspaper ads they ran opposing her plan.
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April - Harness Tracks of America, Inc.

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