2005 - Harness Tracks of America, Inc.

HARNESS TRACKS OF AMERICAExecutive NewsletterA daily fax and e-mail report on racing and gaming developments in North America and beyondStanley F. Bergstein, EditorCREDITORS GET THEIR SAYSome 1,000 creditors and stockholders of VernonDowns get their say next week, when they willvote on the proposals of Jeff Gural of New Yorkand Eric Spector of California as to who gets tooperate the shuttered track. They have until Oct.31 to express their preference on the plans, andprobably will need most of that time to digest the300 pages of information that the document theyreceive will contain. After the creditors andshareholders vote, federal bankruptcy judgeStephen Gerling will rule on the winner at a Dec.16 hearing. Although Gural has been the drivingforce in working for new ownership, it turns outhe will be a minority partner if his group wins,with a 25% share to the 50% share that would beheld by Nevada Gold, a Texas outfit that operatesgambling facilities. The remaining 25%would be held by TrackPower, a Canadian-ownedcompany that has dabbled in a number of bids forracing roles. Although the two proposals are similarin a number of respects, and both were approvedto go forward by Gerling, the Gural planguarantees creditors at least 90% of their claims,while the Spector bid does not.YOU CAN BE DUMB AND DRIVEIt takes skill and courage and timing and coordinationto drive harness horses, but it does not necessarilyrequire brains. A case in point is that ofdriver Todd M. Kolbe, who walked up to aparimutuel clerk stationed in the paddock ofPlainridge Racecourse before the seventh race onAug. 30 and bet $18 against his own horse, favoritein the race, and then finished fifth. Track presidentGary Piontkowski, on hearing of the bets,marched to the paddock and ejected Kolbe fromthe track. The Massachusetts racing commission,which Piontkowski once headed, was not quitea sdecisive. It suspended Kolbe for 90 daysand fined him $250 for “an unsatisfactorydrive.”September 19, 2005Asked by Boston Globe reporter Bob Hohler ifthat penalty was severe enough, acting state racingcommissioner Jack Magee said doing morewould have been “a little premature” because thejudges hadn’t even signed their decision. Mageeclaimed the commission “took this seriously,” butobviously not seriously enough for Piontkowski,who said, “Whether the racing commission suspendshim for 90 days or 900 days, we threw himout and we won’t let him come back.”SARATOGA’S BIGGEST NIGHTQuality pays handsome dividends in racing, andif you need to confirm that you can ask SkipCarlson, who runs Saratoga Gaming andRaceway’s racing operations. He calledSaturday’s “Night of Champions,” which featuredeight $150,000 New York Sire Stakes, “a fantasticnight. The energy and enthusiasm that wasgenerated was tremendous for the horsemen,owners and personnel at the track. It shows ifyou have great horses and great racing, the fanswill come out.” Carlson said many in the crowdof more than 4,000 -- Saratoga’s biggest in recentmemory -- told him how excited they were tobe back, and Carlson says that excitement validatedthat the mix between racing and gamingworks well at Saratoga. He said many of the patronsstayed in Saratoga Springs overnight, enjoyedthe gaming, and took in what Saratoga hasto offer. Five track records were set or equaled,and four of the races featured times that werethe fastest in the 16-year history of “Night ofChampions,” which previously were raced at YonkersRaceway, now being reconfigured as aracino. Carlson hopes to host the event again.He thinks the excitement and quality of the nightwill inspire new owners to enter the sport, and hepredicts the $9 million in purses for New Yorkbredtrotters and pacers will double over the nexttwo years, when slots at Yonkers should beunderway.