Gulf Stream slots lose money

[phystech]

I hope the MD General Assembly comes to their senses and allows for an auction of slots licenses in MD instead of just giving one to Magna - assuming the creeps are even capable of passing a slots bill.

Word from Frank yesterday on the first day of hearings on the new bill submitted by Gov O'Taxey (D) is that he's going to have to shut down Pimlico if he doesn't get slots.

When you consider the giveaway to Joe DeFrancis he agreed to when he first bought part of MJC, there's almost no way he can make any money for Magna. I think I've read he will have to give 65% of net profits from slots revenue to Joe and his band of thieves for the first five years slots are in place.

When you make deals like that, it's no wonder Frank's other racing assets are going down the tubes.