Magna on a roll

[Jaguar]

Notice that Magna can force MTR to fold their cards if Pennsylvania approves Magna's plan for a new flat track near Pittsburgh.

Magna is the big Dog on the block and could, presumably, build such a showplace that MTR couldn't compete. In which case MTR would likely be compelled to sell to Magna, giving Mr. Stronach complete control of the racing market in the greater Pittsburgh area. (Not to mention the slot market, which has enormous potential).

Gotta hand it to Mr. Stronach, he knows how to take the other boys' marbles- all of them.

Observe how- when Magna executives state their goal as: "improving horse racing", they never betray even a hint of a smile. They are good actors as well as businessmen.

They should be a bit more candid and simply say: "We want more race tracks, so we can turn 'em into casinos, soon as we get the politicians to roll over".

How many Magna venues will offer horse racing, once those properties are licensed as casinos?

All the best,

Jaguar

[andicap]

I'm going to say this for argument's sake: With all simulcasting doing well, why do we need so many tracks? Look at Delaware where purses are artificially high yet none of the people who play the slots play the horses.
Are some tracks being kept open by less than "open-market means?"
Where are the conservatives on this board yelling that racing is being subsized and must sink or swim on its own?
Plus with the foal shortages in recent years, wouldn't fewer tracks help the horseplayer.
Yes, it would be terrible if some of these tracks closed and people lost jobs, but what happened to Lincoln Downs? Where's Green Mountain? Liberty Bell?
They couldn't hack it in the open market. That's called capitalism.
GM closes plants and throws thousands out of business.
Why shouldn't horse racing?

Magna's idea is the old version of just going to the track is dead. You need "entertainment centers" that attract young and old and then you try and entice them to try the horses.
That's not a bad vision.

[Zaf]

I wish these Racinos would lower the take out for the horse player. We know they can afford to do it. A 10 % takeout on WPS and 12% on exotics would be a good start. Its time they started giving something back to the racing fan.

What do others think ??


ZAFONIC

[Jaguar]

Andicap, I respect your opinion and I have no argument against a badly managed business folding up.

But, as a Conservative and a "free enterprise" guy, I have to point out that the governments of many States have gimmicked the playing field by assigning franchises to gambling interests on an unfair basis.

My home State of Connecticut is probably the most glaring example of this, where American Indians were handed the exclusive casino gambling franchise, freezing out everyone else.

America is supposed to be about fairness and a level playing field, opportunity for all.

Magna is an auto parts conglomerate, ruled by the bottom line. Horse racing isn't very profitabe- compared to Casino gambling.
So, business interests looking at existing race tracks and seeing the momentum of Casino gambling- which is eagerly being examined by new States as a potential form of revenue- will increasingly be tempted to transmogrify existing racing properties into full-blown Casinos, thus increasing the return to both the business owners- and the State Tax Collector.

So, the racing business is no longer allowed to compete on its own. Rather, the race tracks are just a venue, an existing piece of property, which can be adapted and changed into anything the new owners can get their State legislature to agree to.

Horse Racing has no protection in law, no champion to stand up in the House or the Senate in Washington and urge that a federal law be passed stating that a horse track which becomes a Racino must retain horse racing, if the entity which owns the track wants to stay in business.

I accept the harsh reality that as gambling of all types proliferates in this country, horse tracks must become Racinos.
What I don't accept, and will urge my local Congresswoman and local U.S. Senator not to permit, is that business interests be allowed to swallow up the horse tracks and close them so that the racing oval can be paved over to make more parking for slot patrons.

All the best,

Jaguar