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Author Topic: Wonder what will happen now......  (Read 4269 times)
jimk
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« Reply #25 on: July 11, 2006, 09:21:29 AM »

Wally I kind of thought maybe AP did that to be able to take Spts. share of slots if it ever happens.
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big wally
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« Reply #26 on: July 11, 2006, 09:33:28 AM »

Wally I kind of thought maybe AP did that to be able to take Spts. share of slots if it ever happens.

Could be but $20 million or less(he likely bouhgt it at a discount)  is a lot of cash for BIG IF....
« Last Edit: July 11, 2006, 09:47:58 AM by big wally » Report to moderator   Logged
David
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« Reply #27 on: July 11, 2006, 10:11:09 AM »

http://www.suntimes.com/output/news/cst-nws-race11.html

article
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David
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« Reply #28 on: July 11, 2006, 10:14:57 AM »

I guess Mr. D bought it personally, or one of his companies anyways.

If my memory serves me right, this is the same way that Churchill got control of Fairgrounds, by buying it's huge debt (which was basically due to a lost lawsuit with the horsemens group over video poker revenue).
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BeauNarro
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« Reply #29 on: July 11, 2006, 12:46:26 PM »

It will be interesting what the BUZZ was at and after the racing board meeting this afternoon. Anyone who has any news - please share it....
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Jim C
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« Reply #30 on: July 11, 2006, 01:14:00 PM »

I think I have said this before, but I will say it once again. AP does NOT want slots. They would much rather have the 3%. Ask Mr D himself if you want, he will tell you they do not want slots as the cost will be too high and there would not be as much left for purses as we all think due to what the costs would be and what the state would take. The 3% is much cleaner and a much easier sell to the casinos. I do not think they would kill a slots deal, but given a choice they would take the 3% over slots.

 Mr D will also tell you that he feels the off shore betting and rebate houses are the real problem for racing and is much more of an issue for racing's future than slots are. That is where the big drain for our purses is today and it will only continue to grow until we find a way to get a fair share of all that betting money into the purse accounts. Slots or no slots money bet on our product MUST come back into the system. Otherwise no matter what other money is added to purses, money will continue to flow out of the system.

As far as the Sportsmans deal, I think you will see a strong push for 3 days a week for the Sportsmans meet until Fairgrounds closes, then go to 4 days a week. Then AP would open running 4 days a week until CD closes and move to 5 days a week until Labor Day, then go back to 4 days a week. During those 3 and 4 days a week they would card 10 races a day. This would add a few more dark days to increase purses plus provide for more full fields. I would also expect attendance to increase as well. Its basic marketing really, to increase demand you limit supply.
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Round Table
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« Reply #31 on: July 11, 2006, 01:21:51 PM »

Wouldn't you love knowing who really has their finger in the offshore pie? I mean, I'm not pointing fingers cause I have NO idea, but I want seeing  the books, the equity side.

I mean, there is so much money just FLOATING AROUND out there that if you horsemen aren't getting more any, there's something wrong.
« Last Edit: July 11, 2006, 01:29:29 PM by 7474505B » Report to moderator   Logged

They ought to return to Tampa and fix the mistake they made.
big wally
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« Reply #32 on: July 11, 2006, 01:37:40 PM »

If Off Shore is the problem as an industry shut them out... the tracks know who they are and simply put do not  take their bets... but all the major tracks must do it and there can be no rogue tracks... the tracks are scared if they do cut them off... wagering will drop and I guarantee you many big players will not bet as much and some will leave the game all together(without rebates)... 
« Last Edit: July 11, 2006, 02:57:49 PM by big wally » Report to moderator   Logged
Round Table
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« Reply #33 on: July 11, 2006, 01:44:23 PM »

BW, you have no idea how much of the wealthiest Americans are again moving equity offshore, once more in droves and in literally staggering amounts, while the Treasury and Justice Departments turn a blind eye.

It's the small businessman getting burned  over the $10,000 "three strikes you're out freeze your funds wire transfer" while the wealthiest BILLIONS exit unchallenged.
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They ought to return to Tampa and fix the mistake they made.
big wally
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« Reply #34 on: July 11, 2006, 01:55:26 PM »

BW, you have no idea how much of the wealthiest Americans are again moving equity offshore, once more in droves and in literally staggering amounts, while the Treasury and Justice Departments turn a blind eye.

It's the small businessman getting burned over the $10,000 "three strikes you're out freeze your funds wire transfer" while the wealthiest BILLIONS exit unchallenged.

Become an FBI Agent or an IRS agent and track them down
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Round Table
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« Reply #35 on: July 11, 2006, 01:58:57 PM »

Wally, I quit the boy scouts a long time ago.
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They ought to return to Tampa and fix the mistake they made.
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« Reply #36 on: July 11, 2006, 02:53:42 PM »

Jim C I know you said it before and I know you are saying again, that AP does not want slots. You are missing the point of what I said about AP wanting slots for the sake of slots and not for the sake of racing. You have your beliefs and I have mine. I think if AP ever got it's foot in the door and got slots thier future would be slots and thier rearview mirror would be racing. That is what I'm talking about when I say AP is hanging on for slots. Get thier foot in the door, realize the huge profits with no muss no fuss and racing won't get any more attention than what the legislation would dictate. The focus would then change to how to get a bigger piece of that casino style dough. T he days of worrying about five horse fields and hundred and fifty thousand dollar on track handles would be behind them. Remember Jim just my opinion, but I think CDI would then be focussing on keeping CD one of the few longterm surviving tracks in the country where simulcasting and Derby Day will still keep very profitable. And still LOCATED in horse country. IMHO
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« Reply #37 on: July 11, 2006, 04:26:43 PM »

Maybe Arlington will switch the Jockey Club meet to Arlington Park?
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« Reply #38 on: July 11, 2006, 04:50:17 PM »

Maybe, but more likely to extinguish NJC and then to become the new 50% partner of Hawthorne National LLC. Imagine the heated arguments over EVERYTHING..gawd--what a mess the Carey Heirs have gotten themselves into.
I and a very few others tried to convince Tom Senior and Tom Junior that it was a MAJOR mistake, but Junior was trying to save his business life and thought that he would be protected under the Haw/Nat umbrella from his family members that wanted him out. They were still successful in dumping him, but now they are still left tied to the foot of NJC - sinking..sinking
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Jim C
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« Reply #39 on: July 12, 2006, 12:23:19 AM »

Jim K
I understand it is your opinion, but I am just telling you what I have been told by DD himself a number of times. Given a choice HE DOES NOT WANT SLOTS. The 3% is much more realistic and costs them NOTHING. Slots would cost CDI/AP over 100 million just to get started, then there is the legal issue with Arlington Heights and the city board being against slots at AP. It could very well be just like Florida where they approved slots but the state took so much in taxes and fees that it left very little for the tracks or horsemen. Why would they want to get into that mess if they can get 3% from the top casinos FOR NOTHING? And dont forget there will be sooner or later a casino in Chicago which would boost that 3% amount much higher then what is forecast now.

On a personal side of DD, as long as he is around racing will always be first for him. Hre is a guy who owns a multi BILLION dollar business that is privately held and relatively debt free.....he can travel where ever he wants, do whatever he wants, who whomever he wants at anytime he wants and yet where does he go just about every single day of his life? Not his business office, but Arlington Park and its not because he might get slots someday. He owns what may be the best Thoroughbred farm in northern Illinois, buys, sells and breeds horses and as we all know is the major stockholder of CDI. Now with all of that investment in racing do you really think his interest would suddenly turn to slots? If that were the case he could have bought the Casino Queen from Bidwills or who knows how many other casinos that have been for sale from time to time. Racing is in his blood and its what he enjoys.
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jimk
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« Reply #40 on: July 12, 2006, 06:32:35 AM »

Jim C I think for people like RLD it all comes down to three letters ROI period.
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