This is a huge step in the right direction for the future of this track but success will hinge on getting Nordic Gaming out completely and forever.
Another source states...A new management team is to be implemented (approved by Nordic Gaming) as of July 1st, 2010.
As the track is to be leased from Nordic Gaming, not purchased.
Nordic has always and only been in this for lining the pockets of its absentee landlord.
That other source states..... The new owner's (Nordic Gaming) share of slot revenues peaked at $17 million in 2001.
It ran close to that for a least a few years I would guess until slots machines
became available on the American side of the border at Indian casinos and Buffalo and Batavia Downs.
I was there everyday racing horses from 1999 to 2004 and Nordic did not put one dime into the place not mandated by the Ontario Racing Commission.
There was no marketing to the US side of the border, except the slots.
So if Nordics expenses aren't covered by there 4 million a year share now, and now run a negative 3 million dollar balance on up keep alone, remember purses come from handle and a seperate 4 million from the slots.
for 4-5 years Nordic was taking ten million a year out and putting nothing back in. The slot machines are run by the province of Ontario.
As for the on location management, they had no interest in furthering the racing product. They also seem to have no idea and this astounds me that a bet placed on track, is so much more valuable to the bottom line than one brought in through simulcasting.
So the success of Fort Erie will not be assured until Nordic is out completely
|