2005 - Harness Tracks of America, Inc.

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HARNESS TRACKS OF AMERICAExecutive NewsletterA daily fax and e-mail report on racing and gaming developments in North America and beyondStanley F. Bergstein, Editor March 16, 2005XANADU OR XANADONT? LICENSE AUCTION IN OHIO?Xanadu at the Meadowlands, a $1.3 billion Details are hazy, but it appears that state legislatorsin Ohio are considering auctioning off sevenproject, could begin construction by the end ofthis week. Or it could not, winding up instead in “traditional gambling” licenses for $50 millioncourt. Mills Corporation and Mack-Cali, the each to “development corporations.” Preciselycompanies developing the huge entertainment what that means is uncertain, but one legislatorand business complex, say they are awaiting only defined “traditional gambling” as slot machineswetlands-related permits from the U.S. Army and table games. He did not mention racetracks,Corps of Engineers, expected today, to start work. but said under the likely proposal voters wouldThe permits are the last in a long list that have decide whether or not they wanted “traditionaltaken the developers a year to obtain, but two gambling” in their communities. “The frameworkrests on the people who vote,” Rep. Chrispossible court actions could upset the scheduledstart of construction. Hartz Mountain Industries, Redfern said. “It won’t be going into places it’swhich has battled Mills and Mack-Cali for two not wanted.”years, still is threatening to exercise “a lot of legalremedies out there,” and the New York Giantsare unhappy too and may go to court if constructionbegins before a dispute over parking,traffic and other concerns are resolved. CarlGoldberg, the chairman of the New Jersey Sportsand Exposition Authority, says that constructionand the Giants negotiations on a new $750 millionstadium are unrelated, and he says the Giants“do not have the right to approve or notapprove the start of construction.”HOLLYWOOD OR HOLLYWONT?The rumors are flying again, that ChurchillDowns is planning to sell Hollywood Park to developersand end racing at the Inglewood track.Matt Hegarty, writing in Daily Racing Form, saidthere is “wide speculation among industry officials”that the track’s days may be numbered,and that Churchill could move its dates either toSanta Anita or Los Alamitos. Hegarty quotedDrew Couto, president of the ThoroughbredOwners of California, as saying “I think everyoneunderstands that Churchill is not going tobe at Hollywood much longer.” Churchill boughtthe track and its 240 acres in 1999 for $140million, and it is estimated to be worthbetween $250 million and $300 milliontoday.VOTERS GET CALL IN PA, TOOLegislative proposals in Pennsylvania also wouldgive voters a voice, not in slots but in slots revenue.The plan is to let voters decide if theirschool districts should participate in Act 72, astate plan to reduce local property taxes. Schooldistricts, under the proposal, could decide to useslot machine revenues to reduce property taxes.The school boards have until May 30 to decidewhether to opt in to the plan. A survey of half ofPennsylvania’s 501 school districts showed a thirdin favor of participating, a third opposed, and athird undecided. The legislator who introducedthe proposed law, state senator Lisa Boscola, saysshe thinks once accurate information is publicized,most school boards will opt in.MAGNA STILL A GO IN DETROITThe development director of Romulus, Michigan,says it is his impression after speaking with MagnaEntertainment real estate officials that Magna,despite its problems, still wants to breakground on its $350 million Michigan Downsproject in the spring of 2006. The track wouldbe a multi-purpose racing and entertainmentcomplex located near Detroit’s MetropolitanAirport.
HARNESS TRACKS OF AMERICAExecutive NewsletterA daily fax and e-mail report on racing and gaming developments in North America and beyondPaul J. Estok, Editor March 17, 2005ROCK’S CALLAHAN WINS AWARDRockingham Park Vice President and GeneralManager Ed Callahan was honored by the GreaterSalem, New Hampshire, community today withthe Chief John P. Ganley Community ServiceAward. At the 16th annual St. Patrick’s Day MemorialAward Luncheon, which was attended byNew Hampshire Gov. John Lynch, Callahan wasrecognized for “his involvement and leadership inthe community of Salem while providing inspirationto others through his dedication, integrity andcourage.”In other news from the Granite State, once again,lawmakers are considering a proposal to allow slotmachines in New Hampshire. Calling it an economicrecovery bill, Manchester Sen. LouD’Allesandro has backed legislation to add videoslot machines at Rockingham Park, at three dogtracks, and at two other locations. According toD’Allesandro, if legislators had approved a similarplan several years ago, the machines wouldhave generated $1.2 billion for the state by now.D’Allesandro said his bill also would add an estimated2,100 jobs, raise money for municipalities,and help sustain the struggling pari-mutuel industry.“The positives outweigh the negatives,”D’Allesandro told the State Senate’s Ways andMeans Committee on Wednesday. Committeemembers apparently agreed, voting the bill outby a 3-1 margin; the legislation now heads to thefull senate.DELAY IN DALEY PROCEEDINGTrainer Noel Daley, arrested on March 2 by theNew Jersey State Police and charged with illegalpossession of prescription drugs, has had his dayin court changed. Daley was scheduled to appearin a Chesterfield Township (NJ) court today, butthe proceeding was postponed until April 6. Thecharges against Daley came as a result ofa search of his stable at Magical AcresFarm in Chesterfield.ANOTHER WYNN L.V. PROJECTWith only six weeks to go before unveiling the $2.7billion Wynn Las Vegas resort and casino, SteveWynn is planning another megaresort, this onewith an estimated cost of $1.4 billion, on the formerDesert Inn property, according to a filing madethis week with the Securities and Exchange Commission.The project, referred to as “Encore,” willinclude 2,000 luxury suites, restaurants, conventionand meeting space, retail space, a spa salon,and entertainment venues. In an interview withthe Wall Street Journal, Steve Wynn said he isdesigning Encore to surpass Bellagio, built byWynn in 1998, as the most luxurious hotel on theStrip. Each Encore suite will be 1,030 square feet,with 230-square foot bathrooms. Construction isexpected to begin on Encore this summer, withcompletion planned for sometime in 2008. WynnLas Vegas, the Strip’s first new resort in five years,will open with 2,716 rooms and suites, 111,000square feet of casino space, 18 restaurants, about223,000 square feet of meeting space, and an onsiteFerrari and Maserati dealership.AR GOV. TO LET BILL BECOME LAWA bill that allows a local vote on electronic gamblingin two Arkansas counties, Garland andCrittenden, will become law without Gov. MikeHuckabee’s signature. The governor said Wednesday,however, that he will encourage residents inthose counties to vote down initiatives to expandgambling at Oaklawn Park in Hot Springs andSouthland Greyhound Park in West Memphis.The bill, which becomes law five days after passage,allows either the city or county where thefacility is located to hold the election. The measurewould not allow games of pure chance, suchas slot machines, but only games in which someskill and study is involved. Bill supporters estimatethe measure could create an additional $1billion a year in betting. One thing the bill didnot do was create a regulatory body to overseethe games.
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2005 - Harness Tracks of America, Inc.

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