HARNESS TRACKS OF AMERICA Executive Newsletter

HARNESS TRACKS OF AMERICAExecutive NewsletterA daily fax and e-mail report on racing and gaming developments in North America and beyondStanley F. Bergstein, EditorThursday, August 12, 2010SILVER SIGNS, GENTING INThe last link in the chain of command inNew York, Assembly Speaker SheldonSilver, said yes yesterday to approval ofMalaysian gaming giant Genting’s bidto build the Aqueduct racino. That sealsthe deal, except for what should be routineapproval of state agencies involvedwith formalizing the 30-year contract, theattorney general and state comptroller.Once those matters are resolved, Gentingcan start building the project, nine yearsin the making, and the company says itwill have a temporary facility, with 1,500of its 4,500 slots, up and running in sixmonths. Estimates are in the $65 millionrange for annual financial gain for the beleagueredNew York Racing Association.New Jersey racing interests can only sitand watch enviously, as its Atlantic Citycasino industry refuses, with backingfrom the state, to relax its grip barringslots at that state’s tracks, including theMeadowlands and Freehold.CENTAUR TO SELL PA. LICENSECentaur, the Indiana owner of HTA memberHoosier Park, has announced it is givingup on its Valley View Downs project inwestern Pennsylvania, and hopes to sell thesite and its harness racing license at auction.Failure in a two-year fight to obtainfinancing for the $450 million track andracino led to the decision, along with aSept. 5 expiration of its license.Centaur is seeking an extension.Centaur obtained the harness licenseafter it had struck a deal with CarmenSchick, who owned the 250-acre site andalso sought a license but was denied oneby the harness racing commission. Beforeit could gain approval of the stategaming and control board for the racino,Centaur lost its $995 million financialbacking from Credit Suisse Bank, and hasnot been able to replace it following thecollapse of the credit markets two yearsago. Pennsylvania racing law reportedlyallows transfer of the harness racing licenseto a new owner should the propertybe sold. Centaur hinted it might hold anequity interest in Valley View Downs afterthe property is sold at auction.SIGNS OF LIFE AT ROSECROFTNBC Washington reports this morningthat Rosecroft Raceway, closed since July1, has stirred interest in several potentialowners, and Cloverleaf Enterprises CEOKelley Rogers is “very optimistic aboutthe things that are happening, about theprogress we’re making, and we’re hopefulwe’ll have a good and favorable resultfor everyone.”AT OTHER HTA TRACKS....Harrington Raceway will offer its first Saturdaynight card in 10 years this week aspart of the USTA’s Back to the Track celebration....FreeholdRaceway, the nation’soldest pari-mutuel track, gets its summerfallmeet underway today, racing Wednesdaythru Saturday afternoons.