Track privitization

joeydb · #1 10-05-2010, 06:55 AM

Let me ask an admittedly basic question:

Chris Christie says that he wants to get NJ government out of horse racing -- no subsidies.

Does that mean that he still would expect a privitized track to contribute the same amount in takeout minus operating costs to the state? Or are the profits also to be kept by private industry investors in such a plan?

If anyone finds details on what such a plan would mean, post it here please.

randallscott35 · #2 10-05-2010, 07:01 AM

A mature industry shouldn't need subsidies. This isn't solar energy here. If horse racing can't make it in NJ, it shouldn't be there. The same for anywhere.

Kasept · #3 10-05-2010, 07:16 AM

Quote:

Originally Posted by randallscott35

A mature industry shouldn't need subsidies. This isn't solar energy here. If horse racing can't make it in NJ, it shouldn't be there. The same for anywhere.

Awesome non sequitur...

randallscott35 · #4 10-05-2010, 07:43 AM

Quote:

Originally Posted by Kasept

Awesome non sequitur...

Tell me why the public tax payer should pay to build a stadium or lose 10s of millions as the NS Expo does? I'm nothing if not consistent. And your responses to me are old. Sorry you disagree all the time. But your smartass **** is tiresome.

Kasept · #5 10-05-2010, 10:47 AM

Quote:

Originally Posted by randallscott35

But your smartass **** is tiresome.

Coming from you? That's so great...!

randallscott35 · #6 10-05-2010, 10:50 AM

Quote:

Originally Posted by Kasept

Coming from you? That's so great...!

Harldy a smartass on here. Speak my mind. Give facts as opposed to fairy dust farts you offer.

Kasept · #7 10-05-2010, 07:19 AM

Quote:

Originally Posted by joeydb

Let me ask an admittedly basic question:

Chris Christie says that he wants to get NJ government out of horse racing -- no subsidies.

Does that mean that he still would expect a privitized track to contribute the same amount in takeout minus operating costs to the state? Or are the profits also to be kept by private industry investors in such a plan?

If anyone finds details on what such a plan would mean, post it here please.

Joey,

There's no plan as of yet. But even privitized, the entity running MTH, (NJ racing properties, et al..), are subject to the state's skim ('taxation') in the form of takeout. Remember that the state will still regulate the sport/run a racing commission, etc., and takeout funds that as well as other state coffer projects..

joeydb · #8 10-05-2010, 10:39 AM

Quote:

Originally Posted by Kasept

Joey,

There's no plan as of yet. But even privitized, the entity running MTH, (NJ racing properties, et al..), are subject to the state's skim ('taxation') in the form of takeout. Remember that the state will still regulate the sport/run a racing commission, etc., and takeout funds that as well as other state coffer projects..

Thanks Steve. That's about what I figured, but with all this talk of privitization being the only way to continue racing in NJ if the governor doesn't change his mind, I was wondering if the actual collection side for the state would change at all.

It might make a good incentive for a private firm if the skim was reduced so to allow more upside for the investors and possibly expand the field of bidders.

randallscott35 · #9 10-05-2010, 10:46 AM

Quote:

Originally Posted by HomerS

NJ racing has contributed far more to the states coffers then it has "lost" and its not even close.

Really, how about some specifics? The harness track is bleeding money like you wouldn't believe. They are losing 10s of millions a year. Where does that come from exactly? Better, the Meadowlands original stadium is still not paid off, including the Harness track. It was all part of the expo authority which has failed miserably.

Operating budget needs to = Revs coming in

randallscott35 · #10 10-05-2010, 11:01 AM

Quote:

Originally Posted by HomerS

Politicians rolled over the Meadowlands debt. Not the tracks.

Hell it was the tracks revenue that helped build the original Giants stadium to begin with

Read joeydb's post.

Drinking cool aid of south jersey politicians with vested interests in "protecting" the casinos not best way to get informed about this issue.

How much takeout do you think the tracks have created for the state since they opened?

NOW is the issue, not then. There used to be 25k at the Big M on a Wednesday in the 70's....That's not today. I live in the NOW.

jms62 · #11 10-05-2010, 11:33 AM

Quote:

Originally Posted by randallscott35

NOW is the issue, not then. There used to be 25k at the Big M on a Wednesday in the 70's....That's not today. I live in the NOW.

Dude.. People used to gather on the steps of the Stock Exchange to buy stocks too. If you live in the NOW then why do you not see that attendence at the track is meaningless due to the technological changes in wagering.

joeydb · #12 10-05-2010, 10:55 AM

Quote:

Originally Posted by HomerS

NJ racing has contributed far more to the states coffers then it has "lost" and its not even close.

True. In fact I saw an article yesterday on Paulick Report or Equidaily -- one of them -- that reported that NJ Racing only started losing money at all after 2007, when the surrounding states were getting slots at their tracks, and NJ tracks were forbidden to do so by the State government.

That was also the rationale of the "subsidy" from A.C. -- that the casinos would pay the tracks not to put in slots.

randallscott35 · #13 10-05-2010, 10:59 AM

How much more straightforward can this be?

“(The New Jersey Sports and Exposition Authority) is out of money,” Hanson said. “It’s not the role of the state to subsidize but to work with the private sector.”

I love horse racing. But why should horse racing not have to stand on its own? So a homeless shelter or early start programs for kids aren't funded? These are things Christie is proposing.

http://www.bloodhorse.com/horse-raci...mission-report

Kasept · #14 10-05-2010, 11:05 AM

Quote:

Originally Posted by randallscott35

How much more straightforward can this be?

“(The New Jersey Sports and Exposition Authority) is out of money,” Hanson said. “It’s not the role of the state to subsidize but to work with the private sector.”

I love horse racing. But why should horse racing not have to stand on its own? So a homeless shelter or early start programs for kids aren't funded? These are things Christie is proposing.

http://www.bloodhorse.com/horse-raci...mission-report

But it's OK for Trenton to subsidize the casinos for decades? That's OK?

Boosting racing interests via the casino skim has a positive influence on the state's economy that likely pays back the alleged subsidy.