Racetrack Bids are Due Today
SARATOGA SPRINGS - Firms seeking the right to run Saratoga Race Course, Belmont Park and Aqueduct must submit revised plans to Gov. Eliot Spitzer's office today.
One of the firms - Capital Play Inc. - announced Monday that its bid for New York's racing franchise will include plans for a $30 million horse training facility in the Capital Region .
Australia-based Capital Play is one of three firms challenging New York Racing Association, whose current franchise expires Dec. 31, for the next 20-year contract. Excelsior Racing Associates and Empire Racing Associates are the others.
"There are a lot of trainers who would probably bring a lot more horses up here if they had stall space," said Hall of Fame jockey Steve Cauthen, who supports Capital Play's bid.
"I feel it's time for a change and Capital Play has a great service to offer," he said. "A lot of their ideas will spread around the country, not just here."
Once considered a long-shot to get the franchise, Capital Play strengthened its bid considerably by partnering with Connecticut casino operator Mohegan Sun, which would run video gaming at Aqueduct and Belmont, if machines are allowed there.
Capital Play has financial backing from Plainfield Assets Management and Canada's CIBC.
The firm has a roughly $1.8 billion business proposal that calls for $700 million worth of track improvements, $650 million at Belmont and Aqueduct and $50 million at Saratoga. CEO Karl O'Farrell said his firm would seek input from local civic and community leaders before making any changes in Saratoga.
"We've got some ideas, but we also want everyone to be happy about how it's spent," he said.
The horse training facility would have an artificial Polytrack surface, capacity for 500 horses and employ about 150 people, O'Farrell said.
"It would probably take about 300 acres and two to three years to build out," he said.
Plans call for making it year-round, weather permitting, while acknowledging that it might not be possible to train horses locally in December, January and February. A site has not been selected.
Spitzer's office urged each bidder to consider the possibility of joining forces with one of the other three entities. O'Farrell said Capital Play met with Empire to discuss ideas without creating a formal alliance. NYRA and Excelsior declined offers to meet with Capital Play, he said.
Capital Play's bid includes a $1 billion plan to build separate hotels at Belmont and Aqueduct, which O'Farrell said should be kept open. The firm hopes to market Aqueduct toward a younger crowd, while making Belmont attractive to a more mature clientele.
O'Farrell said about 5 million people visit Australia's racetracks each year, which represents about 25 percent of the country's population.
The firm's marketing strategy is geared toward young women, by making tracks a fun place to go. "Then, of course, men follow," he said.
