12 September 2007

OLG Has A Decision To Make Regarding Fort Erie

Lottery Corp indecision endangers racing (in Fort Erie): Official
Ok, let me get this straight: Fort Erie wants an additional $4 million for purse accounts and $3 million for the track owner from the 80% OLG takes from the casino operations at Fort Erie. I can understand the $4 million for the purses, but why give the owner $3 million? That is just ridiculous. Give the horsemen 4-7 million but give the owner zero. Why would a company that is looking to invest $300 million need a handout from our government? The bottom line is Nordic is waving this smoke and mirror proposal just to make selling the track more attractive. I doubt Nordic is going to put another red cent into the track that it doesn't have to. I think there is nothing wrong with the government saving the jobs in the Fort Erie region, but for the life of me, I don't see why the owner should get anything other than their 10%.

Fort Erie now has until October 31st to submit dates for next year. I guess the August 31st deadline was extended.

Decisive action needed to save Fort Erie.

Famous handicapper Tom Ainslee aka Richard Carter dies at 89. What handicapper doesn't own Ainslee's Complete Guide To Thoroughbred Racing? Of course, I have always preferred Bill Quirin as handicapping's breakthrough guru.

Unbridled Song colt sells for 3.7 million at Keeneland


Anonymous said...

ya why give the owner anything at all they provide the facility and take the risk while the horseman benefit from a poor product, losing money is not an option.why should nordic?

Anonymous said...

If the owner (Nordic) can't make it on their 10%, they should sell the place. Stronach is doing that with tracks that are unprofitable or barely profitable. Owning a business is all about risk. When they were making $10-14 million a year from slots, they did nothing to try attract more racing fans.
I don't care if they break even or show a loss. Jobs aren't dependent on how Nordic does.
I believe they have no intention to put a dime into the $300 million smoke and mirror project.
If they can't make it on the 10% and their share of the betting revenue, they are in the wrong business.
Part of the reason the product is poor is because Nordic has done little to nothing when it comes to promoting the sport of horse racing. They don't give a rats ass about their product.
And I'm not talking management. It is hard to judge them because they have had their hands tied as their budget keeps getting lower every year.