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Friday, March 13, 2009

Slots Vision in Question

Paul Morose is in vintage form, at his gloomily eloquent best on writing about the current woes in the industry; he's right at home in this grim territory. I can almost discern a smile in that little scowling picture. Turning to the travesty here in New York, he notes that Governor Paterson's "visionary capacity is in question." That got me annoyed, though I don't know whether it's because I think it's another cheap shot at the governor's handicap, or because I wish I'd thought of it first.

I think we can just forget about that quick action on finding a new operator promised by the governor and Senate Majority Leader Malcolm Smith. It's a dead issue as far as the budget for the next fiscal year goes; in fact, E.J. McMahon, director of the Empire Center for New York State Policy, writes in the NY Post that the state will need to use cash from the federal stimulus money to plug the $370 million gap. So I don't see why there would be any urgency at least until after the March 31 budget deadline....and that's assuming that the budget comes in on time.

Assemblywoman Audrey Pheffer told the Queens Chronicle that “Delaware North was never our first choice."

“There were others that not only had a better working relationship with our community, but also had a more fiscally viable project. Delaware North was chosen for their promise to pay $370 million up front, and they have lost the deal because of their inability to live up to that commitment.” [Queens Chronicle]
Ms. Pheffer also said that she would like to see Paterson review the proposals of the losing bidders rather than stage a re-bidding process. I'd imagine however that those companies are going to want to review those proposals themselves in light of the present circumstances.

Jeffrey Hartmann, the COO of Mohegan Sun, reiterated his company's interest in re-bidding for the project. However, he told the Connecticut website that they have yet to decide whether they will again partner with Capital Play. So perhaps Karl O'Farrell was making assumpions, or speaking for himself when he said that his company was ready with the same offer as before.

Foxwoods president Gary Armentrout said that his company, which did not make the final cut first time around, would take a fresh look. But he issued a caution which is likely on any and all the bidders' minds:
Armentrout said it took New York officials nearly a year to consider bids the first time around, and noted that conditions in the credit markets and the overall financial climate have changed considerably since then. “Hopefully, the new RFP will take all of that into account,” he said. []
- "It's been a long time since I heard a speech like that," said the Rangers' Scott Gomez. "There were intense words," said Paul Mara. Both players were referring to an apparent tirade unleashed by coach John Tortorella after the team trailed Nashville 2-1 after the first period last night. Whatever he said, screamed, or threw, man, did it light a fire; I haven't seen the team skate with such ferocity and purpose in some time. The 4-2 win puts them back into a precarious playoff spot - for now - with 14 games to go.


El Angelo said...

Moran's ahead of Jeremy Plonk who endorsed using 17 of the 22 horses in the Future Wager in your exacta bets.

Anonymous said...

Don't worry, the Flyers will put the Broadway Blues out of their misery in this weekend's home and home.

Anonymous said...

Scott Lake files for bankruptcy.

Is this the canary in the mine?

Bank Check

DiscreetPicks said...

Fair Grounds - Race 9

#6 Be Me (8/1 ml)

Another just like the other. Margolis firster (again from the same owners as Knockout Bertie and Cash Refund) worked heads-up from the gate with Knockout Bertie and Northern Belle on Feb 16, and you saw what Knockout Bertie did yesterday. That's good enough for me. Also, whereas Knockout Bertie had worked heads-up with the hugely impressive debut winner Cash Refund back on Jan 19, Be Me had likewise done so on Jan 31. Here's hoping for a repeat performance.

DiscreetPicks said...

Just wanted to give you guys a heads-up on the Rebel entrant Captain Cherokee (8/1 ml). He's a half-brother to Midnight Lute who was very impressive at the Barrett's sale last year. Was well-supported in his Churchill debut before completely blowing the start, then made an impressive rush to challenge the leaders into the lane. Looked like he might pull it off regardless of the trouble, but understandably flattened out a bit through the stretch run. Resurfaced in a two turn race @ Fair Grounds early this year, and was completely in hand while stalking the leaders from the inside while pretty much buried in traffic. Made a sharp move coming off the turn to squeeze thru a very small opening along the rail (showing a ton of moxy in the process) and then opened up pretty much at will while not being asked for a lot of run. Didn't give any indication that extra distance will hurt him; quite the contrary. Also worth noting the second-place finisher that day (Fierce Thunder) returned to win by open lengths next time out. Captain Cherokee then met a pretty solid field in the allowance race over a sloppy surface, and dominated them as well. This horse has a good deal of talent, and should not be taken lightly at the big price. Also, it's probably not a coincidence that Asmussen has opted to take the Oaklawn route with him, as his sire (Sir Cherokee) won the Arkansas Derby for Asmussen some years back.

Anonymous said...

Morning coffee:

Capt Cherokee may go off second choice, wise guy horse. Saw him picked by two TV evanagelist prognosticators and now here.

I believe the hype, and certainly need a reason to open my wallet in a tough race to play, but think he will be an underlay. Fair value, I'm all in, as not sold on the favorite, yet.

Side note: LA Derby is a terrific betting race on paper, but no matter how I form my preliminary wager, this feeling that the IEAH/Dutrow consortium is going to ruin it all by betting a ton of money on Patena, who then will run off and win by ten blowing up my tickets. A little leery.

Scott Lake indeed may be the canary in the coal mine, but in truth he has not been doing so hot lately. His big owners have moved on to the newest super trainers, the usual outcome for these types.

Make no mistake though, there are a lot of owners and therefore their trainers struggling right now, especially the breeders who usually keep a few to run. They can not afford to keep any, which will directly impact trainers with that type of owner.

With foal crops declining, and a lot of cheaper horses being bought by overseas interests, there will be a long term shake out in the industry.

If you think fields are short this winter at The Big A, wait until 2013, assuming there is a Big A. You will be pining for the glory days of 2009 and it's ten horse NY Bred Maiden Claimer fields.

Power Cap said...

This project was approved in 2001. The government has done so much positive for themselves with the project. Each round of bidding brings new kickbacks, new suitors and more backroom deals. You have to give these guys all the credit in the world. They have milked this project for all it is worth. I am proud of them as we go on bidding process number three. Very few criminals would have the courage and staying power to milk something like this so many times and for so long.