Quote:
Originally Posted by Dawgswin
As a complete newbie I have to ask, what does Jacobs and his company gain from not running? Does he want to re-develop the site or something? That tends to be his with his other ventures....not the least of which was generous tax breaks in Cleveland that more or less went in his pocket for re-developing waterfront property.
But I'm sure that redevelopment benefitted the public far beyond what Jacobs received.  |
They have to run in order to simulcast which is where they make easy money. Supposedly they "lose money" during live racing. The trick is that tracks are now separating live racing from simulcast racing rather than including them as part of the same model. In effect they are saying that they want to run the shortest possible meet in order to maximize profits. Which is fine except they are partners with the horsemen in the state according to the state bylaws and commission and the horsemen want/need a far longer meet to make it economically feasible to run there. I guess what Jacobs is doing is playing chicken with the horsemen, assuming they'd eventually break and give him a far shorter meet than usual and perhaps he'd do the same again next year and perhaps make a plea to the commission to change the laws or develop this rival, lackey horsemans group.
It has always been considered a longshot for expanded gaming in VA though you'd have to think that has been in the back of Jacobs mind as well.
You see this more and more where tracks are trying to kill their own live racing so that they can close up shop, redevelop the property and still profit from simulcasting other jurisdictions races.