SOLD! Remington (Chickasaws), Thistle (Harrah's) sales OK'd

[Kasept]

http://www.google.com/hostednews/ap/...oweEAD9ANULBG0

WILMINGTON, Del. — A Delaware bankruptcy judge on Tuesday approved the sale of two of Magna Entertainment Corp.'s horse racing tracks — Thistledown in Ohio and Remington Park in Oklahoma City — for a combined total of almost $170 million.

Judge Mary Walrath approved the results of a spirited auction on Monday that ended with a winning bid of $89.5 million for the Thistledown track near Cleveland from Harrah's Operating Co., a wholly owned subsidiary of Nevada-based casino giant Harrah's Entertainment Inc.

[NTamm1215]

This was also released by Lone Star today:

News Release
Contact: Dan Leary, Director of Communications
(972) 237-1140 cell - (469) 964-0663
danl@lonestarpark.com

GLOBAL GAMING LSP, LLC NAMED STALKING HORSE BIDDER IN LONE STAR PARK SALE

GRAND PRAIRE, Texas (Sept. 15, 2009) - Lone Star Park announced today that it has entered into an agreement with Global Gaming LSP, LLC of Ada, Okla., which is owned by the Chickasaw Nation, designating them as the stalking horse bidder in the sale of Lone Star Park at Grand Prairie. The terms of the agreement were not disclosed.

It is expected that the final auction for Lone Star Park will be conducted by mid-October in New York by Miller Buckfire & Co., MEC's financial advisor and investment banker.

As a stipulation of the agreement with Global Gaming LSP executed yesterday, Lone Star Park will operate under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware until the sale is completed.
Until the final closing on the sale of Lone Star Park, the track will continue to be operated by MEC.

"With this acceptance of a stalking horse bid, we can now move on to the next step in the process," said Lone Star Park President and General Manager Drew Shubeck. "We continue to operate our Post Time Pavilion for daily simulcasting and are busy making preparations for the start of our 2009 Fall Meeting of Champions on Sept. 25. Today we will attend the Texas Racing Commission meeting to obtain approval for our 2010 racing dates, and we are actively preparing our 2010 business plan."

The sale of Lone Star Park is subject to the approval of the Texas Racing Commission.
Live Amercan Quarter Horse racing returns to Lone Star Park on Friday, Sept. 25 with its 2009 Fall Meeting of Champions, which runs through Saturday, Nov. 28. For more information on Lone Star Park, visit LoneStarPark.com

- END -

Dan Leary
Director of Communications
Lone Star Park
w - (972) 237-1140
cell- (469) 964-0663

Sent by Dan Leary, best known as Bonnie the Bugler's husband.

NT

[freddymo]

Originally Posted by Kasept

http://www.google.com/hostednews/ap/...oweEAD9ANULBG0

WILMINGTON, Del. — A Delaware bankruptcy judge on Tuesday approved the sale of two of Magna Entertainment Corp.'s horse racing tracks — Thistledown in Ohio and Remington Park in Oklahoma City — for a combined total of almost $170 million.

Judge Mary Walrath approved the results of a spirited auction on Monday that ended with a winning bid of $89.5 million for the Thistledown track near Cleveland from Harrah's Operating Co., a wholly owned subsidiary of Nevada-based casino giant Harrah's Entertainment Inc.

Shiek Mo? he bought everything else?

[eajinabi]

Originally Posted by freddymo

Shiek Mo? he bought everything else?

A middle eastern owned track in the United States would be the revival for horse racing

[pmayjr]

Originally Posted by freddymo

Shiek Mo? he bought everything else?

No chance... he walks a fine line as it is being a pretty liberal muslim letting outsiders bet his track. But there's no on-track betting in Dubai. There's no way he could own a track and allowing betting on the premises as a part of his religion.

[Kasept]

Originally Posted by eajinabi

A middle eastern owned track in the United States would be the revival for horse racing

A new bizarre suggestion... Why would a Middle Eastern-owned track specifically trip a "revival for racing"?

And what exactly is a "revival for racing"? If players and fans just recognized the game as it is currently as more than good enough for our enjoyment, the ridiculous assertion that racing 'needs' reviving would disappear.

Stop caring that a certain segment of the populace isn't interested in the game. What validation does anyone need from people too vapid to understand racing or too ignorant to take up handicapping/wagering as a pastime?

[Gate Dancer]

Stop caring that a certain segment of the populace isn't interested in the game. What validation does anyone need from people too vapid to understand racing or too ignorant to take up handicapping/wagering as a pastime?

Amen to this part of the quote...............I have never ceased to be amazed by the lack of understanding of this game by non-horse gamblers. To think that you would be satisfied by playing a slot machine or a roll of the dice over trying to decipher the mystery of an individual horserace is ridiculous to me. You at least have the opportunity to make an informed decision in every situation rather than blind luck being your salvation. It takes hard work and diligence to find that nugget of gold in this game but nothing is more satifying. This has been a nice year for the game with some incredibly distinguished performers and performances. I understand the push to get more people involved with various promotions etc., but there is just no way certain segments of the population will ever embrace this sport.

[eajinabi]

Originally Posted by Kasept

A new bizarre suggestion... Why would a Middle Eastern-owned track specifically trip a "revival for racing"?

And what exactly is a "revival for racing"? If players and fans just recognized the game as it is currently as more than good enough for our enjoyment, the ridiculous assertion that racing 'needs' reviving would disappear.

Stop caring that a certain segment of the populace isn't interested in the game. What validation does anyone need from people too vapid to understand racing or too ignorant to take up handicapping/wagering as a pastime?

I really dont think that is a bizzare suggestion. If they can attract thousands of new spectators to thier new Meydan track in Dubai, then we can see what they can produce in the United States. People complain about short fields and crappy horses right? Why do owners/trainers send thier horses mid way around the world to compete in the Desert when easily those type of horses could be racing in the United States? Look how watered down the Big Cap has been in recent years. You cant deny how succesfull the Dubai World Cup has been for them.

As a gambler myself, I definetley want new fans to enter the game. why? I want dead money in the pool. 5 to 1, 6 to 1, shots today could easily be twice that if there are more dead money in the pool. I want people betting horses based on the name, color

To suggest for people to recognize the sport as it is is not that easy for the common folk to inhale. Why? Its hard to promote the sport when thier are way too many toilet tracks around the country. Quality of racing is poor and there is nothing interesting about betting or watching crap horses at crap tracks unless you are a degenerate gambler. There are 100s of race tracks and only 5-10 are worth going to or betting on. IMPROVE THE PRODUCT!

[Cannon Shell]

Originally Posted by Kasept

A new bizarre suggestion... Why would a Middle Eastern-owned track specifically trip a "revival for racing"?

And what exactly is a "revival for racing"? If players and fans just recognized the game as it is currently as more than good enough for our enjoyment, the ridiculous assertion that racing 'needs' reviving would disappear.

Stop caring that a certain segment of the populace isn't interested in the game. What validation does anyone need from people too vapid to understand racing or too ignorant to take up handicapping/wagering as a pastime?

There certainly is a lot of vapidity lately

[Cannon Shell]

Originally Posted by eajinabi

I really dont think that is a bizzare suggestion. If they can attract thousands of new spectators to thier new Meydan track in Dubai, then we can see what they can produce in the United States. People complain about short fields and crappy horses right? Why do owners/trainers send thier horses mid way around the world to compete in the Desert when easily those type of horses could be racing in the United States? Look how watered down the Big Cap has been in recent years. You cant deny how succesfull the Dubai World Cup has been for them.

As a gambler myself, I definetley want new fans to enter the game. why? I want dead money in the pool. 5 to 1, 6 to 1, shots today could easily be twice that if there are more dead money in the pool. I want people betting horses based on the name, color

To suggest for people to recognize the sport as it is is not that easy for the common folk to inhale. Why? Its hard to promote the sport when thier are way too many toilet tracks around the country. Quality of racing is poor and there is nothing interesting about betting or watching crap horses at crap tracks unless you are a degenerate gambler. There are 100s of race tracks and only 5-10 are worth going to or betting on. IMPROVE THE PRODUCT!

Think of the promotional possibilities?
Del Mar Burka Day!
Monmouth Prayer Rug day!
The Keeneland 100 Virgin's giveaway!

Originally Posted by Cannon Shell

Think of the promotional possibilities?
Del Mar Burka Day!
Monmouth Prayer Rug day!
The Keeneland 100 Virgin's giveaway!

100 virgins? Over my dead camel. 72 is plenty.

[Kasept]

Originally Posted by eajinabi

I really dont think that is a bizzare suggestion. If they can attract thousands of new spectators to thier new Meydan track in Dubai, then we can see what they can produce in the United States. People complain about short fields and crappy horses right? Why do owners/trainers send thier horses mid way around the world to compete in the Desert when easily those type of horses could be racing in the United States? Look how watered down the Big Cap has been in recent years. You cant deny how succesfull the Dubai World Cup has been for them.

As a gambler myself, I definetley want new fans to enter the game. why? I want dead money in the pool. 5 to 1, 6 to 1, shots today could easily be twice that if there are more dead money in the pool. I want people betting horses based on the name, color

To suggest for people to recognize the sport as it is is not that easy for the common folk to inhale. Why? Its hard to promote the sport when thier are way too many toilet tracks around the country. Quality of racing is poor and there is nothing interesting about betting or watching crap horses at crap tracks unless you are a degenerate gambler. There are 100s of race tracks and only 5-10 are worth going to or betting on. IMPROVE THE PRODUCT!

The Dubai World Cup is run by the ruling family for the ruling family's amusement. Is there serious competition for the entertainment dollar in Dubai? The Carnival runs for a handful of weeks one and two nights a week. They aren't luring spectators with clever marketing. And horsemen/owners come from around the world because of the purses. Middle-Easten ownership of North American tracks isn't going to magically transform the venues into hotbeds.

If you want to stick to 'better product' as a line of reasoning, that's cool. Many agree with you there. Less racing, with fuller fields of more competitive runners, is a definite formula for improved racing and renewed or wider player interest. But the last statement about '100's of tracks' and 'only 5-10 worth going to or betting on' is just wrong. There aren't 100's of tracks and even the "worst" track out there can likely have a fun atmosphere and great race day every once in a while.

[Cannon Shell]

Originally Posted by Coach Pants

100 virgins? Over my dead camel. 72 is plenty.

I was thinking 10 a race. There may not be 100 in Lexington though.

[PatCummings]

Originally Posted by Kasept

They aren't luring spectators with clever marketing.

Actually, Steve, they do. The Dubai Racing Club gives away money to the public through handicapping contests. Each night of racing, a certain amount of money is given away to those who pick the most winners in pick six or pick seven competitions, and also through several twin tricasts - where participants must select the winning trifecta in two consecutive races.

On Dubai World Cup night, the pick seven was not hit, but quite a few Pakistanis had 5 of 7 and took home a decent prize of several thousand dollars each. 4 of 7 paid as well. It is not against the law to offer a prize in this sense as long as the player is not staking anything. Entry forms are at the entrance points to the course, for which admission is also free (includes Dubai World Cup night too) - there is always a free public enclosure on course.

Overall, it increases interest and attendance in the sport considering that handicapping acumen can win you money...for nothing, essentially. Not a bad marketing tool to get people to care.

All that being said, I agree that there is no way interests from Dubai or similar would ever purchase an American track with pari-mutuel wagering.

[SOREHOOF]

Will someone please buy Hollywood Park and keep it a racetrack? Thank you.

[eajinabi]

Originally Posted by Kasept

The Dubai World Cup is run by the ruling family for the ruling family's amusement. Is there serious competition for the entertainment dollar in Dubai? The Carnival runs for a handful of weeks one and two nights a week. They aren't luring spectators with clever marketing. And horsemen/owners come from around the world because of the purses. Middle-Easten ownership of North American tracks isn't going to magically transform the venues into hotbeds.

If you want to stick to 'better product' as a line of reasoning, that's cool. Many agree with you there. Less racing, with fuller fields of more competitive runners, is a definite formula for improved racing and renewed or wider player interest. But the last statement about '100's of tracks' and 'only 5-10 worth going to or betting on' is just wrong. There aren't 100's of tracks and even the "worst" track out there can likely have a fun atmosphere and great race day every once in a while.

Dubai World Cup will only get bigger and better with the introduction of thier new Meydan Track. Do you realize that people at Nad Al Sheba who come to the track can not bet on the races?? Yet thousands and thousands come to watch. That is unheard of in the United States. Its not like the middle east is rich in horse racing tradition as compared to U.S. and Europe.

There is a reason MLB, NBA, and NFL dont set-up teams in small towns - Why? there is no market. Why does horse racing build tracks out in BFE?? There is a reason why your two biggest Racing venues are in New York and Los Angeles. No coincidence.

The "dont-care" approach is why horse racing is losing fans.

[Suffolk Shippers]

Originally Posted by eajinabi

Dubai World Cup will only get bigger and better with the introduction of thier new Meydan Track. Do you realize that people at Nad Al Sheba who come to the track can not bet on the races?? Yet thousands and thousands come to watch. That is unheard of in the United States. Its not like the middle east is rich in horse racing tradition as compared to U.S. and Europe.

There is a reason MLB, NBA, and NFL dont set-up teams in small towns - Why? there is no market. Why does horse racing build tracks out in BFE?? There is a reason why your two biggest Racing venues are in New York and Los Angeles. No coincidence.

The "dont-care" approach is why horse racing is losing fans.

Well, let's see...where to go with this? Suffolk Downs is in metro Boston, easily accessible by public transportation, yet does not do well and does not have a good product. Boston is not BFE, as you say. Woodbine, which is a pain to get to via Toronto metro, and is tough to get to in Toronto traffic, and is in an obscure part of town, miles outside the city has a good product, and does well. Location doesn't have a lot to do with it. If you have a good product, run cards wisely, and have a good business acumen you can do well.

Also, this whole stuff about Dubai, I'm going to guess Shekih Mo build his new palace with his own dime. What track owner you know could do the same? None. They'd all ask for public funding to foot part of the bill. Whole different dynamic. When your ruling family has unlimited sums of money you do as you please. Racing cannot answer to the American taxpayer.

When people get it out of their mind that racing needs a darling slot on ESPN, that they need a Triple Crown winner, that every track should be able to attract 30,000 a card then it will be better off. The NHL has ruined it's product and it's standing by trying to become a mainstream sport, so to speak, in getting away from it's niche status. Sure, some places can support hockey that hadn't before, like Dallas, North Carolina, etc. Mostly because they have successful, well run franchises. But, in the process, the game was moved out of Winnipeg, Quebec City, Hartford, Minnesota (it's back), and gone to die in Miami, Phoenix, and Atlanta.

Stick to your "less is more" stance, the whole revival thing is just garbage.

[Merlinsky]

Steve's right. I've given up trying to wish people into appreciating things that require mental energy. It just ends up making you depressed that it doesn't turn out as you'd wanted. I have Avalyn Hunter's American Classic Pedigrees and, yes, that's my idea of a good time. Well, one of them. Every now and again I get some hope, like when they made Seabiscuit, and now they're casting Secretariat (Diane Lane's Penny Chenery). I think there's a lot of muscle memory in our culture for a love of horse racing. One way to know that is they don't make movies about it if they don't think there'll be enough eyeballs to see them.

About seeing things improve in the sport, if Hialeah returns to its former glory, that, to me, would be cause for a party.

[Kasept]

Originally Posted by eajinabi

Dubai World Cup will only get bigger and better with the introduction of thier new Meydan Track. Do you realize that people at Nad Al Sheba who come to the track can not bet on the races?? Yet thousands and thousands come to watch. That is unheard of in the United States. Its not like the middle east is rich in horse racing tradition as compared to U.S. and Europe.

There is a reason MLB, NBA, and NFL dont set-up teams in small towns - Why? there is no market. Why does horse racing build tracks out in BFE?? There is a reason why your two biggest Racing venues are in New York and Los Angeles. No coincidence.

The "dont-care" approach is why horse racing is losing fans.

Oh boy. Where to start...

Really? They can't bet in Dubai? You're kidding... Who knew?

And "thousands and thousands come"... Unheard of in the United States! Guess you haven't been to a Kentucky Oaks/Derby... A Breeders' Cup... A Santa Anita Derby or Handicap Day... Or Smarty Jones' Belmont... Or Oaklawn... Or Saratoga...

The Middle East isn't rich in horse racing tradition... That's a revelation! Out of curiousity, those things that are called Arabians... Where did they come from exactly?

Racetracks are in every corner of the United States because it's America's original and oldest sport, and the far flung venues grew out of the original race gatherings that began in the 1800's.

[Kasept]

Originally Posted by PatCummings

Actually, Steve, they do. The Dubai Racing Club gives away money to the public through handicapping contests. Each night of racing, a certain amount of money is given away to those who pick the most winners in pick six or pick seven competitions, and also through several twin tricasts - where participants must select the winning trifecta in two consecutive races.

On Dubai World Cup night, the pick seven was not hit, but quite a few Pakistanis had 5 of 7 and took home a decent prize of several thousand dollars each. 4 of 7 paid as well. It is not against the law to offer a prize in this sense as long as the player is not staking anything. Entry forms are at the entrance points to the course, for which admission is also free (includes Dubai World Cup night too) - there is always a free public enclosure on course.

Overall, it increases interest and attendance in the sport considering that handicapping acumen can win you money...for nothing, essentially. Not a bad marketing tool to get people to care.

All that being said, I agree that there is no way interests from Dubai or similar would ever purchase an American track with pari-mutuel wagering.

Got it Pat... They run million dollar cards one and two nights a week over a two month period, maybe a dozen race days total, and the people show up for the free handicapping contest. That's what's filling the stands. No doubt.