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, Editor March 28, 2005HARNESS FIGURES IN NY FRAY APRIL 1? YOU’RE FOOLING USTwo major harness racing figures -- owners Jeff Leaders of both the New York Assembly and Senatehave announced they will have a budget forGural and Adam Victor -- are playing importantroles in a current struggle between the New York 2005 passed by April 1. Unless you are a NewJets, Cablevision and TransGas Energy Systems Yorker, the significance of this may be lost onfor the future of Manhattan’s West Side railroad you, but meeting that deadline is something thatyards. Cablevision offered $760 million for the has not been accomplished in 21 years in theproperty, hoping to build apartment towers and great Empire state. Things do not move witha park; the Jets offered $720 million to build a the speed of light, or sound, or glacial ice, in thestadium along with commercial and residential state that prides itself as being a national leadertowers; and TransGas Energy has offered $1.05 in all things except possibly legislation.billion for the site. The Metropolitan TransportationAuthority, which will decide the issue, is Perhaps more important, it seems the legislatorsexpected to announce the winner on Thursday. have lost their awe or amorous admiration forVictor said he has been called the dark horse, their third term governor, and are at odds withbut he says he believes the dark horse has becomethe stalking horse and seems confident of They are even talking defiantly, both Senatehim on several issues as the deadline approaches.victory, although he says he has no idea what his president Joe Bruno and House speaker Sheldoncompany would do with the property if it wins Silver standing together and saying they will announcea budget next week on time. Governorthe bidding war. He called it “grossly premature”to predict what the west side river site might George Pataki took exception to that, saying, “Ilook like for the next 100 years, and said it makes have the ability, at the end of the process, to exercisemy executive powers, and I intend to dono sense for anyone to try to make that decisionin the next three weeks. He said, “We’ll let the that.” One contentious issue is Pataki’s plan topeople decide what they want,” if TransGas winds settle land claims with five Indian tribes by allowingthem to open casinos in the Catskills. Aup with the site. Victor reportedly is more interestedin the site of an active fuel depot on the bill in draft form in the Assembly would bar tribesEast River in Brooklyn than in the west side from out of state opening casinos in New Yorkrailyards. He wants to build a natural gas power state, and three of the five tribes dealing withplant there that could be connected to New York’s Pataki are located out of state, although all fivegas and steam grid. Jeff Gural entered the pictureas president of Newmark and Company,have original roots in New York.hired by the MTA as a consultant real estate firm Of paramount interest to racing is the status ofto evaluate bids on the property. Newmark is legislation that would make changes in existingurging the MTA to reject the Jets and Cablevision law that has been found unconstitutional. Theoffers as being far too low. Newmark believes changes would enable Yonkers Raceway and$300 million has been “left on the table” by the Aqueduct to begin construction of their racinos,two sports offers, and that some 6 million square which have been stalled by the present impasse.feet of prime real estate should be worth close to Bruno says he thinks the problem has been fixed,$200 a square foot, making the total propertyacreage worth more than $1 billion.tors are doing it, and says he has some res-but Pataki says he has questions how the legislaervationson the VLT solution.