Track privitization

[randallscott35]

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]

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]

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.

[randallscott35]

Originally Posted by jms62

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.

Huh, handle is down about 10% year over year(national). And that's after a year over year decline last year.

[jms62]

Originally Posted by randallscott35

Huh, handle is down about 10% year over year(national). And that's after a year over year decline last year.

Did you account for the recession / depression we are now in?

[randallscott35]

Originally Posted by jms62

Did you account for the recession / depression we are now in?

YES!!!! Which is why I'm talking about ending subsidies in general, not specific to racing or any area.

[jms62]

Originally Posted by randallscott35

Huh, handle is down about 10% year over year(national). And that's after a year over year decline last year.

IT's really simple as I see it. Subsidy is a hot button word that people relate to bailing out the wall street gamblers. Mom and Pop want nothing to do with subsidies. Atlantic City didn't subsidize NJ racing.. It was a business agreement, a contract.. Atlantic City agreed to pay x million dollars if NJ didn't seek slots. NJ racing did what it was required to do to receive payment for services rendered. Now AC is calling that a subsidy in order to unite the masses against Horse Racing.. Christie is calling it a subsidy because his fat ass seems to be in bed with AC. AC no longer wants to enter in such a contract as they have the right to. NJ needs to get on the ballot, slots and sports betting at the racetracks so the industry can be competitive with neighboring states and save the BILLIONS of dollars of revenue that horse racing produces on track and off.

The racinos are a band-aid. When all of the tracks get them it will starve the smaller tracks that have them now.

What they need to do is add the racinos and legalize all drugs and prostitution but just let the tracks sell the drugs and whores.

That way the tracks can make money and still be horrendously incompetent.

[Cannon Shell]

Originally Posted by Coach Pants

What they need to do is add the racinos and legalize all drugs and prostitution but just let the tracks sell the drugs and whores.

That way the tracks can make money and still be horrendously incompetent.

If horseman can get disount prices, I am all for this.


Note i asked for a discount, not a subsidy

[alysheba4]

Originally Posted by Coach Pants

The racinos are a band-aid. When all of the tracks get them it will starve the smaller tracks that have them now.

What they need to do is add the racinos and legalize all drugs and prostitution but just let the tracks sell the drugs and whores.

That way the tracks can make money and still be horrendously incompetent.

........i need a $2 tri box and a blumpkin

[randallscott35]

Originally Posted by HomerS

And as a follow up, since we are talking about the "NOW" should all businesses facing hard times now be shut down?

This is public money. Horse racing can and should be able to survive without public money....We aren't talking about your garbage pick up and police force.

[philcski]

They're watching in Vegas, too:
http://www.gamingtoday.com/industry/...aryland_casino

[Cannon Shell]

Originally Posted by randallscott35

This is public money. Horse racing can and should be able to survive without public money....We aren't talking about your garbage pick up and police force.

Like automakers and banks?

[randallscott35]

Originally Posted by Cannon Shell

Like automakers and banks?

I was against that too big guy...but you might have people say "the financial system is more important than horse racing." The auto bailouts made no sense. Nor did the banking ones IMO.

[chucklestheclown]

Originally Posted by Cannon Shell

Like automakers and banks?

Yes. And so what if Randall's honesty is negative.
And, unless you are in England, it is "privAtization," in England, it is "privAtiSation." Thank you for your support.

[parsixfarms]

Originally Posted by randallscott35

This is public money. Horse racing can and should be able to survive without public money....We aren't talking about your garbage pick up and police force.

If government was simply OK with receiving income taxes on the thousands of people who work in the industry and taxes on items like admissions and concessions (where applicable), rather than acting as a parasite with parimutuel taxes, OTBs and the like, horse racing would probably be a self-sustaining, healthy industry. The problem isn't that government is getting too little from racing, it's that government is already getting too much. And now, when asked to give up a little of the excess that is is already receiving from the over-taxed industry, the politicians spin it into government "subsidizing" racing. Priceless!!

[randallscott35]

Originally Posted by parsixfarms

If government was simply OK with receiving income taxes on the thousands of people who work in the industry and taxes on items like admissions and concessions (where applicable), rather than acting as a parasite with parimutuel taxes, OTBs and the like, horse racing would probably be a self-sustaining, healthy industry. The problem isn't that government is getting too little from racing, it's that government is already getting too much. And now, when asked to give up a little of the excess that is is already receiving from the over-taxed industry, the politicians spin it into government "subsidizing" racing. Priceless!!

You are missing the point. Horse racing survives on gambling, not concessions or attendance...If every track needs VLTs than something is wrong with the business model. Of course it can be fixed. But don't expect government to be the one to fix it.