MEC '07 losses total $113,000,000

[freddymo]

Originally Posted by DaHoss9698

Don't you think that's a serious repercussion Freddy?

It's apositive long term and it accelorates a cleansing that is badly needed. I think Andy meant serious repercussions to have negative implications.. I see it as a huge long term positive. The industry is dying because nobody has figured out how to earn.. So one of two things have to happen.. Either the Europeans buy up the real estate with there inflated euro and try to run these properties at cash flow break even or half the dates for racing get eliminated and the industry downsizes to something that the betting base can support.. I view the latter as a huge positive

[freddymo]

Originally Posted by DaHoss9698

We view things differently, obviously.

Ya think...

Racing is basically a dying business either it gets well soon or it dies

[ArlJim78]

Originally Posted by freddymo

It's apositive long term and it accelorates a cleansing that is badly needed. I think Andy meant serious repercussions to have negative implications.. I see it as a huge long term positive. The industry is dying because nobody has figured out how to earn.. So one of two things have to happen.. Either the Europeans buy up the real estate with there inflated euro and try to run these properties at cash flow break even or half the dates for racing get eliminated and the industry downsizes to something that the betting base can support.. I view the latter as a huge positive

I look at it like you, a long term positive. Once in awhile its heathy to flush out those with the wrong methods. It sets the table for future growth when others come in to pick up the pieces and rebuild under hopefully a successful model. Something has to change.

[sumitas]

Interesting view and it does make sense. You either make money or get out. Basic economics.

[freddymo]

Originally Posted by DaHoss9698

We view things differently, obviously.

I know you love racing as I do......VLT's and slots are a bigger problem for racing then ELA and others think. If destroying potential customers net worth is a long term positive for racing then I am monkey's uncle. The short term cash infusion is fools gold and simply masks the underlying issues with racing...

Racing is currently structured around bettors and unfortunately fewer and fewer bettors and betting dollars are being wagered on racing. Adding more competition that liquidate peoples pockets faster isn't to bright IMO.

[blackthroatedwind]

Oversimplification is a dangerous thing.

[Oaklawnfan]

Originally Posted by Cardus

MEC's board might choose to liquidate, but Santa Anita will continue to exist, and Gulfstream stands a chance to remain as a racing entity, also.

Of the others, Remington's slots could keep it in the racino business.

Remington came back from near death, thanks to the racino. The industry in Oklahoma is on the upswing. Hopefully this won't blow it up.

[freddymo]

Originally Posted by Oaklawnfan

Remington came back from near death, thanks to the racino. The industry in Oklahoma is on the upswing. Hopefully this won't blow it up.

It has to blow up people are losing millions

[infield_line]

I'm sure that tracks are not easy places to run, lots of labor required, limited operating seasons, and constant need for capital to keep the places from falling to ruin, but they are great places to spend time as any of us understands. Why can't more tracks take a lesson from Santa Anita that works hard to draw in new fans, younger fans, and offers other reasons to come to the track and hang around for music...

Tracks should do everything they can to give the casual racegoer more capping and wagering skills. Not something you can learn from a 3 x 5 card, but they could give out key tips on tried and true angles, where to find trainer/jockey stats in the PP's. Trust me lots of folks don't know how to make up from down in the PP's. One good pop and a lot of people would get the bug and find their way on-line

I/L

Originally Posted by freddymo

Racing is currently structured around bettors and unfortunately fewer and fewer bettors and betting dollars are being wagered on racing. Adding more competition that liquidate peoples pockets faster isn't to bright IMO.

This is a good point.
But a huge part of the problem is the dollars
bet on tracks that are not going to the tracks.

If money bet over the internet actually went back
to the track that spent money for the race to take place...

Im selfish because I want a track in my city to stay
open, I like live racing. But it just may not
be feasible and thats my tough luck.

[GBBob]

Originally Posted by freddymo

It's apositive long term and it accelorates a cleansing that is badly needed. I think Andy meant serious repercussions to have negative implications.. I see it as a huge long term positive. The industry is dying because nobody has figured out how to earn.. So one of two things have to happen.. Either the Europeans buy up the real estate with there inflated euro and try to run these properties at cash flow break even or half the dates for racing get eliminated and the industry downsizes to something that the betting base can support.. I view the latter as a huge positive

I was actually going to post the same thought yesterday and then compare horse racing as a business to retail. Look at what has happened to that industry over the last 10-15 years..Wards, Gold Circle, Service Merchandise, Clover, Venture, etc etc. All once viable businesses that went by the wayside as W-Mart, Target, Kohls etc beat them at their own game. It is an oversimplification, but if GP went away, would anyone notice in 5 years? Could that strengthen FLA racing/racing in general by making the other tracks more attractive and with better races, fields, purses? It sure seems to have worked in other industries.

[phystech]

And there's more news today in MD from Magna:

Frank has said he is not "...going to give a dime..." to back the pro-slots forces in MD. With the referendum language providing no guarantee of a slots license
for Laurel Park, Frankie doesn't want to play or pay.

http://www.baltimoresun.com/news/loc...,2196362.story

[freddymo]

It's simple if you are working in the industry (Racing) you want what your competition has (slots). I understand the basic concept that it is impossible to compete without a level playing ground. We should take heed in the truth which is the most successful meets Delmar and Saratoga do not require slots to be rewarding to all parties involved.

Slots can never save racing..the only thing that can save racing is good minds making hard choices about how much to race and when to race.. Magna or no Magna those decisions have to be implemented. Once they are nature can take its course and the sport can find a healthy foundation on which to potentially grow again. Having Preques Isle as the new hot bed for racing is comical. Mind you I am currently looking to claim something and race there I know in my heart the place is out of business in 10 years.