Magna Entertainment Corp (MEC) - Some Perspective

[hoovesupsideyourhead]

Originally Posted by blackthroatedwind

In all fairness you may want to reserve judgement on liking " what he's done " with Gulfstream until you visit.

For me, the South Florida racing experience has been completely ruined. I'm sure others will disagree, and for them I am happy, but I was uncomfortable in the new plant. I spent upwards of 250 racing days at the old Gulfstream and there is NO semblence of the pleasurable former plant remaining. I am not suggesting that all changes were not for the better, and I am all for reinventing racetracks for the future, but to deny the fans what is enjoyable about spending a winter day in the sun at the racetrack in the Miami area is a crime that I have a tough time forgiving.

And I am not even talking about the closet sized paddock and dangerously tight walking ring. I shudder to think of what could happen should a horse get loose in that cramped space. Suffice to say it will be a situation that racing will have a very difficult time recovering from.

as i said i was at the old one i was at the under constrt gulf, i like the plan and lets face it the cards this year money wise were crap in comparison to ny ..the only way to get that up to par is slots..period..again its not the old way but when the plan comes to fruition...the will be no reason for the best in the country not too flock to hallendale..imo the layout may be bad for some but the bumz in the bleachers thing is not what they need..if it costs 10 bucks for a ticket that will get rid of the unwashed..ill gladly pay...

[blackthroatedwind]

Sadly the profit sharing under the current slots deal will not get the purses to an adequate level from what I understand.

I will be more interested in your thoughts on the new Gulfstream once you've actually been there. I have no argument that in all fairness one should wait until it's a finished product. Sadly, for me, the veranda for viewing the paddock while getting sun is gone forever. As is the relaxing grassy areas surrounding the paddock ( there is no grass in the plant save the infield ). I will always miss the eating area around the cafe connected to the jockey's room.

I regret that in all likelihood I won't be going down to the Miami area during future winters to enjoy my obsession. Luckily, however, Magna has not purchased South Beach......... yet.

[hoovesupsideyourhead]

well i can only say from what ive heard..its still not done..so like i said after its done ill visit..sorry about the sun..im sure they can take care of you somehow...good luck hooves..

[Hickory Hill Hoff]

This whole situation with NYRA has all been political for the most part from the getgo. It was Spitzer's baby from the beginning to get closer to the governorship by making public all these problems with NYRA. Has there been mismanagement? YES, but was it all worth NYRA possibly losing the franchise,
I doubt it. The problems with "crooked tellers" was corrected - the maitre d' who took big tips for a table, he got fired and is now is sueing - the security the surrounds the Spa and Oklahoma track is ridiculous and all from what! A attorney general from the state of New York who wants to make a name for himself. New York racing is the best in the land - bar none! For over 50 year's NYRA has run the track and it has survived. To put it in the hands of someone else now, just because some political bozos made waves - could be dangerous. The situation could be worst and the racing product will be effected. What happens...happens, but the future of racing in New York hangs in the balance. And things could be worst, for the thoroughbred fan if the politicians have thier way. And this guy may be our next governor??? Only in New York...

[goingtothewhip]

Originally Posted by Lbigdog77

Blacktwind -


Best of luck to you. You might be interested in viewing the ESPN horse board. Lots more irrelevant bashing going on there.

LR

All that he (blacktwind) did is disagree with you and give his reasons for doing so. I don't see how that is considered "irrelevant bashing"? You remind me of that other oversensitive guy and kind of sound like him. All the Best...

gointothewhip -

"tell the whole story to achieve any credibility"
"thanks for the magna infomercial"

what post are you reading?

Me and BTW are cool after conversing, by the way.

who are you and what's your agenda?

LR

[blackthroatedwind]

Yes, I would agree with the above post. I gave it out...I can take it in return.

No hard feelings from the first response and none now.

[goingtothewhip]

Agenda? lol

As long as you guys have found common ground, my work is done here. Thats my agenda.

As far as who I am, you can PM me if you are so inclined and are that interested.

warmest regards,
thewhip

[disappearingdan_akaplaya]

i can see here and go on and on about frank and magna all night long but most who have known me for years already know my feelings about him and his BS and its late so no need to go there, ill just go to bed goodnight

[SentToStud]

Originally Posted by blackthroatedwind

In all fairness you may want to reserve judgement on liking " what he's done " with Gulfstream until you visit.

For me, the South Florida racing experience has been completely ruined. I'm sure others will disagree, and for them I am happy, but I was uncomfortable in the new plant. I spent upwards of 250 racing days at the old Gulfstream and there is NO semblence of the pleasurable former plant remaining. I am not suggesting that all changes were not for the better, and I am all for reinventing racetracks for the future, but to deny the fans what is enjoyable about spending a winter day in the sun at the racetrack in the Miami area is a crime that I have a tough time forgiving.

And I am not even talking about the closet sized paddock and dangerously tight walking ring. I shudder to think of what could happen should a horse get loose in that cramped space. Suffice to say it will be a situation that racing will have a very difficult time recovering from.

BlackTW,
I respect your thoughts, here's a few of mine...

I know little about NYRA, so won't comment about it. I do, however, have some Gulfstream experience and will mark a note or two on that.

But first, a comment about slot machines. Does anyone really believe slots will help racing long-term? Perhaps they will help level the field for a few years, but really, how many blue-haired gals are there to go around? In time, you will see tracks close for lack of profit, slot machines notwithstanding.

Speaking of profit, there's nothing wrong with running racetracks with profit the primary objective. CDI certainly does it as does Stronach. Racetracks are physically huge facilities and their primary asset is the real estate upon which they rest. Gulfstream sits on 600-700 or so acres of tremendously valuable real estate and it's unrealistic to expect Stronach and his company to allow that property to go underdevloped and underutilized for 360 or so days per year. Go on reator.com or zillow.com and see what a decent 3br/2ba house on 1/4 acre east of Federal Hwy in Hallandale or Hollywood (FL) will run you. If it's less than $750k, buy it!

So, Stronach has decided that he would not rebuild Gulfstream to maximize the comfort of fans on two levels... 1, the $2 bettor; and, 2, the 3-4 "big" days of racing per year at Gulf. I don't blame him one bit. He's smart enough to sacrifice on-track attendance and handle for those days knowing that today's world has account and interstate wagering that more than makes up for it. Gulfstram is built to maximize revenue per square foot, pure and simple. To have done anything else would have been a mistake.

I think it's important to recognize and remember that Miami is not Saratoga, DelMar or Keeneland. It's not even Oaklawn. You will NEVER see more than 7-8,000 people at the track in South Florida, except 3-4 times a year for the huge racing days. For a weekday card, whether it's at Calder in August or at Gulfstream in February, you are going to see 3,000 at the track. That's it. So, what's the point of having a huge open area that's useable for at most 3-4 days per year? Doesn't make sense. (By the way, I spent a couple hours sitting in the grandstand at Calder yesterday. I counted 13 people in the grandstand 5 minutes before the 4th race. Two or three were probably security, leaving 10-11 "fans" enjoying the June Calder sun!). Please do remember that nearly NOBODY will sit outside at the races at a Miami track from mid-May through September!

And here's another way to look at it. Ask yourself, "Would I build it again, right now, knowing what I now know?" The truth is that you could never build a facility as large as Aqueduct or Belmont again.

And, yes, I've been to Gulfstream, a couple dozen times, including several visits during it's "dark" season. It's a very nice place. I'll go often.

I suggest an experiment... Take someone who knows absolutely nothing about horse racing to two different racetracks on two different Wednesdays... Gulfstream in January and Belmont in June. See at which place they have the better experience!

just my 2 cents worth.

[sumitas]

To me the most important thing is NY horse racing for NY. Not making money for a company via malls or inflated prices.

It seems to me the NYRA has done an admirable job with a few bumps along the way. With the right business model and the proper focus on horse racing as the #1 priority the NYRA should win the bid.

The horse racing industry in NY is a major business in the state. It needs to be preserved and supported by NYS. We have enough malls and amusement parks.

But we'll know June 30 who is interested in bidding and may the best bid win.

[Downthestretch55]

Originally Posted by sumitas

To me the most important thing is NY horse racing for NY. Not making money for a company via malls or inflated prices.

It seems to me the NYRA has done an admirable job with a few bumps along the way. With the right business model and the proper focus on horse racing as the #1 priority the NYRA should win the bid.

The horse racing industry in NY is a major business in the state. It needs to be preserved and supported by NYS. We have enough malls and amusement parks.

But we'll know June 30 who is interested in bidding and may the best bid win.

Sumitas,
I've stayed out of this. Many good points have been made by both sides of this issue.
I'll just toss out my two cents for what it's worth.
It looks like NYRA is teaming with MGM Grand (for profit). The prize being the slots at Aqueduct.
DTS

Originally Posted by sumitas

To me the most important thing is NY horse racing for NY. Not making money for a company via malls or inflated prices.

It seems to me the NYRA has done an admirable job with a few bumps along the way. With the right business model and the proper focus on horse racing as the #1 priority the NYRA should win the bid.

The horse racing industry in NY is a major business in the state. It needs to be preserved and supported by NYS. We have enough malls and amusement parks.

But we'll know June 30 who is interested in bidding and may the best bid win.

See Sumitas--this way of thinking just doesnt get it done in this day and age. There are too many other entertainment avenues. This is why the NYRA is $20 mm in debt. This way of thinking is narrow minded. NY racing will not be hurt by anyone. In fact, NY racing is the best in the nation and could be the best in the world with a strong company behind it. Slots are the prize, but racing will not be affected. I do not know how having malls, restaurants, etc etc will have an effect of the quality of racing. If you can show me how a shopping mall will hinder the Suburban, Wood or an $50k allowance then I will change my mind.

[Suffolk Shippers]

Originally Posted by Lbigdog77

S Shipper -

You are absolutely correct re: Meeker and his charter to increase CDI stock value (very serious).

My opinion comes from a TB breeder, owner, etc. though, versus a CDI shareholder.

Meeker has leveraged the CDI enterprise to optimize CDI share price; he's done nothing to promote Thoroughbreds or the sport of racing. My investment / interest in the game is for the horses, not for stock appreciation in any of the enterprises that own the tracks.

LR

Point well taken, my friend. It is rather unfortunate that there doesnt seem to be a platform where both could co exist peacefully. Someone who can bring the passion for the game and the desire to see it succeed like Stronach while still having the ability to run a company that turns profits for investors.
I dont own any stock in CDI or MEC so I much prefer to see money invested to promote the good of the game.

Just an example, many people get angry or frustrated (myself included sometimes) when an owner takes no chances and pulls a horse from the track and sends him to the breeding shed. The owner has no incentive to keep the horse on the track and risk losing him to some unfortunate injury, etc. You would think track owners could come together and offer some kind of incentive to keep horses on the track, jack up purses, etc.

That might be a crappy example, but I think you get my point. I know I get yours as well. I was speaking from the stand point of a business school grad and it's better that someone like you who has an unabashed passion for the game is running the horses and not someone like myself, who is cold hard business. I still love the game, though.