NJ Casino Revenue for Tracks

[freddymo]

Your Funny Chuck...Obviously a few bad apples spoiled the barrel.

[SentToStud]

Casino subsidies/Slots = Welfare for bad horses.

These gaming companies look 10-20 years ahead and racetracks and horsemen cannot and take whatever they're offered.

If a track can't make it, it should shut down. If some people lose jobs, they'll find others. Why should racing be different than other industries?

[freddymo]

Originally Posted by SentToStud

Casino subsidies/Slots = Welfare for bad horses.

These gaming companies look 10-20 years ahead and racetracks and horsemen cannot and take whatever they're offered.

If a track can't make it, it should shut down. If some people lose jobs, they'll find others. Why should racing be different than other industries?

Dude you are worse then me

[The Indomitable DrugS]

I doubt he thinks everyone should be armed with firepower though.

[SentToStud]

Originally Posted by freddymo

Dude you are worse then me

The horsemen's groups are notorious for taking bad deals. These gaming corps may spend $50 mil to put in slots but they are paying it off in 30-50 years. And they set up deals with the horsemen for 3-4 years.

Mountaineer cut purses sharply. The same will happen everywhere else as the casino people hold all the cards and can look long term.

Sometimes it doesn't even take a year.

Pompano Harness put in slots a year ago. Purses went up and, surprisingly, so did handle. Last month they announced a 30% purse cut as well as a 20% reduction in racing days.

Slots are doing better than expected, netting $5,000,000 a month.

So why reduce annual purses from $12 Million to $6 Million? The Casino's answer was "because that is all we are required to do by law."