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, EditorFriday, November 12, 2010STRONACH SAGA MOVES ONThe chapters keep unfolding in the ongoingsaga of Frank Stronach, as the Canadianfirebrand expands his titles from chiefexecutive officer of MI Developments tochairman as well. His new post was announcedwith the departure of DennisMills from that job, although Mills willremain as vice chairman and a director.With the announcement came news thatMID’s third quarter net income was $8.1million, down from $35 million a year ago.The plunge reflected a $23.2 million lossfrom racing related operations, offset bynet income of $31.3 million in real estatetransactions.Third quarter earnings are not in yetfrom Macau, but the unquestioned leaderthere is the Las Vegas Sands, soon to beSands International or Sands Resorts International.Its figures have helped spurMacau’s growth toward an expected $22billion for this year, compared to the entireU.S. gaming revenue of $15 billionlast year. One company alone -- MelcoCrown Entertainment, a NASDAQ enterprise,could reach $2.8 billion, up $600million from last year on sales increasesof 165.8% at its three Macau facilities accordingto seekingalpha.com. While AtlanticCity revenues are down 8.7% from lastyear, MGM’s Grand Macau operation isup by $40 million from an $8 million 2009loss. China will open a new borderentry in February allowing 500,000Macau visitors a day.Nine of Atlantic City’s 11 casinos showeddeclines in revenues last month, with totalrevenues for 2010 to date down 12.3%from a year ago. Trump EntertainmentResorts, which suffered a 17.8% revenuedrop last month from a year ago, got anew CEO last week with Robert Griffin,former president and CEO of MTRGaming Group, owner of Scioto Downs,taking over from Mark Juliano. Trumpannounced it had laid off 50 managersand that other job holders would followin coming weeks. Gambling revenue wasup 2.8% on the Las Vegas strip in September,the first time in three years thatNevada casinos have shown two straightincreases in monthly revenue.Not everyone is chasing gambling licenses,however. Maryland has failed for a secondtime to attract any takers on a slots siteavailable at Rocky Gap in western Maryland,despite boosting revenue retentionthere to 35.5% while four other sites inthe state get only 33%. A downtown Baltimoresite with 3,750 slots is likely to berebid in the near future, according to theWashington Post.NEW SULKY ON THE SCENEGaylord Boutilier, a Maine inventor withharness racing and computer betting experiencehas obtained a U.S. patent ona new sulky he says will provide greatertracking by the horse without side-tosidesway.