Suffolk's future may be on the line tomorrow.
http://www.nytimes.com/2013/11/04/us/end-of-casino-partnership-leaves-fate-of-east-boston-racetrack-in-doubt.html?nl=todaysheadlines&emc=edit_th_20131104&pagewanted=all
Wow what a mess! And I thought major confusion and conflict like that happened only in Kentucky! :headshake: Casinos were supposed to save racetracks but that's not how it's starting to look. :(
Quote from: jjacks1 on November 04, 2013, 05:02:04 PM
Wow what a mess! And I thought major confusion and conflict like that happened only in Kentucky! :headshake: Casinos were supposed to save racetracks but that's not how it's starting to look. :(
Actually, we're pretty good in the "confusion and conflict" department here in Illinois also! (Both regarding racetracks, and in general.)
Peeptoad needs to quit her day job and take over running the track. Seattle Jew can be her Marketing / PR Director. :chickendance:
Quote from: Vic in Chicago on November 04, 2013, 05:16:30 PM
Quote from: jjacks1 on November 04, 2013, 05:02:04 PM
Wow what a mess! And I thought major confusion and conflict like that happened only in Kentucky! :headshake: Casinos were supposed to save racetracks but that's not how it's starting to look. :(
Actually, we're pretty good in the "confusion and conflict" department here in Illinois also! (Both regarding racetracks, and in general.)
I lived in Chicago for awhile - y'all seemed pretty well organized. :) Also make some doggone powerful moonshine! ;)
Quote from: Zenyatta on November 04, 2013, 06:36:47 PM
Peeptoad needs to quit her day job and take over running the track. Seattle Jew can be her Marketing / PR Director. :chickendance:
Ha. Ha. I think I make more money at my day job. :o
Seriously, if I didn't live in Brookline I would be at some polling area supporting Suffolk right now.
The news is not good tonight for Suffolk. The track - and the proposed casino - straddle the line between East Boston (part of Boston) and Revere (a separate community). To move ahead, the proposal needed to be approved by the voters in both communities. Revere voters supported the project, but the voters in Eastie voted it down by a wide margin. The Suffolk Downs group is going to try to relocate the casino part of the project totally in Revere. But I suspect they're whistling in the dark, in the face of a competing proposal in the nearby community of Everett (backed by Steve Wynn) that earlier received strong voter support.
I'm afraid Suffolk's survival is in question.
http://www.boston.com/metrodesk/blogs/in-the-cards/2013/11/05/casino/kAfAFsb6QJJE1tmF2Y2umK/blog.html
Quote from: Vic in Chicago on November 05, 2013, 06:46:39 PM
The news is not good tonight for Suffolk. The track - and the proposed casino - straddle the line between East Boston (part of Boston) and Revere (a separate community). To move ahead, the proposal needed to be approved by the voters in both communities. Revere voters supported the project, but the voters in Eastie voted it down by a wide margin. The Suffolk Downs group is going to try to relocate the casino part of the project totally in Revere. But I suspect they're whistling in the dark, in the face of a competing proposal in the nearby community of Everett (backed by Steve Wynn) that earlier received strong voter support.
I'm afraid Suffolk's survival is in question.
http://www.boston.com/metrodesk/blogs/in-the-cards/2013/11/05/casino/kAfAFsb6QJJE1tmF2Y2umK/blog.html
If Suffolk goes under, well, LA hasn't had pro football for more than a decade, I think, and it is doing fine.
Lots of ailing racetracks everywhere you look.
Sadly that is true. It still hurts every time we lose one tho. :(
Quote from: jjacks1 on November 05, 2013, 08:49:15 PM
Sadly that is true. It still hurts every time we lose one tho. :(
Especially the only one that is a stone's throw from me... the next closest track is Saratoga. I was hoping this would pass, but it's not looking good. :(
I still can't get over how Ceasars Entertainment could just be that stupid. Now because of them Racing at Suffolk is in jeopardy.
I do think that Steve Wynn will come in very soon and solve the problem, his Casinos carry NO debt and are first class operations.
Cigarshop
Quote from: Cigarshop on November 07, 2013, 06:23:23 AM
I still can't get over how Ceasars Entertainment could just be that stupid. Now because of them Racing at Suffolk is in jeopardy.
I do think that Steve Wynn will come in very soon and solve the problem, his Casinos carry NO debt and are first class operations.
Cigarshop
Actually, Steve Wynn IS kind of the problem for Suffolk. He has teamed with the nearby community of Everett in a competing proposal to Suffolk's. And that proposal received strong approval by the voters in Everett.
Since the State will approval only one casino in Greater Boston, the Wynn/Everett proposal now clearly has the inside track.
Since the subject of Suffolk Downs and its proposed casino came up, there have been a huge number of twists and turns in the Massachusetts gaming picture, both pro and con for Suffolk. I'll spare you the gory details.
But just to summarize, their proposal is still alive. They have now partnered with Mohegan Sun, which operates a huge, successful casino in Connecticut, to replace Caesar's. And they have moved the entire casino project plan into neighboring Revere (but still on Suffolk's property), after the East Boston voters rejected it.
I wouldn't say I'm optimistic on Suffolk's chances, but I'm more hopeful that I was a couple weeks ago.
We need an emoticon for "cross your fingers".
http://www.boston.com/news/2013/12/02/revere-city-council-approves-resolution-supporting-casino-proposal/kGY5KuqZHBxAGv2Ef76dKM/story.html
Talk about the track with nine lives!
Despite a number of twists and turns and near-death experiences, Suffolk Downs in Boston still lives to fight another day (with their casino proposal)!
Go baby go!
http://www.boston.com/news/local/blogs/in-the-cards/2014/02/25/revere-says-yes-mohegan-sun-casino/dX3BkmYGWsQhOQifeEm7UK/blog.html
I'm not entirely convinced that Suffolk is out of the woods yet (so to speak)... will just have to wait and see what happens.
For example I am not sure exactly what this quote means... I am sure it's more complex than it appears in that article:
The track would be the casino's landlord under Mohegan Sun's proposal, and has pledged that if Mohegan Sun wins the license. it will use its lease proceeds to preserve racing at the last thoroughbred track in New England.
Sounds like what they had at Woodbine. They take part of the slot money and put it in
the purses. They also pay for the space they lease. In Woodbine's case they have ended giving
revenue from the slots and just pay them for leasing the space. I don't think it worked in
Woodbine's case i.e., taking the money and making horse racing a long term viable product
on its own. Why buy claiming horses when the purses were $40,000 (3) years ago and now
there $18,000? They all got out when the "getting was good!" As for why marketing managers
think they have a opportunity to lure "slot" players into horse racing is utter insanity. Its almost
as bad as when Andy Stronach spent 40 million inventing slot machines that bet on the races
WPS. They're two totally different type of gamblers and people.
But I hope your track does well as some of the smaller ones have. :celebrate:
DRF article on the subject:
http://www.drf.com/news/suffolk-downs-casino-referendum-passes (http://www.drf.com/news/suffolk-downs-casino-referendum-passes)