CDI has put Fair Grounds on the market

[DaTruth]

http://theadvocate.com/home/10255911...inc-seeking-to

[-BT-]

sad but not unexpected.

CDI is trying to liquidate all their holdings to just concentrate on Churchill, which is a one trick pony with the Derby and has no casino gambling on the grounds. The stock should take a hit.

Would love to see FG and AP be sold as a combo pack, two of my favorite tracks out there, been mismanaged for a while now


-bt-

[DaTruth]

Originally Posted by -BT-

sad but not unexpected.

CDI is trying to liquidate all their holdings to just concentrate on Churchill, which is a one trick pony with the Derby and has no casino gambling on the grounds. The stock should take a hit.

Would love to see FG and AP be sold as a combo pack, two of my favorite tracks out there, been mismanaged for a while now


-bt-

I'd prefer local or regional ownership for FG, as long as it isn't Tom Benson.

Last time CD sold a racetrack, it went to owners who didn't care for horse racing and ended up closing it on Dec 2013. Fair Grounds could have the same fate.

[letswastemoney]

They still technically own Calder and operate the casino there, so Churchill will not be their only property even if they don't run that racetrack anymore.

[DaTruth]

Originally Posted by helicopter11

Last time CD sold a racetrack, it went to owners who didn't care for horse racing and ended up closing it on Dec 2013. Fair Grounds could have the same fate.

FG's value is largely based upon the slots license, and without racing, there is no slots operation. Even if someone wanted to close FG and redevelop the property, they would run into all kinds of local regulatory hurdles, not to mention there are some bad neighborhoods to the north and east of the property.

Originally Posted by DaTruth

FG's value is largely based upon the slots license, and without racing, there is no slots operation. Even if someone wanted to close FG and redevelop the property, they would run into all kinds of local regulatory hurdles, not to mention there are some bad neighborhoods to the north and east of the property.

I hope you are right. However, Hollywood Park was located in one of the worst neighborhoods in the country and it also had a Casino which will still remain. Also, there are several Casinos in Louisiana that operate slots without racing.

[joeydb]

Any chance Frank Stronach will buy it?

[dellinger63]

Originally Posted by DaTruth

Even if someone wanted to close FG and redevelop the property, they would run into all kinds of local regulatory hurdles, not to mention there are some bad neighborhoods to the north and east of the property.

Unfortunately, Arlington Park is the opposite.

[Scav]

Originally Posted by helicopter11

Last time CD sold a racetrack, it went to owners who didn't care for horse racing and ended up closing it on Dec 2013. Fair Grounds could have the same fate.

The Fairgrounds isn't going anywhere. Louie Roussell is just gonna wait this out until Churchill isn't able to get a license because of their high and mighty attitude and he will buy it back from them. Hell, he still owns his own barn on the backside there that he rents out to people that can't get stalls

I wish Mr D was about 60 years old because he probably would just jump on both of them but with him being 90 or over 90, zero chance.

As someone said on the Paulick Report comments, Mr D living this long has really put a wrench into CDI's plans, and its no secret that most people feel the 2nd the old man is gone, AP won't look anything like it does now.

[DaTruth]

Originally Posted by helicopter11

Also, there are several Casinos in Louisiana that operate slots without racing.

When Louisiana first allowed slots in the 1990s, it was limited to a land-based casino in New Orleans and 15 riverboat casinos around the states. There was fierce competition for the 15 riverboat licenses, which led to Eddie DeBartolo losing the 49ers and a former Governor going to prison. The racetracks were later allowed to get in on the action, but they had to run a certain number of thoroughbred and quarter-horse racing days per years. So as the law stands now, a casino can exist at FG only as long as FG offers the required number of racing days.

[dellinger63]

Originally Posted by DaTruth

When Louisiana first allowed slots in the 1990s, it was limited to a land-based casino in New Orleans and 15 riverboat casinos around the states. There was fierce competition for the 15 riverboat licenses, which led to Eddie DeBartolo losing the 49ers and a former Governor going to prison.

It also brought about the battle royal dubbed 'The Battle of Trash with Cash' at a Morton's restaurant no less.

http://lubbockonline.com/stories/121...17010053.shtml

[ateamstupid]

$2.7 million purse cut due to LA Quarter Horse industry grabbing video poker money. LA Derby getting cut from $1M to $600k, FG Oaks from $500k to $300k.

[parsixfarms]

Sounds like Oaklawn could have a great meet in 2015.