Jerry Baily in on takeover of NYRA

[karlskorner]

http://news.bloodhorse.com/viewstory.asp?id=34645

[Suff]

http://news.bloodhorse.com/viewstory.asp?id=34645


Bailey will participate in the "Seekers of the Franchise" panel Tuesday at the Saratoga Institute on Racing and Wagering Law at 9 a.m.


Wonder if this is being webcast?

[CryingForTheHorses]

This looks to be very interesting on who will outbid who..correct me if I am wrong..Will this NYRA be sold to the highest bidder?..Woodbine Entertainment group also bidding?..J Bailey brings a lot to the format in his knowledge of horseracing and Woodbine guys run a class act..

[the little guy]

Wonder if this is being webcast?

I don't think so but I can find out tonight and try to let you know. I will probably head over for at least some of it.

[PaceAdvantage]

Will this NYRA be sold to the highest bidder.

One way or another.....

[ELA]

The interesting thing here is that Woodbine has "signed on" with Empire. That nakes Woodbine the second player (who had already identified themselves as a bidder -- 1 of the 16) to join with Empire. The first being Delware North. Woodbine will basically be consulting Empire on various matters, and they have received an "equity" stake in Empire.

The dynamic here is interesting as well. Delware North is a major ractrack/VLT operation (Finger Lakes, amongst others). Now, Woodbine comes into the picture. The very interesting part is that the Woodbine model is based upon a "non-profit" partnering with the government. More interesting is that Woodbine not noly operates two racetracks with VLT's, but they also incorporated their ownership of about 25-30 OTB operations and an internet-based wagering operation. See where this is going now?

I know when NYRA first started in their pursuit of VLT's, the Woodbine "model" was well liked and appealed to NYRA. Woodbine has apparently successfully partnered with the government and has been able to massively increase purses (I am not sure of the actual %), renovate tracks, and own OTB's and an internet wagering operation -- all of this, and while appearing to thrive. I say "appearing" as I don't know the actual details and specifics, however, industry sources claim they are "thriving"

This could be a major marriage here.

Eric

[kenwoodallpromos]

How many of the 16 groups would be bidding if the tracks were not getting slots?

[Suff]

I don't think so but I can find out tonight and try to let you know. I will probably head over for at least some of it.

I could'nt find anything other than this Brochure mailer that went out Postal.

I'd be curious if you went, if you could give us one or two things that may not make the papers. Things that a player, with a rooting interest in New york racing might find interesting. Thanks

http://webserv.als.edu/www/media/user/GLC-2006_saratoga_institute_brochure.qxd.pdf

[karlskorner]

From the Times Union

Jared Abbruzzese (Empire Racing Assoc.) paid for plane flights for Senate Majority Leader Joseph Bruno ( and others ) and some catering at Kentucky

From the Daily News

Eliot Spitzer took over $200K from companies bidding on NYRA takeover.

Full stories at www.equidaly.com, middle column about 10-12 down

While there read Jay Cronley's article on "win" betting, just above these 2 stories

[Tom]

Karl, sounds more like It ain't over 'til the checks clear!
Ah, NYS - home of the honest politicians!

[the little guy]

I just got back from one of the panel discussions...the one focusing on the bidding for the franchise. Unfortunately I had the times wrong and missed both Steve Duncker's ( from NYRA ) speech and whatever presentation Bailey delivered. What I did hear was a lot of nothing, to be honest, save for Steve Crist's refreshing speech. Basically Steve said this entire current process could well be a substantial waste of time because AT BEST it will have to be repeated next year as there is next to no chance anything will happen of substance before a new Governor is in office. He also warned people to be severly concerned about the fact that these same current bidders, save NYRA, were nowhere to be found when the franchise was up for renewal over the past 30 plus years, and obviously the only reason for their sudden emergence, en masse, was the introduction of slot money. Steve's point being, of course, it is of the utmost importance to be absolutely certain any potential bidder genuinely wants to run racing an not just get their hands on the proverbial golden goose.

Time to go to the pool.

[karlskorner]

And this is just the tip of the iceberg. Smells so bad, even reached the land of milk and honey. It was this way when I left NY State 30 years ago, when certain interest "demanded" monies from my business ventures.

[kenwoodallpromos]

I just got back from one of the panel discussions...the one focusing on the bidding for the franchise. Unfortunately I had the times wrong and missed both Steve Duncker's ( from NYRA ) speech and whatever presentation Bailey delivered. What I did hear was a lot of nothing, to be honest, save for Steve Crist's refreshing speech. Basically Steve said this entire current process could well be a substantial waste of time because AT BEST it will have to be repeated next year as there is next to no chance anything will happen of substance before a new Governor is in office. He also warned people to be severly concerned about the fact that these same current bidders, save NYRA, were nowhere to be found when the franchise was up for renewal over the past 30 plus years, and obviously the only reason for their sudden emergence, en masse, was the introduction of slot money. Steve's point being, of course, it is of the utmost importance to be absolutely certain any potential bidder genuinely wants to run racing an not just get their hands on the proverbial golden goose.

Time to go to the pool.
_____________
Thank you for your post!
In spite of the racing industry as a whole not giving much attention or thanks to the bettors when pools and purses go up, they sure seem to want someone's gambling $$$!

[the little guy]

Apparantly what I missed was Jerry Bailey reading, and struggling with, a prepared speech, a representative of Empire Racing saying very little, and Steve Duncker ( from NYRA ) blowing the field out of the water.

As someone said to me " If it was a fight they would have stopped it ".

[Suff]

Bloodhorse has something up already... Ink still wet. All bailey and duncker


http://news.bloodhorse.com/viewstory.asp?id=34668


The Excelsior group, using some equine star power, turned to Hall of Fame jockey Jerry Bailey to represent it. Bailey declined to identify the group's members; so far, the only certain backers of the group include Richard Fields, a former advisor to Donald Trump, and Steve Swindal, a son-in-law of New York Yankees owner George Steinbrenner.



Not naming the principles behind the group didn't stop Bailey from proclaiming his team "can restore the state's greatness in racing.'' With NYRA's Duncker sitting on stage with him, Bailey said the Excelsior group can "replace the current system with a world class operation'' that will "set new standards'' for the nation's Thoroughbred industry. He said the group would "improve the management under which New York racing currently operates.''

. Asked after the session if he could see Excelsior and NYRA partnering, he said, "I think anything's possible.''





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With top state officials looking on, Duncker said NYRA has a "pretty good claim'' to the land at Aqueduct, Belmont, and Saratoga racetracks because it holds the deeds to the properties and has been paying taxes on the land for 50 years.

Asked afterward if he was issuing an implied threat over the land if NYRA does not win the franchise again, Duncker said, "No, but it's a big issue.'' He added, "The process is going to be hard to come to fruition if there's a question about who owns the land.'' He suggested the state and NYRA need to come to terms with the land issue. "Only we can sit down and resolve this,'' he said.

NYRA has long maintained it owns the land; state officials say NYRA gives up its rights to the properties Dec. 31, 2007, the day the current franchise expires. Duncker's land claims were strongly disputed by a member of the Ad Hoc Committee on the Future of Racing, a state panel that is conducting the bidding process. "New York state is still totally committed to proving that indeed the state owns the land,'' Bernandette Castro, who also serves as commissioner of the state parks system, said after hearing Duncker speak. "It's not about who says they own it now. It's who owns it at the end of the franchise,'' she added