PARX 2b bought?

[ldiatone]

http://www.horseraceinsider.com/John...cing/#comments

[lamboguy]

thanks for the update, the good thing is that the Stronach Group is the one that will be buying Parx.

the good part about that is that it's Franks Kids that are going all out to buy race tracks now and other betting entities involving horse racing. his kids not only know how to make money at the racing game, but also love it themselves.

people have been speculating whether the kids would sell the race tracks when their father is no longer here. this is proof that that is the furthest thing from reality right now.

[RXB]

Would be good to have Stronach's people in charge of racing at Parx.

There's been a movement afoot for a couple of years to reduce the legislated minimum number of racing dates for Parx and Penn National to 100 each. They could fulfill those dates by running 4 days per week for 6 months. There's no legitimate reason for the state of Pennsylvania to be subsidizing as many as 500 racing dates per year.

Also no need to have Parx, Delaware and Maryland all running during the summer. Delaware is in an ideal middle location both to receive and send horses from/to Parx and Laurel & Pimlico.

Parx could run from late August through February; Penn National from March to late August. Delaware seems ripe for a three-month meet from late May to late August, running five days per week.

[lamboguy]

Originally Posted by RXB

Would be good to have Stronach's people in charge of racing at Parx.

There's been a movement afoot for a couple of years to reduce the legislated minimum number of racing dates for Parx and Penn National to 100 each. They could fulfill those dates by running 4 days per week for 6 months. There's no legitimate reason for the state of Pennsylvania to be subsidizing as many as 500 racing dates per year.

Also no need to have Parx, Delaware and Maryland all running during the summer. Delaware is in an ideal middle location both to receive and send horses from/to Parx and Laurel & Pimlico.

Parx could run from late August through February; Penn National from March to late August. Delaware seems ripe for a three-month meet from late May to late August, running five days per week.

good observation. Parx is going to roll the dice with the weather and run January and February. i forgot the number of days that they are going to run, its either 120 or 140 that i heard last week. i think it should all work out real good.

[RXB]

The other thing that's going to come up in Pennsylvania is that Presque Isle cannot continue with five days per week ad infinitum. The horse population and purse accounts are shrinking.

Statutory minimums are a bad idea because racing schedules should be determined by current revenue projections rather than by legislation from years ago that is unconnected with present realities.

[Shemp Howard]

Running the Pig Penn for 6 months is bad news for the 5% trainers that can't get a win in 6 horse fields.

[castaway01]

Originally Posted by lamboguy

thanks for the update, the good thing is that the Stronach Group is the one that will be buying Parx.

the good part about that is that it's Franks Kids that are going all out to buy race tracks now and other betting entities involving horse racing. his kids not only know how to make money at the racing game, but also love it themselves.

people have been speculating whether the kids would sell the race tracks when their father is no longer here. this is proof that that is the furthest thing from reality right now.

Tell us about all the times Frank and his kids have made money in the racing game that wasn't casino-related.

[RonTiller]

Tell us about all the times Frank and his kids have made money in the racing game that wasn't casino-related.

1. Adena Springs - Kentucky, Florida, Ontario - Eclipse and Sovereign Award winning Breeder

2. Stronach Stables - Eclipse and Sovereign Award winning Owner

3. AmTote International - One of the major tote companies

4. XpressBet - AWD

5. Palm Meadows Training Center - Boynton Beach Florida - one of the largest thoroughbred training facilities in the world

I'm not privy to P&L reports for any of these. I'll guess at least some of them make money - maybe not, in which case, point taken.

And although not strictly speaking part of the racing game, you gotta love Frank's Energy Drink

Ron Tiller
HDW

[lamboguy]

Ron it it entirely true that most of their race tracks underperform the real estate they are located on. Santa Anita is probably worth over $1 billion as a real estate project while i don't think the track profit's $5 million a year. they will never be allowed to close the race track and develop all the land, maybe someday can develop part of the property while operating the race track, but if memory serves me right Stronach bought the place for under $100 million and the place produces lots of Xpressbet customers that stay at home and wager.

Xpressbet is very highly profitable in its own.

[ronsmac]

This is terrible news for small to medium sized bettors who receive rebates betting Parx. You can kiss most of that rebate goodbye.

[lamboguy]

Originally Posted by ronsmac

This is terrible news for small to medium sized bettors who receive rebates betting Parx. You can kiss most of that rebate goodbye.

there are places that rebate smaller players still.

[reckless]

Originally Posted by ronsmac

This is terrible news for small to medium sized bettors who receive rebates betting Parx. You can kiss most of that rebate goodbye.

If the new group could purge the place of the cheaters and dopers, the gyps, and especially the homesteaders that never race, much less win, then racing could improve to the point where rebates shouldn't be as important an issue.

[ronsmac]

Originally Posted by lamboguy

there are places that rebate smaller players still.

Yes. Depends what one's definition of small is.