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Author Topic: NJ Horsemen want answers.  (Read 594 times)
CLOCKERbiggestal
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« on: December 03, 2010, 02:16:39 PM »

http://drf.com/news/new-jerseys-racing-industry-deserves-answers

Like how does a track lose so much money.

Governor refuses to meet with horsemen to answer simple questions
like the ones posed in the article.

How can a track increasing handle by 120,000,000 lose money? (monmouth)

How can a track that lost handle this year make a profit. (Arlington)

I am telling you the NJSEA number just don't add up to the massive losses the Govenor is projecting.

on the your money NJ page

http://www.yourmoney.nj.gov

it states for the new fiscial year of 2011 (starting in jUly 2010 til September 2010)

Revenues for the entire NJSEA was 49 Million while expending 51 million. Running in the red for sure but hardly the massive number for reported losses that the claimed for both the meadowlands and monmouth.

Terry wants the real numbers . so do I. and so do the horsemen.

They deserve nothing but the truth.


 clocker biggestal
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OTB
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« Reply #1 on: December 03, 2010, 02:36:06 PM »

God luck getting the real numbers.  Tom Luchento and John Forbes have asked time again for the real numbers but politicians continue to block and perform end runs.  Luchento and Forbes need to take their case directly to the people and demand shady accounting practices end.  Demand accountability and demand dialogue.  In doing so they should play a tape of Governor Christie who promised these very things when he ran for the office.

Nobody wants a hand out, just asking that they prove what they claim is real.

The answers to those questions are easy...because the NJSEA which runs Monmouth and the Meadowlands has been involved in the following over the past few years:

1- Buying and operating the Izod center which plays host to ZERO pro teams

2- By building an aquarium in the shithole of the world Camden, NJ

3- By renovating and adding on to the Rutgers University football stadium which does not sell out even BEFORE the addition

4- By getting involved in boondoggles like Xanadu

5- By building a convention Center in Wildwood that has yet turn dollar one in profit

Racing by itself in the state of NJ does not lose money.  The NJSEA uses the racing as a piggy bank to finance operations like the ones above to feed political cronies no bid contracts. 

It's all politics and ripoffs.
« Last Edit: December 03, 2010, 02:40:14 PM by OTB » Report to moderator   Logged
CLOCKERTERRY
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« Reply #2 on: December 03, 2010, 03:39:04 PM »

on the your money NJ page

http://www.yourmoney.nj.gov

it states for the new fiscial year of 2011 (starting in jUly 2010 til September 2010)

Revenues for the entire NJSEA was 49 Million while expending 51 million. Running in the red for sure but hardly the massive number for reported losses that the claimed for both the meadowlands and monmouth.

How do you tell from those numbers the specifics for racing, broken out from everything else the NJSEA does?
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Edwarren
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« Reply #3 on: December 03, 2010, 03:41:33 PM »

http://drf.com/news/new-jerseys-racing-industry-deserves-answers

Like how does a track lose so much money.

Governor refuses to meet with horsemen to answer simple questions
like the ones posed in the article.

How can a track increasing handle by 120,000,000 lose money? (monmouth)

How can a track that lost handle this year make a profit. (Arlington)

I am telling you the NJSEA number just don't add up to the massive losses the Govenor is projecting.

on the your money NJ page

http://www.yourmoney.nj.gov

it states for the new fiscial year of 2011 (starting in jUly 2010 til September 2010)

Revenues for the entire NJSEA was 49 Million while expending 51 million. Running in the red for sure but hardly the massive number for reported losses that the claimed for both the meadowlands and monmouth.

Terry wants the real numbers . so do I. and so do the horsemen.

They deserve nothing but the truth.


 clocker biggestal

Didn't see the word "Monmouth" mentioned anywhere in the article, Al.

Honest question.  Did not or is not AP losing money?  That is what I been led to assume.
« Last Edit: December 03, 2010, 03:46:02 PM by Edwarren » Report to moderator   Logged
CLOCKERTERRY
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« Reply #4 on: December 03, 2010, 03:44:32 PM »

Didn't see the word "Monmouth" mentioned anywhere in the article, Al.

Or the website about revenue and expense.
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Edwarren
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« Reply #5 on: December 03, 2010, 03:48:06 PM »

Or the website about revenue and expense.

revenue and expense are mentioned for the entire authority, which is what you do see, right?

$49MM
($51MM)
($2MM)
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CLOCKERTERRY
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« Reply #6 on: December 03, 2010, 03:49:45 PM »

revenue and expense are mentioned for the entire authority, which is what you do see, right?

$49MM
($51MM)
($2MM)

Yeah. That's what Al referenced, but I don't see where racing is broken out.
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Edwarren
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« Reply #7 on: December 03, 2010, 03:51:51 PM »

Or the website about revenue and expense.

I'm not taking sides but it is a very inflammatory rant, filled with unsubstantiated allegations regarding chargeoffs to the Meadowlands.  I mean, the numbers should be available, just not on Christies "transparency" site, but somewhere, as a matter of public record.
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CLOCKERTERRY
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« Reply #8 on: December 03, 2010, 04:13:15 PM »

I'm not taking sides but it is a very inflammatory rant, filled with unsubstantiated allegations regarding chargeoffs to the Meadowlands.  I mean, the numbers should be available, just not on Christies "transparency" site, but somewhere, as a matter of public record.

I think the guys on the harness side have this one nailed: There eventually WILL be slots/casinos at the Meadowlands, but the powers that be (and probably their casino partners) are trying to get the horsemen out of the revenue sharing equation and keep all the dough for themselves.

Ultimately, however, it's the State's property and the State's gambling licenses, to do with as they please.
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Edwarren
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« Reply #9 on: December 03, 2010, 04:25:26 PM »

I think the guys on the harness side have this one nailed: There eventually WILL be slots/casinos at the Meadowlands, but the powers that be (and probably their casino partners) are trying to get the horsemen out of the revenue sharing equation and keep all the dough for themselves.

Ultimately, however, it's the State's property and the State's gambling licenses, to do with as they please.

Undoubtably the service unions and the horsemen will voice their support stridently.  I, or some, just wonder if the State f NJ has the revenue to support it all. Look what happened in NV.  Gambling capitol of the US, flat on its ass.  The gov could easily make the case it needs to shed, sell-off property, just as it's easy to accept the fact some there smell rodent and they're not talking squirrel. 
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OTB
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« Reply #10 on: December 03, 2010, 08:29:06 PM »

Just take a look at who Christie has been hanging with lately....Donald Trump.
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OTB
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« Reply #11 on: December 03, 2010, 08:30:54 PM »

I'm not taking sides but it is a very inflammatory rant, filled with unsubstantiated allegations regarding chargeoffs to the Meadowlands.  I mean, the numbers should be available, just not on Christies "transparency" site, but somewhere, as a matter of public record.

The harness guys (myself included) have been asking for this since Florio was governor and everyone of them since has pulled the same stuff.
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The_Knight_Sky
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« Reply #12 on: December 14, 2010, 08:44:02 PM »


I think the guys on the harness side have this one nailed:
There eventually WILL be slots/casinos at the Meadowlands, but the powers that be
(and probably their casino partners) are trying to get the horsemen
out of the revenue sharing equation and keep all the dough for themselves.



Precisely that.



Ultimately, however, it's the State's property
and the State's gambling licenses,to do with as they please.


Not before litigation.   This administration would have to answer to a lot of
questions from their citizens.  The first one would be exactly where did all the revenues
from the Meadowlands Racetrack go since its inception in 1976.

They're already unable to answer that.
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pamwaggy
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« Reply #13 on: December 14, 2010, 09:31:03 PM »

Just take a look at who Christie has been hanging with lately....Donald Trump.

Oh oh, NOTHING but trouble there.
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