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Originally Posted by joeydb
Yeah I am a capitalist too, but all I am saying is that the worth of large parcels of land near large population is a very high bar for ANY business to reach.
I live near Philly, and if it wasn't bought by the Park Service, Independence Hall would have been replaced by a multistory office building a long time ago.
The thing that really caught my eye is that Bay Meadows is still, currently, a pile of uncleared rubble. It wasn't completed as a shopping district last I heard, and Steve just talked about that maybe a month and a half ago.
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We horse racing fans tend to overvalue our sport's impact on American Culture as a whole. Independence Hall? I would say the home of the Liberty Bell is a whole lot more important than the home of Lava Man.
You bring up an interesting point though about real estate. Why should horse racing be any different than any other business? Charlestown Races and Slots sits in Jefferson County West Virginia. It is about an hour and a half from Downtown Washington DC. It is a thriving operation. The fact is that the value is in the operation itself and not the land its on.
There will always be horse racing in California in one form or another. Popularity and demand will dictate the scope just like any other business. One of my favorite tracks in the country, Arlington Park, is not even 20 years old and a fire paved the way for one of the finest facilities in the country. Perhaps it will take the closing of some of these traditional venues to eventually pave the way for better venues.