Magna to buy Lone Star

[ranchwest]

Magna and Lone Star (http://www.lonestarpark.com/press/pr_item.asp?iPRID=1658)

[karlskorner]

Ranchwest

Frank Stronch & Magna have "grand" plans for the racing industry and horse racing as we know it, is only a small part of the overall picture.

Perfect example in todays Miami Herald the 1/4 page ad for GP features John Kay & Steppenwolf and tomorrow Christopher Cross (a couple of yodelers) and "yes" we also have some HORSE RACING, GP is now k/a Gulfstream Park "The entertainment Center"

I have seen the future plans for GP and it is mind boggeling, horse racing will be an "incidental part" of the overall project. I am quite sure he has this in mind for SA and other tracks he is acquiring. There is no doubt in my mind that the end focus is on "slots" (where the real money is) as per Beyer's column.

Karl

[karlskorner]

According to Bloodhorse, Mr. Stronch is now going to use "other peoples" money to further his project.

http://news.bloodhorse.com/viewstory.asp?id=8473

And so it goes.

Karl

[at the wire]

yea it is sad this man is ruining the racing industry, gp so far this yr has lost over 50million in revenue from simulcasting and the fields in racing are getting smaller and smaller, fillled with 4 or 5 maiden races per day. at first when this guy began aquiring tracks i fig it would be great for the industry being he an owner and all, some how we need to get a msg to this guy via the media to tell frank to put the R back in racing.

[Observer]

Seems to me, Stronach is building his own little network .. or should I say his own empire of simulcasts. My concern is how quickly and how far he is branching out .. heaven help us if his empire comes crashing down.

I have heard the stories about Stronach wanting to make his race tracks into entertainment facilities. It's not totally a bad idea, I just think his intentions are too extreme. Maybe Atlantic City isn't the best example, but all the excess entertainment there didn't help the track.

Can anyone imagine the impact Stronach could have on NY racing if allowed to actually acquire NYC-OTB, especially with the NYRA franchise coming up for renewal in 2007? I would think if they allow the NYC-OTB deal to go through, it would only open the door wider for him to get into acquiring NYRA. That would be a HUGE mistake for the state, as NYRA is a not-for-profit organization.

How many more tracks is it going to take before this is viewed as a monopoly? Or does it not matter in the racing game?

[ranchwest]

Karl,

Yes, I don't much care for most of Stronach's ideas and I know he is intending to monopolize the industry, but this Steppenwolf thing, now that sounds like a good idea to me. :)

<get your motor runnin'...>

[rrbauer]

Stonach? Big plans?

He has no plans. He's winging it.

What he has is a big ego and deep pockets--soon to be made deeper by a $200 mil MEP stock offering.

Guess TVG will have to make some changes to their April program guide!

[karlskorner]

rrbauer

It's the "big ego's" that built deep pockets, every monetary story I have ever read or heard about a "big ego" was envolved. He didn't build that empire by being a "nice" guy. Interesting story about Bill Gates in todays Miami Herald. I really think I would stop going to the track if I had all that money, better yet, I think I would buy a track. Free parking, free admission, free food and drinks, cut the "take" to zero and if you didn't win, you gets your
money back.

at the wire;

Actually it"s $64m down in 56 days. Some look at this as the half empty glass, Mr. Stronch see's it as half full. They are still doing X million a day.

To add to GP's problems NYRA racing sec. sent out stall applicatons recently to many trainers stabled on GP backside. In the letter he stated he expected trainers to have "70%" of their horses in NY by 4/1. IF THEY EXPECTED TO KEEP THEIR STALLS. If the threat holds up, you can expect to see the horse vans leaving S. Fla. Some will head to NY and others to Keenland, which offers $650,000. a day in purse money. Keenlad opens 4/1

The last 23 days of the GP meet may set a new record in short fields

And so it goes

Karl.

[rrbauer]

Keeneland opens April 5.

Spring meet opens 1st Friday in April.

Fall meet opens 1st Friday in October.

[smf]

I heard someone mention on a radio program this weekend that of all the Magna purchases, none has an improved on-track product that he knew of. I m/b mistaken, but I think Lauletta said this on '30 MTP' friday nite.

One thing that was mentioned was the NO CAL horse that had to needlessly wait awhile to be euthenized b/c of in-op track equiptment (was fined for this) , and he gave other examples as well. I know on Roger Stein's show, Stein harps on Stronach's unfulfilled promises for the backstretch.

I think our local writer is correct in that few if any changes w/ come about here. It's already a 'Chuck E Cheese at The Races' in Grand Prarie. Lot of loud music, entertainment and the sort.