HARNESS TRACKS OF AMERICA Executive Newsletter

HARNESS TRACKS OF AMERICAOCEAN DATES TO ROSECROFT?In a Maryland Racing Commission meeting yesterdayin which only harness racing foe JohnFranzone dissented, the commission approved,5-1, extending Rosecroft Raceway’s operating licensethrough July 1. Sharon Roberts, executivedirector of the track’s horsemen-owned parent,Cloverleaf Standardbred Owners Association,issued a joyful release headed “We live to fightanother day.” The commission decision cameafter former and hopefully future owner MarkVogel pledged another $350,000, and Cloverleafadded $150,000, to assure the commission thetrack could operate until the first of July. Theloans are subject to approval by a bankruptcyjudge, who earlier disallowed a Vogel offer to buythe track. Cloverleaf president Kelly Rogers, intelling commissioners Vogel still was pursuingpurchase of Rosecroft, also said that if the trackcould reach an agreement with Ocean Downsowner William Rickman Jr., it hoped to runOcean Downs’ 2010 dates at Rosecroft. Cloverleaf’sattempt in the legislature to get poker diedwhen, after the Senate approved, the GeneralAssembly session ended Monday night withoutthe House taking action. Commissioner Franzone,in voting no to the July 1 extension, claimedthe request was “not about harness racing, butabout an entity that’s trying to get extendedgaming.” His comments completely ignored theeconomic contributions of the track to the localand state economy, and the welfare of employeesand horsemen whose livelihoods depend on thecontinuation of racing at Rosecroft. Cloverleaf,which also had sought a separate harness racingcommission, which Maryland does not have, employsmore than 200. Cloverleaf’s accountant,Street Baldwin, was questioned about financesfor more than an hour, and president Rogerssaid Cloverleaf had spent some $900,000in legal fees defending itself against theMaryland Jockey Club and others.Executive NewsletterA daily fax and e-mail report on racing and gaming developments in North America and beyondStanley F. Bergstein, EditorWednesday, April 14, 2010In an ironic twist, the Jockey Club is now runby Tom Chuckas, the former president of Rosecroft.The thoroughbreds were successful in gettingtransmission of their signals to Rosecroftstopped last April, a move that Cloverleaf accountantStreet Baldwin said had a “severe impact”on Rosecroft, which had continued to takeharness and quarter-horse simulcast bets thatwould have ended today without the extension.IN OTHER NEWS.....Massachusetts House Speaker ROBERT DELEOopened the third day of debate on his slots-attracksbill today, seemingly assured of passagewith a veto-proof vote....NEW YORK REPUB-LICAN LEGISLATORS floated an alternativeplan for the Aqueduct racino project, callingfor the state controller to recommend one of the“big 4” accounting firms to vet bidders for theracino....GOV. DAVID PATERSON, meanwhile,was to offer legislation today to bail out NewYork City OTB. The plan reportedly calls for a15% reduction in OTB payments to tracks, shuttinga number of facilities, and cutting OTB’sstaff and payroll by 50%....Former HTA directorJOE LASHINGER JR., the man largely responsiblefor the creation of Chester Casino andRacetrack, has resurfaced, this time with PennNational Gaming providing financing for a resorthotel-casino near the Gettysburg nationalbattleground. The operation would be known asMason-Dixon Resort and Casino, would developa 300-room hotel, and host up to 600 slots andup to 50 table games and a 20,000-square-footconvention center....After HARRAH’S ENTER-TAINMENT announced it planned to issue $500million in second priority secured loans due in2018, Moody’s Investors Service posted a “negative”rating toward Harrah’s long-term debt,saying declines in gaming play “will negativelyimpact the company’s operating performancein 2010.” Harrah’s has total debt of some$20 billion, Las Vegas sources say.