You don't have to be a fan of MEC, Stronach, Gulfstream or any other MEC asset to know that this is problematic for the entire industry. That's why like him/it or not, you almost have to "root" for success. Regardless, as we all know, the business model -- many of the business models -- in this industry is "broken" so to speak. If MEC gets rid of the fat, dead assets, etc. -- fast enough -- they can survive. If VLT's are going to be MEC's focus to make some of these tracks "profitable" then very simply -- maybe it will work, maybe it won't. This is a publicly traded company and maximizing value will always take precendent -- in this case over the racing fan and horsemen, LOL.
I think this is similar to the hospital industry -- both in business model(s) and life cycle(s). Look at the tracks that make money -- those with and without VLT's. Their business model is organic and has adapted. Sure, we can all aruge about concerts, enought seats for fans, racing taking a backseat, and so on. That is not part of the solution -- it's part of the problem. Alternative revenue sources are the simple answer; and VLT's are just one of alternative revenue source. There are several others.
This is also about "perspective" and which is working. Like I've said from the very beginning -- look at Woodbine. It works, both from a financial perspective and from a fan/horsemen perspective. On the other hand, Finger Lakes -- might be profitable, I don't know; but from a horseman perspective, to me, that doesn't work. I don't know what the future holds for Finger Lakes, and I like having that "outlet" for horses, however, I don't think it's working from fan/horsemen perspective.
Eric
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