Teresa took the Head Chef and I up to the roof on Sunday, and it's a stunning view of the track indeed. While we were there, she mentioned to me something about a comment left here regarding an article by James Odato in the Times Union detailing some fresh accusations regarding the integrity of Genting. So I checked it out when I got back to Queens, but it didn't really register, as fatigued as I was after driving through steady, and at times torrential, rain all the way home.
So I read it again in the morning.....and again later on.....and I'm still not totally getting it regarding what is termed in the article as "serious questions about the honesty of key officials with a Malaysian conglomerate." The charges are being raised by Joseph Bernstein, a former CEO of Empire Resorts, the parent company of Monticello in which a company related to Genting invested last year. The essence of the accusations is that two Genting officials, G. Michael "Mickey" Brown and "Colin" Au Fook Yew, installed on the board of Empire, breached their fiduciary responsibility to that publicly traded company.
The biggest violation, Bernstein said, was when Brown and Au became part of the Genting team that developed the winning Aqueduct bid.Yeah, must be quite a large number of New York City residents that makes its way from New York City, skipping right past the Empire City Casino at Yonkers, shunning the table games at Mt. Airy Lodge, to travel up to Monticello to play the slots; I'm so sure. Personally, I think the most suspicious thing about these two guys is the fact that they each have part of their names in quotation marks. You can never trust guys like that. Not to mention that Bernstein, who was fired last December, owns a million shares of Empire stock; a fact buried in the article by the reporter, who has an ongoing and clear agenda against NYRA and anything that might threaten to lift it out of its current mess.
Aqueduct's 4,525-machine racino, Bernstein said, will injure Empire Resorts' modest racino by sending New York City residents away from Empire's Sullivan County operation.
Not to say that Bernstein doesn't raise some points which may be legitimate from an aggrieved shareholder's view, particularly regarding the officers' efforts, or lack thereof they say, to maintain relations with the Mohawk tribe which recently announced that it would not proceed with a casino at Monticello. But the Aqueduct argument seems pretty weak. And besides, it involves the kind of conflict that an Albany lawmaker can fully relate to. I don't expect this to be any more of a threat to the racino than the lame AEG lawsuit (and what ever happened to the appeal?).
- Not a good Sunday and Monday for attendance at Saratoga, with just about 32,500 combined. That should really be the attendance for a Sunday alone. But NYRA spins and soldiers on, noting in a press release that while attendance is down more than 10%, all sources handle "remains steady" with a decline of 4.8% which is (just about) explained by a 3.3% decline in the number of races run over the same period.
Kantharos is undoubtedly the most exciting two-year old to this point after his dominant win in the short-field Saratoga Special....and aren't you really glad that Jess Jackson owns him? The owner paid $250,000 for this son of Lion Heart out of a Southern Halo mare who has dropped two other sprint stakes winners - Ikigai and Bonifacio. This colt, inbred to Mr. Prospector, Northern Dancer, and Hail to Reason, hails from the distaff family of the one-time hot two-year old First Samurai And gee, we wouldn't want to see Kantharos flame out at three like that one did, would we? And deprive ourselves of the spectacle of Jess Jackson owning a favorite for the Derby? First Samurai is standing at Claiborne for $30,000, down from $40,000 when he went to stud. He has four winners from his first crop, including the Schuylerville winner Le Mi Geaux.
11 Comments:
Seems to me that Jess Jackson never got over being screwed by the KY pinhookers. He still carries a chip on his shoulder despite the fact that his lawsuits against them were successful.
So, why doesn't Jerry Moss take a shot at Jackson by shipping Z east to the Spa? They all look for the easiest path to an Eclipse and HOY, avoiding all chances that their tigers will lose a big race.
Has NYRA given up trying to entice Moss to ship east? Why not give it another shot, what have you got to lose? Charlie could be on a plane today to make a quick visit and sales call on Moss & Shirreffs at Del Mar. /S/greenmtnpunter
Ozone Country,
just looking at this genting thing more - short term for NYRA especially NY Racing & NY community good, but long term 100% def' not good.
a US citizen in Malaysia - try even obtaining a work visa in Malaysia without a senior 'recognized' diploma or having to marry a Muslim whereby one must become one - as they can not, & 99% will not, convert outside, unless assured of long term financial secuirty for themselves &
that of their initially, direct family's - then their extended crowds apply.
Westerners - however a foreign businessman may invest a large amount in local real estate
or buy a local company but must hire 'a majority', of local muslim staff only - this applies
to most of the Malaysian federation.
Malaysian states - strict Malaysian muslim state policy's in this business sector have been -
no long term western stayers unless basically, they invest a bucket of money locally or as
tourists - being short term non threatening, spending visitors.
Au Fook Yew? Really?
Dirty.
Dirty, sounds like something you would say. Guess that's why they call him "Colin."
Anyone else think that Kantharos' official winning margin looked a bit generous? 7 1/4 lengths? Really?
The writer had it wrong in the article. Bernstein told the writer, "Fook Yew", when he was asked to comment on the merits of the Genting deal and why he was let go. At least Bernstein is not upset, as some other might be about getting the boot.
The writer had it wrong in the article. Bernstein told the writer, "Fook Yew", when he was asked to comment on the merits of the Genting deal and why he was let go. At least Bernstein is not upset, as some other might be about getting the boot.
Malaysian investors affiliated with Genting and G. Michael Brown have a storied history in the gaming industry. They have made boatloads of money together at Foxwoods in CT, and with the Senecas in NY. Aqueduct seems like a logical next step for this group. How long are the Cuomo & DiNapoli investigations expected to take before the deal is sealed?
Sorry to come in late here...
Dirty, thanks for bringing that name to my attention - it had gone right by me but it is a classic. Imagine moving to some other society and finding that your name is the punch line to a dirty joke!
As for Odato, Alan, you read him closely so maybe you're right, but, in this day and age, don't immediately presume an agenda. It may instead just be a willingness, even a feeling of duty that one must turn every story into a he-said-she-said because finding facts and the context is just too damned hard. You can't sell any papers if you don't raise any eyebrows.
Steve, would selling newspapers not be an agenda unto itself?
Figless - Alan wrote:
"...a fact buried in the article by the reporter, who has an ongoing and clear agenda against NYRA and anything that might threaten to lift it out of its current mess."
That's a different and unfair kind of agenda than selling papers, which one expects from those who work for newspapers.
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