19 December 2008

Rebate Shop Goes Bankrupt; Saga Of Fort Erie Continues

Hinsdale Greyhound Racing Association Bankruptcy Could Cost Account Bettors Close To Half A Million

Andy Beyer has over $20,000 in jeopardy at the New Hampshire rebate shop.
Nothing is safe in this economy. Interesting though, that one of racing's biggest icons publicly announces that he bets with rebates.

Hinsdale was shady to begin with:
Through December 13, Hinsdale has handled $22,250,089 in simulcast Thoroughbred wagers. That figure is down 34.8% from $34,136,602 during the same period last year.

Several of Hinsdale’s biggest bettors—including Bird—list Nevada addresses. Nevada residents are not permitted to wager through out-of-state ADW providers.


Paul Moran: The Fort Will Be Missed

Right now I'd have to say that the chances that Fort Erie opens in 2009 is still 75%.
It appears that Ajax will not be able to race thoroughbreds the way the track is right now.
A "B" track in Ontario (or a "C" track if you consider Woodbine to be a "B" track) is a must.


Horsemen at Fort Erie Race Track will hold a rally Sunday at 9 a.m., in an effort to try to save the track and the 190 jobs that were lost this week.

Close to two-thirds of the track's 300 employees have been issued layoff notices by owner Nordic Gaming, which says the track might not open for a new racing season this spring.

Permanent Solution Being Sought For Fort Erie

Getting a bigger cut from the OLG on the basis that Fort Erie is the only other race track and is a border town, is still being mentioned. So is the possibility of bringing legalized sports betting to Fort Erie to possibly draw Americans to the track.

There is still a question as to where the $2 million is that the government gave to the EDTC who allocated it to Nordic Gaming for the feasibility report having to do with the $300 million smoke and mirrors race track expansion project.
How much of it was spent? Where was it spent? And most importantly, what happened to the remaining money?

The Ontario HBPA is doing their best to prevent slots from opening at Fort Erie in 2009 without a commitment from Nordic that the racing season will go on.
Slots were put into Ontario race tracks to compliment and help the race track industry first and foremost. The opinion is NO RACING, NO SLOTS.
It is uncharted territory for a track with slots to close. What does that say about Nordic?

From the HBPA site:

Please find below Minister Smitherman & Minister Bryant’s address and email addresses.

We encourage you to write or email these two ministries with your personal impact statements on the closure of Fort Erie Racetrack.

Minister Michael Bryant
Minister of Economic Development
Hearst Block
4th Floor, 900 Bay Street
Toronto, Ontario M7A 2E1

Minister George Smitherman
Minister of Energy and Infrastructure
Hearst Block
4th Floors, 900 Bay Street
Toronto, Ontario M7A 2E1

Email: info@edt.gov.on.ca

The Province of Ontario has not said no yet. So, we all must continue to do all we can to SAVE FORT ERIE!


Sue Leslie
President, HBPA of Ontario

Ohio tracks resolve dispute
They've reached an agreement over account wagering distribution.

Charles Ruma, the president of Beulah Park who also negotiated for River Downs, agreed that both tracks will run the same number of days as this year - 122 for Beulah and 102 for River. The Ohio Racing Commission is scheduled to meet on Friday to finalize the dates.

How does Beulah Park and River Downs race so much without slots when Fort Erie is on suicide watch with slots and quite a few racing dates?

TVG sale expected in early 2009
A lot of speculation on who the buyer will be.

New York Steroid Ban To Begin January 1st

Maryland Racing Commission is concerned about Magna's ability to support and build slots at Laurel

Fred Pope Wants To Change The Interstate Horseracing Act
Good point. Those who sell lottery tickets only get a very small commission for selling tickets. The bulk of the monies goes to the ones who put on the lottery. When you bet at an ADW, it is the other way around. The ADW gets the bulk of the money while the track being bet on gets very little.
Of course, if Pope's ideas are implemented, Youbet might as well manufacture US cars.
And this doesn't bode well for the few rebate shops in the USA either, and if that is the case, it doesn't bode well for the industry either because more bettors will leave and handles will drop in a big way, although the race tracks and horsemen will make a lot more short term at the expense of ADWs.

Kentucky Bear Retires Due To Injury
Just what the North American breeding industry needs. A horse who raced only 5 times with 2 wins becoming a stud after his 3 year old campaign.
Sure, he was a fast horse with a ton of promise, but what is he bringing to the table? The likelihood that his babies will be fast two year olds who don't race past 3 due to injury. We have enough sires who have been screwing the thoroughbred gene pool for years, we don't need more.


Anonymous said...

On line account's are just as unsafe as on track,I have a online poker account with interpoker/wager logic system, i beat a guy in a session heads up table for $600 us dollars,but i got a message that it was being investigated ,that was sept 13th 2008 still my account is disabled and i have about $2000 us dollars in it,when ever i call they say they are investigating fraud issues with the other players credit card, wtf does that have to do with me,i feel lots of these online poker accounts will go under so beware, there is nothing we can do but get robbed .

Anonymous said...

Is that $2 million from the EDTC that Nordic got supposed to have been spent on this report mentioned here?


Did that report ever come out?

Anonymous said...

The $2 million was supposedly given to the EDTC sometime in the summer, and then forwarded to the race track to be used for a feasibility study for the project that Nordic postponed.
It is a mystery how and where the money was spent, and what is left of the 2 million and where the left over money is.
I linked the story about this in my previous blog post.