Evans with distressing quotes regarding AP's future..

[Kasept]

Churchill Downs CEO casts doubt on Chicago track's future, says Churchill could race less
By Gregory A. Hall

Churchill Downs Inc.'s chief executive on Thursday raised doubts about the future of its Chicago-area track and said the company's flagship Louisville track may have to further reduce racing dates.

"You can't run on hope," CEO Bob Evans said in an interview after the company's annual shareholders' meeting in Louisville. "... If we get to the point where you know 'not racing' is the best answer, well that's the best answer. But we're not starting there, and I hope we don't get there."

During prepared remarks at the meeting and in the interview after, Evans talked of plans for an impending internal review of its four racetracks and said it is difficult to justify racing at tracks that don't have slot machines or other forms of gambling to supplement purses. Asked if Arlington Park and Churchill are in jeopardy, Evans said any racetrack without alternative gambling would find it difficult to keep going without some business to make up the difference.

[Travis Stone]

More on the topic...

http://www.thoroughbredtimes.com/nat...ur-tracks.aspx

This entire sport is stuck in a perpetual state/feeling of, "We know it needs to be fixed but let's wait for someone else to make the move."

Everyone can say what they want - horse retirement, drugs, past posting, takeout - but without a good product, the rest don't matter. And right now, racing's product is bad.

If racetracks start to "do the Monmouth" ... then at what point do smaller outfits start to leave the game? And from there, a large portion of the industry will fragment more, fall apart and that'll be it. Horse racing might exist, on a much smaller scale, but how can it compete with larger, more appealing forms of gambling/entertainment?

Horse racing is kidding itself if it thinks slot machines will always be there... we've seen a few whispers, and eventually, governments will say, "Hey, why are we giving $x million to horse racing, let's just re-write the law and use that for schools and other programs." What voter-base will turn that down?

Racing is leaking revenue... handle is down everywhere. Yes, it's up at Monmouth, but as an industry, it is down. Less money in the game is less money in the game, no matter how you slice it.

[NTamm1215]

You can likely add Sam Houston and Retama to the list of smaller racetracks shutting down, at least from a live racing perspective.

NT

[Duvalier]

Originally Posted by NTamm1215

You can likely add Sam Houston and Retama to the list of smaller racetracks shutting down, at least from a live racing perspective.

NT

That sucks...I always liked Sam Houston.

[dellinger63]

So Arlington can't make it in the summer with one of the finest facilities out there but Hawthorne can make it running winters? Despite AP charging $8 admission?

[Cannon Shell]

Evans hasn't figured out yet that politicians dont read anything in the media unless it is about them and arent going to bend to his veiled threat.

[chucklestheclown]

Perhaps you don't follow Illinois politics. Pity. Arlington will be the site of tract homes in less than 15 years.
From the same article:

"Evans said all options are on the table in terms of making Arlington more viable, from reducing dates to selling the track.

“The future of racing at any track without added gaming is going to be in question,” Evans said. “If you think it’s bad now, wait and see in a few years. Every track that does not have alternative gambling is going to be in trouble.”...

Evans outlined racing’s $2.47-billion dip in pari-mutuel wagering in 2009 compared to ’07 and noted that foal crops continue to get smaller. The Jockey Club projects an 11.8% decrease in foals in 2010. With that in mind, Evans believes the tracks that will thrive will be the outlets that are able to boost purses with money from added gaming to attract entries from a shrinking pool of horses....

The economic downturn, according to Evans, has likely prevented more tracks from being sold for development. He said low property values have made selling tracks unattractive but if residential and commercial property values rebound, several tracks would likely be sold."


Between the beating they are going to take at Blago's trial and the imminent upswing in the housing market you can (sadly) kiss AP goodbye. Anyone who knows the area knows that land is prime.

[dellinger63]

Originally Posted by chucklestheclown

Perhaps you don't follow Illinois politics. Pity. Arlington will be the site of tract homes in less than 15 years.
From the same article:

"Evans said all options are on the table in terms of making Arlington more viable, from reducing dates to selling the track.

“The future of racing at any track without added gaming is going to be in question,” Evans said. “If you think it’s bad now, wait and see in a few years. Every track that does not have alternative gambling is going to be in trouble.”...

Evans outlined racing’s $2.47-billion dip in pari-mutuel wagering in 2009 compared to ’07 and noted that foal crops continue to get smaller. The Jockey Club projects an 11.8% decrease in foals in 2010. With that in mind, Evans believes the tracks that will thrive will be the outlets that are able to boost purses with money from added gaming to attract entries from a shrinking pool of horses....

The economic downturn, according to Evans, has likely prevented more tracks from being sold for development. He said low property values have made selling tracks unattractive but if residential and commercial property values rebound, several tracks would likely be sold."


Between the beating they are going to take at Blago's trial and the imminent upswing in the housing market you can (sadly) kiss AP goodbye. Anyone who knows the area knows that land is prime.

Blago tried to extort Johnston (Maywood, Balmoral) not any other tracks I'm aware of. Although I agree AP is prime land for sure there is a huge empty/hotel-Water Park in its shadow and the plant itself at AP is worth plenty. Unlike any other track I know of AP also serves as a mini-convention center and on many winter w/e's the lot is packed.

I also can't see Mr. D ever letting it be re-developed while he's alive. He's one of the few who could pull out a check book and buy it back. Thankfully he looks healthier than ever.

Like Chuck I think this was a shot over the bow in an attempt to get slots. I'm a bit confused as I know bars/Restaurants in at least Palatine are getting state licensed video poker machines. I guess I presumed AP was too. It would be ironic if Jimmy D's got machines, AP didn't and shuts down which would likely force Jimmy to shut down. Lastly IMO A.H. is crowded enough. It would be horrible to make it another Naperville although Jimmy's could become another Portillos if it did.

As I said in another thread I do think parts of AP, by the Sheraton, and by the church could be parceled off w/o selling the track and stables in the next 10-15 yrs.

[chucklestheclown]

If they don't hire one of us as a consultant you can kiss it goodbye.

[chucklestheclown]

Originally Posted by dellinger63

Blago tried to extort Johnston (Maywood, Balmoral) not any other tracks I'm aware of

Extort is a strong word but wait and see what Nagle allows in evidence.