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, December 24, 2010FRANK LEAVES, STOCK SOARSWith the announcement that FrankStronach was trading control of MI Developmentsfor major racing assets includingGulfstream Park, Santa Anita,Golden Gate Fields, Portland Meadows,50% interest in the Maryland JockeyClub, AmTote, XpressBet, half interestin HRTV, and $20 million cash in workingcapital, MID stock soared 45.6% toC$28.12. Volume was low as MID said aspecial committee would review and evaluatethe proposal and give investors moreinformation “in due course.” Shares rose$8.63 to $27.69 at closing Wednesday.In another Stronach family development,Frank’s daughter Belinda announced herresignation from the board of Magna International.NY TRACKS, OTBS TO STREAMNew York tracks and OTBs have beengiven clearance by the state racing andwagering board to videostream races,starting immediately. With the new abilityto see races they are betting on, NewYork players are expected to welcome thedevelopment in telephone and Internetbetting. Daily Racing Form reported thatconsent of all OTBs and tracks broughtapproval, and wagering board presidentJohn Sabini said, “We’re very pleasedthat the major financial stakeholders inNew York racing have come togetheracting in their common best interests.”DON’T SHIP THERE JUST YETIf you were planning on shipping to Syracuse,NY, for a proposed new $100 millionfive-eighth mile harness track, betterhold your horses. For a few years. MajorRochester builder Tom Wilmot Sr., onceowner of Freehold Raceway, told Syracuse.comyesterday that his proposal tobuild a new Westin hotel in downtownSyracuse was tied to his plans for his proposedSyracuse Raceway, and he does notforesee building one without the other.The county executive of Syracuse’s Onondagacounty, Joanie Mahoney, says sheprefers a $60 million renovation of theshuttered old Syracuse hotel by BerkleyAcquisitions to Wilmot’s Westin proposal,indicating delay in the project. She saidif the Berkley group accepts an offer nextweek for $15 million in state grant moneyand $10 million in low cost financing bythe county and Syracuse, with Berkley repayingthe bonds but not the state grant,a refurbished Hotel Syracuse could openby January of 2012. Wilmot also indicateda proposed deal with Jeff Gural forVernon Downs to operate his new track“for a substantial payment” was off, andhe would seek his own license instead.A HEAVY HEART FOR XMASChristmas has been darkened by the deathof Michigan’s greatest harness horseman,Bob Huff, of cancer at 90, More on goodfriend Bob on Monday. Our best wishesto you and yours for a bright andshiny holiday.