PHA cancelled..

[Cannon Shell]

Originally Posted by freddymo

Did you happen to read the CEO from Penn Nat's comments on racing? Now what?

Is he the one we should blame for the weather?

[freddymo]

Originally Posted by Cannon Shell

Is he the one we should blame for the weather?

Chuck did you read his statement to shareholders?

[Cannon Shell]

Originally Posted by freddymo

Chuck did you read his statement to shareholders?

This is news? He didn't say anything much different than Evans said to his shareholders either. When they ask to slash takeout in an attempt to make PM wagering more profitable that when you have to worry. Not that it isnt a good idea but that will be the first step in eliminating the tracks because they wont do it right or give it a real chance.

[freddymo]

Originally Posted by Cannon Shell

This is news? He didn't say anything much different than Evans said to his shareholders either. When they ask to slash takeout in an attempt to make PM wagering more profitable that when you have to worry. Not that it isnt a good idea but that will be the first step in eliminating the tracks because they wont do it right or give it a real chance.

You dont think takeout should be decreased?

[Cannon Shell]

Originally Posted by freddymo

You dont think takeout should be decreased?

Did you miss "not that this isnt a good idea"? Of course it should be decreased but what I am saying is that they will decrease takeout and use it as "evidence" that lowering takeout doesn't work. If you lower takeout at a track like Penn sure the handle will go up. It may double. But it will likely never get high enough for them to make enough money on the racing end to not want to get rid of the headache. They will say that yes decreasing the takeout did increase handle but not enough to allow racing to be "self sustaining".

[freddymo]

Originally Posted by Cannon Shell

Did you miss "not that this isnt a good idea"? Of course it should be decreased but what I am saying is that they will decrease takeout and use it as "evidence" that lowering takeout doesn't work. If you lower takeout at a track like Penn sure the handle will go up. It may double. But it will likely never get high enough for them to make enough money on the racing end to not want to get rid of the headache. They will say that yes decreasing the takeout did increase handle but not enough to allow racing to be "self sustaining".

So you are afraid the state is going to agree to lower takeouts witness a increase in handle and then abandon racing because Penn nat(whoever) tells them even with a lower takeout we cant afford the burden of racing?

[Cannon Shell]

Originally Posted by freddymo

So you are afraid the state is going to agree to lower takeouts witness a increase in handle and then abandon racing because Penn nat(whoever) tells them even with a lower takeout we cant afford the burden of racing?

I think that it will be a done deal before they do anything. Only the truly naive think that state or local govt aren't in the pockets of large corps like Penn National gaming. It may take a few years but he is setting the table for the future when the opportune time occurs.