Racing Press Depresses Smith Stock

[Indulto]

Unanimity among the Big Three editors is rare. The only other occurance I noted was when they all weighed in against Grade I handicaps prior to a Graded Stakes Committee meeting. But “Little Timmy” is now squarely in their sights. Maybe "The Tiger" can swing some support for him in the “rough.”


Credibility Gap by Ray Paulick
http://opinions.bloodhorse.com/viewstory.asp?id=32762 (http://opinions.bloodhorse.com/viewstory.asp?id=32762)

“. . . Mid-Atlantic membership revolt in 2001 that eventually led to the NTRA's decision not to establish a betting hub in Oregon that would attempt to serve as the industry's account wagering solution. The decision not only limited the NTRA's ability to sustain itself financially, it created a chaotic account wagering environment that forces some fans to hold more than one account to bet on their favorite tracks. The view here is that the decision to abandon a wagering hub was Smith's biggest error as commissioner.”


Friends of New York slots by Mark Simon
http://www.thoroughbredtimes.com/commentary/commentary.asp#viewpoints (http://www.thoroughbredtimes.com/commentary/commentary.asp#viewpoints)

“And Smith, the first commissioner of the NTRA who was given the responsibility of marketing Thoroughbred racing to increase the sport's fan base, presumably now thinks the future of the sport depends on VLTs.”


Wary of new New York player By STEVEN CRIST
http://www.drf.com/drfNewsArticle.do?NID=72734&subs=0&arc=1 (http://www.drf.com/drfNewsArticle.do?NID=72734&subs=0&arc=1)

“Friends of New York Racing, the think-tank and advocacy group headed by Tim Smith and funded by a variety of national racing interests, concluded its mission and existence this week with its release of proposed new racing legislation.

. . . Things became somewhat disquieting, though, when the official wind-down of Friends of New York Racing was followed almost immediately by the announcement that a new entity, including several members of Friends of New York Racing's "Business Advisory Council," has been formed to bid for the franchise.”


Friends official has ties to Empire By MATT HEGARTY
http://www.drf.com/drfNewsArticle.do?NID=72900&subs=0&arc=1

‘Smith said that he is not an investor in the group, but he also said that he is not barred from becoming an investor in the future.

NYRA chief executive Charles Hayward said that Smith's involvement with Empire raised questions about the purpose of Friends, an advocacy group whose business model for New York racing was adopted nearly in total by Empire. When Friends was formed late in 2004 with money from a variety of racing groups, Friends pledged to remain "bidder-neutral."’

[the little guy]

Hallelujah!

[Indulto]

Originally posted by thelittleguy:

Hallelujah!tlg,
You never struck me as the religious type. :D

[the little guy]

Well, seeing a certain friend of mine joining the voices of dissent against Smith brought me close to religion.

[Indulto]

Here we go again.

Smith's ties to Empire Racing called out by NYRA by Paul Post
http://www.thoroughbredtimes.com/todaysnews/newsview.asp?recno=65468&subsec=1 (http://www.thoroughbredtimes.com/todaysnews/newsview.asp?recno=65468&subsec=1)

'... And last week, Empire announced that it was partnering with Toronto-based Woodbine Entertainment Group, which Smith had touted as the preferred model for New York racing to emulate. Smith, however, said he is backing Empire because he simply believes it is the organization best able to keep racing at the forefront, while conducting successful video lottery terminal operations at Aqueduct and possibly Belmont. Smith said he is neither an Empire board member nor a consultant. Smith said he has no interest in leading New York's racing program if Empire secures the franchise. "No, no chance," he said. "My active service in the racing industry is in the past. I tell people I'm a small investor and I'm a cheerleader."'



Smith says he made investment in Empire By MATT HEGARTY
http://www.drf.com/news/article/77053.html (http://www.drf.com/news/article/77053.html)

'... "I'm quite confident in my mind that the work of Friends of New York and the work of Empire were two separate things," Smith said. "I evaluated who I thought would be best, who would be most likely to implement the recommendations we came up with, and my wife and I made a modest investment and so are very limited partners in this effort." '

[ELA]

Personally I think the handwriting was on the wall, and in some cases in pretty big letters, for a long time. I was surprised that the NYTHA threw their support behind any player so early in the game. Interesting that an NYTHA Board member, Gary Contessa, has "broken rank" so to speak and joined Excelsior. Bomze then calls for his resignation.

From the inception of FONYR up until today, it was pretty obvious that Smith would "land" with one of the players. I think Empire getting Delaware North and Woodbine behind them raised a few eyebrows -- especially Woodbine. It adds a bit of the "non-profit" flair to the mix.

With regard to Charlie Hayward -- he is a very sharp guy, and I think he has made the best out of a very bad situation.

Eric