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Originally Posted by blackthroatedwind
Geez, Eric, I never realized you were such a smart guy.
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LOL. Thanks Andy. I think you never realized it because I am always asking you for your opinion! LOL.
Anyway -- no offense everyone, but this has nothing to do with the prices of hotdogs and beer, or admission and parking for that matter.
Do not confuse cause and effect. Those elements would correct themselves if the larger, marcro-issues were addressed. I don't want to start another arguement here but the
sport and the
business around this sport has changed. It is not what it used to be 40 or 50 years ago. Some, all, or part of this has evolved into an entertainment environment. You know what's changed since then?
Everything.
There are parts of this that are evolutionary and there are other parts that are revolutionary. Now I know the old fashion, diehard, hard-core, etc. gambler types will absolutely despise this and what's going on in our industry -- but today's racing facility, the product, and numeorus other aspects of sport/business are without question competing with other mediums and environments for our dollars. You don't have to like it or deal with it but it is a fact. OTB, off-shore, internet wagering, the back room at the bar, etc. -- all of them are competition. The casinos, race books, and other forms of entertainment and gambling, whether pari-mutuel or not. The products may be different, but we are talking about gambling dollars, entertainment, costs, etc.
Many people do not like what Frank Stronach is doing down at Gulfstream. I've been there numerous times so I am not speaking absent of facts. Stronach is a visionary. You may hate the vision, but he has one. You may think he is inept at running a publicly traded company. You may think he is guilty of many things. But he is committed to the vision.
Sports bars, fine dining, cigar lounges, VLT's, shows, and other forms of entertainment. Retail, commercial, other real estate strucutures. This will bring people to a
facility. The
track will be there. Will they turn into fans? Will they turn into gamblers? Will they turn into regulars? Possible -- not probable; not to a significant extent or degree. That is not the only answer though.
But this, and the alternative forms of revenue will find its way into purses. It will trickle into other areas. There will be ancillary effects -- yes, both positive and negative -- in other aspects. This
should contribute and make progress toward more competitive fields and more competitive racing throughout a meet. This
could attract people to the business (ownership; although that's another aspect of the business that needs to be cleaned up). This
should lead to increased handle -- not just on-track handle however. Sure, there are several "shoulds" and "coulds" there -- but that is what's needed. A new paradigm. A paradigm shift in the way this sport and this business is looked at, operated, and run.
I don't mean to oversimplify the problems or the solutions. This ain't your mom and pop grocery store anymore. You can't run it like it is.
Eric