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Wednesday, January 30, 2008

News and Notes - Jan 30

Hunch bets for Wednesday, January 30:

Smile N Wave Boys 8th at Delta Downs
That's A Given 5th at Aqueduct
In Command 7th at Aqueduct
Termsofengagement 7th at Charles Town
Legal Trouble 1st at Laurel
Where's Michael 4th at Turfway
I's Coming Home 5th at Charles Town
- It was a runaway in Florida, as Miami-Dade voters overwhelmingly approved slots at its three pari-mutuel facilities. Calder and the Flagler Dog Track kicked in $5 million for the campaign (Miami Jai-Alai I guess just went along for a free ride), and they are expected to see their investment pay off quickly.
Ryan Worst, a securities analyst at Brean Murray, Carret & Co. in New York, estimates Calder’s pre-tax net revenue from slot machines could be between $75 million and $100 million in the casino’s first full year. Harness track Isle Casino at Pompano Park is the only Broward County pari-mutuel facility with slots revenue on a faster pace.

CDI has had a Calder casino in “the planning stages” and now can start determining details, said Kevin Flanery, the company’s vice president for national public affairs. [Bloodhorse]
Calder is located not too far from Gulfstream, and why the former would flourish while the latter continues to struggle isn't clear; perhaps something to do with the competence, or lack thereof, of their respective managements?

- The IRS has reduced its claim against NYRA from the fanciful $1.6 billion to $15.2 million, but NYRA says they're still negotiating.
In an interview Monday, attorney Brian S. Rosen said "$15.2 million is a far cry from $1.6 billion," but "we reserve our right to object to that proof of claim. The parties are continuing to discuss the issues associated with it and hope to reach an agreement soon." [AP]

1 Comment:

JLDecker said...

I maintain that Gulfstream's problem (along with poor management and needless off-the-bat expenditures) is their location; namely their lack of anything nearby-- dining, lodging, or entertainment-- that isn't the Seminole Hard Rock.

Calder, while not that far from Gulfstream, stands to do well because it's in a better overall location: farther from the Hard Rock, and across the street from Dolphin/Marlins/insert-sport-here Stadium.