Jaw Breaker wrote:
Joe Orr Road Rod wrote:
Arlington doesn't want a license. Doesn't bode well for the track's future.
They must figure the land is worth more if they bulldoze it?
I can't imagine how many more commercials the Score is going to sell to gambling-related services...they must be licking their chops.
CDI owns about 70% of Rivers Casino. There's really no reason for them to have two sports betting licenses since at least 75% of the action is going to be online. Also, at what point would slots at Arlington just be cannibalizing their business at Rivers?
If it were up to CDI the only racing they would have a hand in would be Kentucky Derby week. Running a racetrack is a royal pain in the ass. You have to deal with horsemen who complain a lot more than video poker machines. You also have to share the money with them.
The only reason a casino company owns a racetrack is because it was the only way they could operate a casino in that state. The business model is to pretend like you are partnering with horsemen to get the best bill passed that you can. Once you have these other gambling options legalized, you do everything possible to eliminate horse racing.
It usually doesn't take long for lawmakers to realize that the money that is going to the horsemen is just a form of welfare. There's a lot of political capital in pointing out that the $500,000 Chad Brown just took back to New York could have gone to schools. And CDI isn't going to argue with that assessment since they want the horses gone anyway. This is playing out in racing states across the country.
There are some exceptions. Jeff Gural and Frank Stronach are old guys who are racing fans the way Walt, OTE, and I are. But they're not going to live forever. And whoever comes next isn't likely to have the same passion for racing that they do. In Stronach's case he gave control of the company to his daughter and is now fighting her to get it back because it is becoming more obvious that she may want racing dead.
The Careys at Hawthorne may fall into a category with Gural and Stronach. Hawthorne is a family business and they have run it for many years. Unlike CDI that answers to shareholders and sees itself as a corporate entity that is in business to maximize profits, the Careys may see themselves as racing operators. That's probably the best case for Illinois racing. But if Arlington goes that will be hard to overcome. You'll know right away if the Careys are really interested in promoting racing rather than letting it wither so they can run a sportsbook/casino in peace because they will lower the takeout on all racing wagers.