MJC Plan Rejected; Laurel, Pimlico in Limbo [Archive] - Horse Racing Forum - PaceAdvantage.Com

PaceAdvantage

11-29-2010, 08:15 PM

MJC Plan Rejected; Laurel, Pimlico in Limbo

Thoroughbred racing in Maryland for 2011 is in limbo after the Maryland Racing Commission Nov. 29 rejected a stop-gap plan submitted by the Maryland Jockey Club and also rejected owner MI Developments’ plan to sell 49% of the MJC to Penn National Gaming Inc.

The situation threatens full-card simulcasts in Maryland in 2011 because they are tied to live racing dates and horsemen’s approval. Laurel Park is approved for live racing through the end of December.

Read the rest here: http://www.bloodhorse.com/horse-racing/articles/60123/mjc-plan-rejected-laurel-pimlico-in-limbo

11-29-2010, 11:03 PM

Maryland racing is a mess. Good riddance I say.

takeout

11-30-2010, 12:12 AM

Md. Racing Commission rejects Jockey Club plan
http://www.baltimoresun.com/business/bs-bz-jockey-club-commission-meeting-20101129,0,2067408.story?page=1

[snip]
John Franzone, a longtime commission member, said after the meeting that state officials should "seriously look" at the eminent-domain law authorizing the state to seize the tracks. In 2009, the General Assembly passed a law granting the state that authority in the wake of the bankruptcy of the Jockey Club's then owner, Magna Entertainment Corp. Such a step was considered a last-ditch option to ensure the survival of the Preakness.
[snip]

Comment: Hmm… now there’s an idea. What would happen after they seized the tracks? A real auction, maybe?

The Hawk

11-30-2010, 08:53 AM

JustRalph

11-30-2010, 09:18 AM

from the article:

"John Franzone, a longtime commission member, said after the meeting that state officials should "seriously look" at the eminent-domain law authorizing the state to seize the tracks. In 2009, the General Assembly passed a law granting the state that authority in the wake of the bankruptcy of the Jockey Club's then owner, Magna Entertainment Corp. Such a step was considered a last-ditch option to ensure the survival of the Preakness."

I think it is time to move the Preakness.

The_Knight_Sky

11-30-2010, 09:44 AM

One of many tracks in the country that needs to dramatically cut back on their dates, or die.

Do they need year-round racing in Maryland, especially with slots-fueled neighboring tracks Penn, Philly and Charles Town running virtually all year?

Exactly.
Maryland Racing is presented with an opportunity to produce a special racing product. That isn't done by barking for 140+ racing dates again.

The new slots subsidies should be used to bolster the product at both Laurel and Pimlico and strengthen the quality of the horses competing and subsequently gain the interest nationally.

These are the same people who produce the on again/off again Pimlico Special
because "the purse monies often go to out of town horsemen". Makes me wonder why they don't cancel The Preakness for the same reason.

100 dates! 50 at Laurel and 50 at Pimlico with generous owner/breeder funds
should keep everyone happy in the short term.

Tom

11-30-2010, 09:50 AM

Pimlico and Laurel were always two of my favorite tracks.
I miss those good old days.

Even wading through urine in the bottom level man's room....Pimlico was always a good trip.

PhantomOnTour

11-30-2010, 10:04 AM

Pimlico and Laurel were always two of my favorite tracks.
I miss those good old days.

Even wading through urine in the bottom level man's room....Pimlico was always a good trip.
Speaking of bathrooms at Pimlico....
I love the old time bathroom under the grandstand, complete with skinny French-door stalls. I swear it's barely wider than the toilet.

proximity

11-30-2010, 08:13 PM

they should close laurel and run spring and fall meets at pimlico with 8 race cards on fri, sat, and sun in the spring and thurs, fri, and sat in the fall. 24 races a week. if they could get colonial to close they could spread my proposed pimlico schedule out to 8 months (late march thru thanksgiving) with the slots subsidy...... with a brief break for timonium separating the meets.

andymays

12-01-2010, 09:54 AM

Stronach again fails Maryland horse racing

http://www.baltimoresun.com/business/bs-bz-hancock-tracks-commission-20101130,0,4168001.column

Bruddah

12-01-2010, 10:37 AM

First, let me say, I love Maryland racing of the old days (1980's) I lived in Richmond Va. and spent many weekends in Baltimore going to the races. Love the people and the entire Region. However, since the early 90's, Thoroughbred Racing has been allowed to slowly slide down hill. One year at a time.

This is what confuses me. If the product (racing) is so bad and Unprofitable, then why are so many factions fighting to maintain or increase racing dates. Logic tells me, the more dates, the larger the losses. Is this just a bunch of dogs fighting over scraps, or is the real truth of profits being hidden?

takeout

12-01-2010, 04:39 PM

http://www.baltimoresun.com/business/bs-bz-maryland-racing-future-20101130,0,856759,full.story

[snip]
In unanimously rejecting the truncated racing schedule at Laurel and Pimlico, the eight-member commission also rejected the joint venture between Penn National and MI Developments. Final approval of their partnership was contingent on the commission's endorsing a viable business plan for the Jockey Club.

"We did not approve Penn National's ownership, so I'm not sure if they should be playing a role at this point," commission Chairman Louis Ulman said Tuesday.

"It's a pretty strange scenario where you have an entity who doesn't want to race, who owns half of the assets, and doesn't have a license," said Richard Hoffberger, the president of the Maryland Thoroughbred Horsemen's Association, referring to Penn National. "That's a pretty big mess."
[snip]

Comment: He's exactly right, the whole thing is ridiculous. The tracks should be seized and sold, NOW.

andymays

12-02-2010, 06:16 PM

andymays

12-02-2010, 07:01 PM

http://www.bloodhorse.com/horse-racing/articles/60184/stronach-seeks-common-ground-in-maryland

Excerpt:

Reached in Austria, Stronach said, ``I don't have to prove or demonstrate I'm a horseman. It has to be done quickly. I'm going to sit with the horsemen and come up with a model. The present model is broken.''

Lasix67

12-02-2010, 07:57 PM

I wonder what will become of the Preakness if this continues?

Saratoga_Mike

12-02-2010, 07:58 PM

I wonder what will become of the Preakness if this continues?

Word is Stronach may hold it at his farm...going to bring in temporary seating and concessions...can't miss.

Tom

12-02-2010, 09:41 PM

Have Delaware Park start a new mile and three sixteenths race to be run two weeks after the Derby and name it the Second Leg. Offer a bonus to Derby starters and Belmont starters.

Beachbabe

12-02-2010, 09:43 PM

Have Delaware Park start a new mile and three sixteenths race to be run two weeks after the Derby and name it the Second Leg. Offer a bonus to Derby starters and Belmont starters.

The Dreakness

takeout

12-03-2010, 01:28 AM

Fabulous Frank will save the day!

------------------------------------------------------

Stronach to visit Maryland next week - Thoroughbred Times

http://www.thoroughbredtimes.com/national-news/2010/12/02/stronach-maryland-racing.aspx

Excerpt:

“I will come down to Maryland next week,” Stronach said Thursday from his native Austria. “We’ll try to find common ground. It has to be done quickly. We’ve got a good relationship with the horsemen; the racing commission trusts us too.”

Nice of him to drop by. I wonder if he read about this in the Form too. :rolleyes: :liar:

This guy’s credibility went in to the minus numbers a long time ago and now he has hooked up with PNG for some more OPM which makes anything he says even a bigger farce than before.

Maryland racing already has takeout and taxes that are too high but right now they’ve got a bigger and more immediate problem and if they don’t seize the tracks and get rid of these weasels then it’s on them.

andymays

12-03-2010, 11:54 AM

http://www.gazette.net/stories/12032010/poliedi194812_32533.php

Excerpt:

When examining the mess that is Maryland horse racing, one conclusion is obvious: There's enough blame to go around the track a few times.

A good place to start, of course, is with the current ownership, which must hold up the Keystone Kops as a role model. MI Developments and Penn National Gaming own the Maryland Jockey Club, which runs Laurel Park and Pimlico Race Course. This week, the Maryland Racing Commission rightly rejected a Jockey Club proposal to race 17 days at Laurel and 30 days at Pimlico in 2011. That's like operating a hot dog cart with one pack of hot dogs to sell. You'll be out of business real fast.

takeout

12-07-2010, 01:59 AM

Racing industry agrees Preakness should stay, but no deal
http://www.baltimoresun.com/business/bs-bz-horse-racing-meeting-20101206,0,4490990.story

Comment: I don’t understand all of this BS. If they have to run at least 146 days to stay viable, then either that’s what’s done or throw the bums out and find someone that actually wants to run a track. Why all of the meetings and wasted time & money and fooling around with Mr. Chapter 11 “we gotta sit down” Stronach? I don’t get it.

Robert Fischer

12-07-2010, 05:40 AM

looks like the Preakness will be at Santa Anita

CincyHorseplayer

12-07-2010, 06:18 AM

I'm ready for the Dreakness!

takeout

12-07-2010, 02:51 PM

Relwob Owner

12-07-2010, 02:57 PM

[snip]
At the end of the three-hour meeting, Penn National Gaming's Steven Snyder called it a "productive discussion with no conclusions."
[snip]
http://www.wbaltv.com/r/26044865/detail.html

Huh? How can that be?

Seems to me if Maryland wants to do something productive, track-wise, the first thing would be to get rid of the conflicts of interests, the biggest being Penn Gaming.

This whole thing is just another huge train wreck that even a blind man can see coming. Maryland racing is nowhere until they toss the current ownership out, something that should have been done long before Penn ever got into the equation.

TO,

Seems like you are all over this situation and I wanted to get your take on a few things.

1. Did Magna genuinely whiff years back when they neglected to get the slots license or do whatever they needed to do?

2. Why did Penn get involved with owning the track without knowing they would have slots on site? Penn has always seemed like a pretty savvy company and I cant imagine they bought into it without an assurance.

Thanks in advance.

Tom

12-07-2010, 03:11 PM

Correct me if I am wrong, but wasn't it that Magna couldn't come up with the cash for the slot license's?

The_Knight_Sky

12-07-2010, 03:28 PM

looks like the Preakness will be at Santa Anita

Perfect.

There's plenty of California colleges to draw the "fans" http://i54.tinypic.com/14mw56d.gif into the infield.

JustRalph

12-07-2010, 05:29 PM

Correct me if I am wrong, but wasn't it that Magna couldn't come up with the cash for the slot license's?

correct. They couldn't come up with the 28 mil for the slot license.

Then they spend a couple million trying to defeat the slots at the mall

takeout

12-07-2010, 05:34 PM

1. Did Magna genuinely whiff years back when they neglected to get the slots license or do whatever they needed to do?

2. Why did Penn get involved with owning the track without knowing they would have slots on site? Penn has always seemed like a pretty savvy company and I cant imagine they bought into it without an assurance 1 - I don’t know. I’ve been wondering about that for a long time. Just guessing but I think they probably whiffed on purpose. They may have been broke as well, but, and this is huge, it got them out of that insane slot deal with DeFrancis via their Chapter 11 with the fake auctions and all. Had Magna actually shown up with the slot license money DeFrancis would be collecting big millions from slot profits for 20 years while having absolutely nothing to do with racing.

2 - Penn is a very savvy company. They already have Stronach where he can’t do anything in Md. without their approval, hence the current problems. (Either that or Frank is just using them for “good cop, bad cop”.) ?? I just read recently that Penn Gaming is now the largest owner of racetracks in the country. If that doesn’t tell the racing industry that they’re in “deep mud” then I don’t know what does.

I think Penn just wants to get a bigger part of the slot dough and/or stifle the slot progress of its competitors in Md. for as long as possible. If the recent slot vote had gone the other way there probably would’ve been another 10 years of fooling around while Penn already had the first slot parlor in Md. in operation, not to mention their competition-free place at Charles Town. Looks to me like they’re just covering all of their bases and trying to weasel in anywhere/how they can. They may end up with the whole MJC at some point, if they want it, and if the state is crazy enough to let them have it. I view them as the spider in the MJC “partnership” and MID as the fly. I guess Frank needed some more OPM. ?? Looks to me like, by bringing Penn in, Stronach just gave away the store again similar to the DeFrancis deal. Maybe we’ll get to see another fake auction pretty soon.

takeout

12-08-2010, 01:04 PM

Maryland to consider slots subsidy
http://www.thoroughbredtimes.com/national-news/2010/12/07/maryland-considers-giving-tracks-money-from-slots.aspx

Comment: I don’t know what’s more unbelievable/sickening. The owners of the MJC trying to hold the state and industry hostage or the state and industry putting up with it. Evidently the current ownership of the MJC is in the process of being deemed “too big to fail”. Next I assume they’ll be paying themselves bonuses. :rolleyes:

Golf and Horses

12-08-2010, 08:29 PM

I wonder what will become of the Preakness if this continues?
It will be re-named "The Bleakness" :lol:

Relwob Owner

12-08-2010, 09:26 PM

1 - I don’t know. I’ve been wondering about that for a long time. Just guessing but I think they probably whiffed on purpose. They may have been broke as well, but, and this is huge, it got them out of that insane slot deal with DeFrancis via their Chapter 11 with the fake auctions and all. Had Magna actually shown up with the slot license money DeFrancis would be collecting big millions from slot profits for 20 years while having absolutely nothing to do with racing.

2 - Penn is a very savvy company. They already have Stronach where he can’t do anything in Md. without their approval, hence the current problems. (Either that or Frank is just using them for “good cop, bad cop”.) ?? I just read recently that Penn Gaming is now the largest owner of racetracks in the country. If that doesn’t tell the racing industry that they’re in “deep mud” then I don’t know what does.

I think Penn just wants to get a bigger part of the slot dough and/or stifle the slot progress of its competitors in Md. for as long as possible. If the recent slot vote had gone the other way there probably would’ve been another 10 years of fooling around while Penn already had the first slot parlor in Md. in operation, not to mention their competition-free place at Charles Town. Looks to me like they’re just covering all of their bases and trying to weasel in anywhere/how they can. They may end up with the whole MJC at some point, if they want it, and if the state is crazy enough to let them have it. I view them as the spider in the MJC “partnership” and MID as the fly. I guess Frank needed some more OPM. ?? Looks to me like, by bringing Penn in, Stronach just gave away the store again similar to the DeFrancis deal. Maybe we’ll get to see another fake auction pretty soon.

Awesome info-thank you very much. I went and tried to renew my owner's license and they didnt have the paperwork so it doesnt look too good.....

takeout

12-09-2010, 04:30 PM

Awesome info-thank you very much. Just my speculation, some (or much) of which could be wrong. Heaven only knows what goes on behind closed doors in these “high level” meetings. It’s a fairly safe bet though, that the outcome will involve welfare to the rich (the track owners) at the expense of the taxpayers, as per usual. And let’s not forget the salaries of all of the white shirts that sit around in meeting after meeting after meeting – only to report that they will meet again soon. Is it any wonder states are carrying huge deficits? It’s a little mini Wall Street all over again. They’re going to take the very ownership that screwed things up and reward it.

takeout

12-10-2010, 11:38 AM

Meeting between Stronach, Maryland officials postponed
http://www.thoroughbredtimes.com/national-news/2010/12/09/meeting-between-stronach-maryland-officials-postponed.aspx

[snip]
Frank Stronach, chairman of MI Developments, said he could not attend the meeting on Friday after saying earlier that he would be in Maryland this week to address the problem and meet with the state’s horsemen.

Stronach told THOROUGHBRED TIMES on Thursday that he will attend the next meeting—expected to be scheduled early next week—and propose a full live winter meet at Laurel Park and racing through the Pimlico spring meet.
[snip]

Comment: How can you take anything this guy says seriously? Really.

takeout

12-15-2010, 01:10 AM

JustRalph

12-15-2010, 01:19 AM

There is a rumor going around the area here in MD that the guy who owns the Casino that's going in at the mall is in talks to buy the Laurel Park property. I don't believe it. Nobody seems to know if he would leave it as a racing venue. Although I do know he just purchased some land up the street from the mall, to put in a few restaurants.

I think Laurel is close enough to tie in with the Casino if he wanted to promote the two together. I just don't think it makes good business sense. But he's the rich guy, and I am some dork on the net.........

takeout

12-15-2010, 01:55 AM

Interesting rumor. Especially right in the middle of all that’s going on.

Saratoga_Mike

12-15-2010, 09:39 AM

http://www.baltimoresun.com/business/bs-bz-hancock-tracks-eminent-domain-20101213,0,4098989.column

[snip]
On Monday the Maryland Horse Council urged Gov. Martin O'Malley to begin the process to seize the tracks and resell them to a responsible owner.
[snip]

Comment: ‘Bout time.:ThmbUp:

On the contrary, this would be an outrageous abuse of eminent domain laws.

JustRalph

12-15-2010, 12:03 PM

Saratoga_Mike

12-15-2010, 01:15 PM

[QUOTE=Saratoga_Mike]

you're right. But since 2006 eminent domain has been expanded to do anything the government wants....via the Supreme Court.

That was one of the most outrageous rulings in the past 50 yrs. How "public use" is what a private developer wants is beyond me. I certainly hope eminent domain isn't invoked here. And while the Kelo case gave a broad reading of eminent domain, it all comes down to state/local law--Kelo merely affirmed the constitutionality of expansive eminent domain laws. It didn't force every state/municipality to adopt such laws. If Maryland has narrow eminent domain laws, then they probably can't confiscate LRL and/or PIM.

takeout

12-15-2010, 04:59 PM

On the contrary, this would be an outrageous abuse of eminent domain laws.I think they just made that law last year in response to Magna’s Chapter 11. (Chapter 11, now there’s a BS law.)

Eminent domain: What else to do? They won’t run, they won’t sell. Any suggestions?

takeout

12-15-2010, 05:10 PM

Commentary By Lou Raffetto
http://www.pressboxonline.com/story.cfm?id=7091

[snip]
In racing, the most unlikely union one could imagine is the alliance of MID (Stronach) and Penn National Gaming (PNG). The idea of Stronach, the megalomaniac, and PNG, one of the most successful gaming companies in the world, being joined at the hip would be comical if the situation were not so dire.

For Stronach, this is nothing more than a hobby. Relatively speaking, he has little money invested, and could not care less about the financial performance of the company. Just ask some of the people that lost hundreds of millions of dollars in MEC.
PNG, on the other hand, takes its fiduciary responsibility (and stock price) very seriously. Unlike Stronach, racing is not a hobby, but a means to a financial end.

What happens to racing in Maryland in the short term? There is no doubt Laurel will race this winter, and Pimlico will conduct its traditional meet. The horsemen, who appear to be mere pawns in this game of chess, have the ability under federal law to block the sale of the Pimlico signal.

The inability to sell the Preakness would have catastrophic effects on the MJC. While the horsemen may seem like kamikaze pilots, the fact of the matter is they realize once approvals are given and the Preakness is over, they lose all leverage.
[snip]

Saratoga_Mike

12-15-2010, 06:14 PM

I think they just made that law last year in response to Magna’s Chapter 11. (Chapter 11, now there’s a BS law.)

Eminent domain: What else to do? They won’t run, they won’t sell. Any suggestions?

The eminent domain precedent Ralph was referring to was established a few yrs ago in Kelo v. New London. In essence, the decision expanded eminent domain well beyond the traditional bounds of taking property for "public good."

As for Chapter 11, I think it generally works well.

What else to do? Nothing. The state has no right to the property, in my opinion, which is of course contrary to established case law, unless it becomes a public health hazard or otherwise endangers the public.

Let's say you own five acres of land with a house on it. Your four neighbors own similar pieces of land and homes. A developer comes around and offers to buy all of you out. Loving where you live and not needing money, you all refuse his offer.

Does he give up? No, he approaches the town council and proposes they "take" the property (with just compenstation) by invoking eminent domain statutes. But how can this happen? The developer wants the property for a private good, not a public good. Simple, the town council states the enhanced tax base that will results from the development of the 25 acres is in the interest of the public good. With the Kelo decision, Supreme Court precedent is on the side of the town (assuming they have in place broad eminent domain laws).

In my opinion, no one has the right to take your home for private enrichment (the Supreme Court disagrees with me). And no one has a right to seize ownership of LRL or PIM (depends on the specifics of Maryland law). If the creditors want to take ownership, fence off the property and let it rot, that's their business, in my opinion. For the good of the horsemen and horseplayers, I hope that doesn't happen.

InTheRiver68

12-15-2010, 10:07 PM

I think they just made that law last year in response to Magna’s Chapter 11. (Chapter 11, now there’s a BS law.)

Eminent domain: What else to do? They won’t run, they won’t sell. Any suggestions?
You are correct. This isn't a generic eminent domain law, this is a law specifically tailored to the Maryland racing situation. It's purpose was to protect the Preakness as the valuable commodity that it is.

Here's a complete explanation of the law: Eminent domain for racetrack takeovers gets backing
(http://www.wtop.com/?nid=25&sid=1646858).

- InTheRiver68

JustRalph

12-16-2010, 01:49 AM

They could always move the Preakness to some other Magna property right?

Kelso

12-16-2010, 05:02 PM

This is what confuses me. If the product (racing) is so bad and Unprofitable, then why are so many factions fighting to maintain or increase racing dates. Logic tells me, the more dates, the larger the losses. Is this just a bunch of dogs fighting over scraps, or is the real truth of profits being hidden?

It's really not complicated. There are not "so many factions" demanding more racing ... it's only the selfish horsemen doing the whining.

They understand that more races mean significantly smaller fields. That makes it sooooo much easier for selfish horsemen to collect welfare checks disguised as purse money.

Their windfall profits, of course, are courtesy of Maryland’s taxpayers. (That's what makes the horsemen selfish. They're entitled to the people’s money, doncha know.) The welfare-purses come from slot profits ... profits that should belong, in their entirety, to all of the people whose state government passed the laws allowing slot machines in the first place.

(Race tracks and horse racing are not essential to the business of gambling with slot machines – nor to any other form of gambling, for that matter. That's why there is no justification, whatsoever, for giving the selfish horsemen privileged status ... putting them on the dole, as it were ... with regard to slot profits.)

Owning racetracks is not profitable in Maryland. Only collecting welfare-purse money is a lucrative business model for racing in The Old Line State. That’s why the selfish horsemen want more racing … and more opportunities to get their chunks of the taxpayers’ money.

takeout

12-16-2010, 06:32 PM

They could always move the Preakness to some other Magna property right?There was a thread back in 2004 about that, due to a Beyer article about moving the Preakness. The thinking was that the state owned the Preakness and it couldn’t be moved. No one seemed to know for absolute certain though.

http://www.paceadvantage.com/forum/showthread.php?t=11257&page=2&pp=15&highlight=moving+Preakness

JustRalph

12-16-2010, 08:11 PM

There was a thread back in 2004 about that, due to a Beyer article about moving the Preakness. The thinking was that the state owned the Preakness and it couldn’t be moved. No one seemed to know for absolute certain though.

http://www.paceadvantage.com/forum/showthread.php?t=11257&page=2&pp=15&highlight=moving+Preakness

Thanks!

takeout

12-18-2010, 05:02 AM

Gulfstream reaches deal with horsemen for first half of meeting only
http://drf.com/news/gulfstream-reaches-deal-horsemen-first-half-meeting-only

Sounds a lot like what’s going on in Maryland.

And the noose tightens.

andymays

12-18-2010, 10:21 PM

Maryland racing in state of confusion as meeting looms - Thoroughbred Times

http://www.thoroughbredtimes.com/national-news/2010/12/18/maryland-racing-in-state-of-confusion.aspx

Excerpt:

On the final day of live racing in Maryland this year, MI Developments Chairman Frank Stronach said on Saturday a verbal agreement is in place with the state’s horsemen for a full schedule of 140 live days at Laurel Park and Pimlico Race Course in 2011.

However, Maryland Thoroughbred Horsemen’s Association representatives and the Maryland Racing Commission said no deal has been made Saturday, three days before the highly anticipated December 21 meeting of the commission.

takeout

12-19-2010, 03:52 AM

A verbal agreement from Stronach. Good one! :lol:

Zydeco

12-19-2010, 09:16 AM

takeout

12-19-2010, 11:16 PM

There is a story on Laurel Park on the front page of the Washington Post today. I don't know how to get the link for the page into this thread. It is about what might be the final days of Laurel Park.At Laurel racetrack, workers and neighbors fear for the future
http://www.washingtonpost.com/wp-dyn/content/article/2010/12/17/AR2010121706815.html

There's some video that goes with it as well. Things are looking pretty bleak.

Zydeco

12-20-2010, 07:21 AM

thank you takeout.

takeout

12-20-2010, 08:15 PM

You’re welcome. :) (Just copy the link and paste it in.)

Another meeting tomorrow. I’m sure they’ll get lots done. :rolleyes:
http://www.baltimoresun.com/business/bs-bz-horse-racing-uncertainty-20101220,0,6074296.story

Here’s my question: Why does Stronach keep saying stuff that he KNOWS is going to be a lie unless four other people on the MJC board of directors agree?

Southieboy

12-21-2010, 05:53 PM

The Maryland Racing Commission voted not to accept track owners' terms for continuing to operate in Maryland, signaling the effective end of live horse racing in Maryland.

The result of this vote will lead to the shut down of Laurel and Pimlico tracks by January 1st. Pimlico Race Course hosts the Preakness Stakes every year in May.

Further, horse owners will no longer accept owners terms for operating.

http://www.wbal.com/absolutenm/templates/story.aspx?articleid=64394&zoneid=2

Cardus

12-21-2010, 06:06 PM

What's up with these posters going rogue by using different fonts?

takeout

12-21-2010, 08:06 PM

http://www.bloodhorse.com/horse-racing/articles/60440/still-no-live-racing-schedule-in-maryland?source=rss
[snip]
Horsemen’s representatives said the MJC is seeking things they find unacceptable, including a shift in purse revenue to the operator; a pari-mutuel takeout increase; and closure of the Bowie Training Center, which is mandated to remain open by law.
[snip]

Comment: It never fails! :lol:

takeout

12-22-2010, 03:55 PM

A deal has been brokered among Maryland Gov. Martin O'Malley, the Maryland Jockey Club and Maryland Thoroughbred Horseman's Association that will ensure 146 days of live racing at Pimlico and Laurel Park in 2011. According to The Capital newspaper of Annapolis, Md., the MTHA will provide $1.7 million toward the MJC's operations, with another $3.5 million to $4 million subsidizing those operations—revenue from slot machines that was to be used for capital improvements at the track.
[snip]
http://www.paulickreport.com/news/the-biz/maryland-s-new-deal/

Comment: Surprise surprise. Another shinning example of ownership doing everything wrong and getting rewarded for it. :rolleyes:

And so fast yet. Poof! Just like that! After all of that BS. Poof! Done deal! Amazing.

I feel for you Maryland, I just can’t reach you. You do it to yourself.

And the 18-year boycott continues. Somebody wake me if this nightmare is ever over. :) :sleeping:

The_Knight_Sky

12-22-2010, 04:05 PM

....the MTHA will provide $1.7 million toward the MJC's operations, with another $3.5 million to $4 million subsidizing those operations—revenue from slot machines that was to be used for capital improvements at the track.

Please correct me if I'm reading this incorrectly.

The horsemen just "stole" the funds that the were earmarked
for capital improvements at Laurel and Pimlico.

Is that right? :confused:

12-22-2010, 04:06 PM

Please correct me if I'm reading this incorrectly.

The horsemen just "stole" the funds that the were earmarked
for capital improvements at Laurel and Pimlico.

Is that right? :confused:

Pretty much, but if there were no racing, why improve the tracks? For the record, I hate it, more welfare for horsemen.

takeout

12-22-2010, 05:03 PM

The horsemen just "stole" the funds that the were earmarked for capital improvements at Laurel and Pimlico.

Is that right? :confused:No, the whining track owners just “stole it” or rather had it given to them by the state. The horsemen are giving the track owners another 1.7 mil on top of that. Long story short: the horsemen and the state caved. If I’ve got it wrong I’m sure someone will jump in here and enlighten us both.

takeout

12-22-2010, 05:44 PM

For the record, I hate it, more welfare for horsemen.I hate it too but more so because it’s welfare for the rich, the track owners. Another “bailout” with the same lousy ownership still in place.

Tampa Russ

12-22-2010, 11:07 PM

It's all about The Preakness right now. No Governor wants to be the one that loses that. Not that I'm a fan of the current Guv, but I think he made the best deal he could, given the time contraints. It's not a solution, but it does by some time.

Zydeco

12-23-2010, 07:52 AM

http://www.washingtonpost.com/wp-dyn/content/article/2010/12/22/AR2010122205129.html

This article is in todays Washington Post Metro section

lamboguy

12-23-2010, 08:44 AM

growing up i could never imagine that horse racing would be gone from the state of rhode island and then rockingham park well its gone today. more than likely sulfolk downs has run its last meet in 2010. gone are the glory days but not forgotten. so i see that the jockey club in maryland has just got a stay of execution for another year. they have no plan nor an idea how to put the racing game back on firm ground. so next year at the same time we are going to hear more of the same that we just heard this year. if we turn back the clocks we will see that maryland was one of the first to start increasing takeouts and become more fan unfriendly. these things have a way of catching up. you must pay the piper eventually. so all that was accomplished is the people running the game got their overpaid salary's extended one more year.

i hate to be negetive all the time, but these guys running things are complete dopes.

i have always said that if i could do things my way i could increase handles in new york on a regular saturday afternoon to a minimum of $100 million. plans do take time and money to implement though. and it looks like those 2 commodity's are becoming a short supply in the racing game.

merry christmas

cj's dad

12-23-2010, 10:02 AM

This is a temporary fix that will cost the citizens of Maryland (taxpayers that is) 3.5 - 4 million $$.

Had the tracks closed, the outlay of $$$ in unemployment benefits, loss of state income tax revenue from those laid off and the loss of revenue from the tracks themselves would have greatly exceeded the 4 million $$.

The state and the MJC now have one full year to come up with a viable plan; fat chance of that happening.