The group International Racing Management wants bidders seeking Aqueduct’s gaming contract to present their plans publicly, giving fans and interested stakeholders a chance to provide input on a decision that could affect Thoroughbred racing for years to come.
Three entities recently submitted proposals to the state of New York and outlined plans to officials in closed-door sessions.
Aqueduct is slated to get 4,500 video lottery terminals, which are expected to generate more than $450-million per year, boosting purses at all three New York Racing Association tracks—Aqueduct, Belmont Park, and Saratoga Race Course.
“One often hears that 'racing is dead' [and] 'the only way to save racing is with slots.' The reality is, however, that we must change the racetrack/racino model,” IRM President Pam Stokes Donehower said in a letter to Governor David Paterson. “Proceed carefully. Do not just put slots in a box.”
IRM’s mission is to attract new owners and horsemen into the Thoroughbred industry.
“These [groups] bidding on the Aqueduct racino need to tell us how they would improve New York racing,” Donehower said. “It is not okay for developers to come in and try and turn our sport around and make it into something it is not. It seems we must force folks to shine the light on racing.”
However, it is doubtful that public presentations will be held because the state’s decision already is overdue and NYRA’s new 25-year franchise cannot become official until a gaming operator is named because of complexities involving NYRA’s bankruptcy proceedings and its future plan to lease tracks from the state.
In addition, the state loses an estimated $1-million each day that a VLT center is not operational. Construction, once an operator is named, is expected to take 12 to 14 months, meaning a facility probably would not open until late 2009.
The three entities seeking the gaming contract are:
* Capital Play Inc. and its partners Mohegan Sun casino of Connecticut, Plainfield Asset Management, and Extell Development;
* Delaware North Companies, which has partnered with Saratoga Harness Racing Inc., the owner of Saratoga Gaming & Raceway. Delaware North runs the local harness track’s VLTs; and
* New York-based SL Green Realty Trust and Hard Rock Entertainment.
The bid deadline for the gaming operation was April 25. Five days later, the groups made presentations to staff for Paterson, Senate Majority Leader Joseph L. Bruno and Assembly Speaker Sheldon Silver in private sessions.
Both Bruno and Paterson have indicated that a decision should be made in the next couple of weeks.
Paul Post is a New York-based Thoroughbred Times corrrespondent...
