HORSEPLOP.COM
General Category => Harness Racing => Topic started by: bond on October 31, 2018, 10:35:34 AM
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Not that anyone gives a shit about what I think-but here goes anyway.
I used to admire Gural when he first came on and "saved" NJ Racing. Was impressed by his desire to keep racing alive,improve the sport and even to clean it up -when the NJR Commission failed to do it.
Now-NJ Breeding Industry and racing hangs in the balance once again-with the State willing to place 100 MILLION into it over the next 5 years to encourage breeding and racing--something NJ needs and wants to help the farms and 100's maybe 1000's of participants.
Now everyone is on board to getting this money with one proviso-the State wants Gural to put some of the Sports Betting money into the pool-seeing that the money is coming from the very Racetrack Gural "Saved"
Gural so far-has refused-saying he wants ALL the profit from the Sports Betting to refund him the 80 MILLION the Meadowlands has cost him.
So Gural is willing to let the Industry to go down the shitter-so he can collect his money and probably even make profits-despite the fact that the 80 Million he said he is owed is BS as I personally know many Investors invested in the Meadowlands who will lose money-big money-if Gural sticks to his Guns.
The way he has run the show also leaves a lot to be desired-as by banning many trainers from competing at the Big M-Gural has weakened the NJ industry as these trainers are now at NY or PA-raking in the $$$ instead of NJ where they surely would have raced stock.
Breeding centers will close-and already places like Showplace are gone-thanks to bureaucratic BS and a corrupt NJ RC.
Bryce Cote has poisoned the waters-racing would be better without him and his BS-and the NJRC should be closed up permanently.
Gural now appears to me to be all for himself-and until he does the right thing by racing which he swore he would support-Im in the opposing camp.
Gural has become a dictator.
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THE MAN OF JEWISH FAITH IS A DECENT GUY
BUT VERY GREEDY
SELF SERVIN AND NEEDS CRYS ALOT
tmbz1
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Let's agree that his methods are tyrant and self centered. But, has everyone forgotten what the alternative was before he stopped the wrecking ball? Was anyone else in line to save the place? And not long after he took over restructuring purses to reflect the actual income horsemen ran and he couldn't fill a box. I know this bothers some people, but why is it always entitlement? He's in it for the money, ok he's a businessman. Yes he runs the place in a way people aren't used to, but in the end he really was the only guy who stepped up and got the job done when everyone said he couldn't. Is it possible Governor Christie was right? The place ran it's course living off state funding and time to stop continuing to support a business that can't support itself.
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Let's agree that his methods are tyrant and self centered. But, has everyone forgotten what the alternative was before he stopped the wrecking ball? Was anyone else in line to save the place? And not long after he took over restructuring purses to reflect the actual income horsemen ran and he couldn't fill a box. I know this bothers some people, but why is it always entitlement? He's in it for the money, ok he's a businessman. Yes he runs the place in a way people aren't used to, but in the end he really was the only guy who stepped up and got the job done when everyone said he couldn't. Is it possible Governor Christie was right? The place ran it's course living off state funding and time to stop continuing to support a business that can't support itself.
Good post and points-BUT he was NOT the only person who saved NJ racing--there were MANY Investors who chipped in big $$$ to help Gural in this quest. Among them some breeding farms-who stand to lose MILLIONS if Gural sticks to his Guns and takes the Sports Betting money for himself-as this does NOTHING to help to continue NJ Breeding and Sire Stakes programs-which NJ needs to compete and encourage racing.
If Gural takes the Sports Betting money for himself the farms go broke and NJ racing goes down the toilet-less horses to race no sire stakes no purse money to speak of-so Gural will be sitting in his Ivory Tower collecting Sports Betting Funds and the very sport he says he loves-goes down the shitter and 1000's of people lose jobs and SB Breeding farms turn into housing projects-with NJ not being a place any SB horse loving person would like to live in.
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Dont get me started on Christie-the FF.
What a hypocrite to deny Racing a meager 20 mill to help it along--then hand out BILLIONS to Atlantic City-with most of that money going into the pockets of a few wealthy individuals???? Those Billions Christie handed out was just a payback to get him/keep him into office. Did nothing to create jobs
did 0 to help New Jersey. Horse racing employs people,entertains people,keeps NJ green--a much better return of $$$ than to hand it to some fat cat in Atlantic City-robbing senior citizens of their social security-and making households all the more poorer.
I didnt like Christie then-even less now.
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Good post and points-BUT he was NOT the only person who saved NJ racing--there were MANY Investors who chipped in big $$$ to help Gural in this quest. Among them some breeding farms-who stand to lose MILLIONS if Gural sticks to his Guns and takes the Sports Betting money for himself-as this does NOTHING to help to continue NJ Breeding and Sire Stakes programs-which NJ needs to compete and encourage racing.
If Gural takes the Sports Betting money for himself the farms go broke and NJ racing goes down the toilet-less horses to race no sire stakes no purse money to speak of-so Gural will be sitting in his Ivory Tower collecting Sports Betting Funds and the very sport he says he loves-goes down the shitter and 1000's of people lose jobs and SB Breeding farms turn into housing projects-with NJ not being a place any SB horse loving person would like to live in.
I agree, no man is an island. But when the clock was reaching midnight he did spearhead the idea and was able to accomplish what many didn't think possible. Before he built the new grandstand he was able to keep the place going while his plan was being devised. Of course he had to reach out to investors, but unless they were all blind I think everyone saw the risk. The general public doesn't care that farms, vets, grooms, blacksmiths, etc. stand to lose their jobs and money. Anyone looking from the outside in sees a dying business that used funds to support it while others suffered. That was Christies point. Have his methods been "unorthodox"? Yes, but does anyone truly believe the end result we see as of today would be any different had it not been him? Be real, look around. Harness and T'bred too, horse racing is generally in decline up against more outlets for entertainment than ever before. You see it Hambo day, Pace day, Breeders Crown and down the line. Jug day a shadow of it's former self. Only real racing day exempt from the culture change is Derby day it's woven into us like baseball. But ask 10 people on the street what the Hambo is, you may get 1 or 2 who have an idea. The real problem isn't Gural or M1, it's been proven the sport can survive without the Meadowlands right now. Question is looking ten years down the road, what is being done in general to save what we will see in a decade. This blame game has to stop. If I was Gural, I'd close the damn doors and go home.
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I don't understand why NJ is the end all be all of racing ? Today -- in 2018
How significant is racing in NJ to the big picture ? Could big name races ( Hambo ) which has NO national following be moved to another track and still go for the same money ?
What is the breeding industry in NJ like the last few years ? Dead, plenty of places owners are putting their money in. Breeding farms have top quality studs in states not named New Jersey....
If Meds went away, would racing go on ? Hell Meds are racing today, and I wouldn't even know it if not topics come up on the plop...
Gural -- did he save racing in Jersey or was he gambling on a casino and saw the risk was worth taking. My opinion is that he was looking for the pot of gold at the end of the rainbow. And I have no problem with that.
Porbably never happen, but would love to see a MILE track built in a casino state and watch it become the a top betting attraction. I think that is the only thing the Meds offers to the customer -- it being a mile track.
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I don't understand why NJ is the end all be all of racing ? Today -- in 2018
How significant is racing in NJ to the big picture ? Could big name races ( Hambo ) which has NO national following be moved to another track and still go for the same money ?
What is the breeding industry in NJ like the last few years ? Dead, plenty of places owners are putting their money in. Breeding farms have top quality studs in states not named New Jersey....
If Meds went away, would racing go on ? Hell Meds are racing today, and I wouldn't even know it if not topics come up on the plop...
Gural -- did he save racing in Jersey or was he gambling on a casino and saw the risk was worth taking. My opinion is that he was looking for the pot of gold at the end of the rainbow. And I have no problem with that.
Porbably never happen, but would love to see a MILE track built in a casino state and watch it become the a top betting attraction. I think that is the only thing the Meds offers to the customer -- it being a mile track.
My point as well. The business can go on without M1. But it's an emotional thing, it was our Churchill Downs or old Yankee Stadium. Anyone around long enough remembers it as the place to be. Those days are gone and probably for good. He did the right thing downsizing, but without the right handle or another source of income "casino" what you see is what you get.
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Interesting thread.
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Why do the farms deserve a penny of sports betting money? What did they do to earn that? give me a break.
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Why do the farms deserve a penny of sports betting money? What did they do to earn that? give me a break.
Because Farms invested Millions to keep Meadowlands Open-which is where the Sports Betting Money is coming from.
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THE MAN OF JEWISH FAITH IS A DECENT GUY
BUT VERY GREEDY
SELF SERVIN AND NEEDS CRYS ALOT
tmbz1
Why bring up the subject he is Jewish, i wonder why
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Don't let facts get in the way. He has stated many times and just last week he will put in one million from profits if state gives him the 6 million. Clear as day.
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..."Because Farms invested Millions to keep Meadowlands Open"...
Farms invest millions to be competitive in the market. Farms invest in their products to be competitive in the Grand Circuit type events. Not The Meadowlands.
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Because Farms invested Millions to keep Meadowlands Open-which is where the Sports Betting Money is coming from.
Which is protecting their own interests. So drain the main resource, only reason horsemen buy from those farms is what is left of the stakes program in Jersey. Were they investing into The Meadowlands when it was a cash register? No, they made a profit. If they are truly looking out for their best interest doesn't it make sense to not take? I build a strip mall, do I take a cut from the pizzeria leasing space from me? That's not how business works. It's always, well without us. Exactly why the game is in a shambles.
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..."Because Farms invested Millions to keep Meadowlands Open"...
Farms invest millions to be competitive in the market. Farms invest in their products to be competitive in the Grand Circuit type events. Not The Meadowlands.
If that's true, then those mares and studs can be sent anywhere. Which is not a great chip to hold at the bargaining table. So think about that while sitting at the table pitching that approach. If you don't give us our cut, we can't sell babies to race elsewhere.
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Still behind Jeff, he has did a lot of good. Stick to your guns Jeff and things will work out.
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Still behind Jeff, he has did a lot of good. Stick to your guns Jeff and things will work out.
"has did" ? Gural has ONLY EVER been out for ONE person HIMSELF. About time more people see who he really is.
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Of course no response to the facts. Joke site
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Of course no response to the facts. Joke site
WHAT facts? Are those from CNN too? gural is a self centered asshole who wants to be god of harness racing. Loves to tell everyone what to do. AND how to do it. He doesn't care about harness racing. HE WANTS A CASINO. He got his sports betting palace. Piss on harness racing.
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the horsemen should put on races that are able to support the game,horsemen dont deserve any money from casinos or sports betting
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Because Farms invested Millions to keep Meadowlands Open-which is where the Sports Betting Money is coming from.
No they didn't. If they invested, they invested to make a profit for themselves.
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Did typewriters get a cut from Microsoft when the PC was taking over? Of course fucking not. That's not how the real world works.
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WHAT facts? Are those from CNN too? gural is a self centered asshole who wants to be god of harness racing. Loves to tell everyone what to do. AND how to do it. He doesn't care about harness racing. HE WANTS A CASINO. He got his sports betting palace. Piss on harness racing.
If he wants to be the GOD of harness racing....
Would he continue to run Tioga and Vernon harness meets IF his casino license wasn't tied to racing ?
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Not that anyone gives a shit about what I think-but here goes anyway.
I used to admire Gural when he first came on and "saved" NJ Racing. Was impressed by his desire to keep racing alive,improve the sport and even to clean it up -when the NJR Commission failed to do it.
Now-NJ Breeding Industry and racing hangs in the balance once again-with the State willing to place 100 MILLION into it over the next 5 years to encourage breeding and racing--something NJ needs and wants to help the farms and 100's maybe 1000's of participants.
Now everyone is on board to getting this money with one proviso-the State wants Gural to put some of the Sports Betting money into the pool-seeing that the money is coming from the very Racetrack Gural "Saved"
Gural so far-has refused-saying he wants ALL the profit from the Sports Betting to refund him the 80 MILLION the Meadowlands has cost him.
So Gural is willing to let the Industry to go down the shitter-so he can collect his money and probably even make profits-despite the fact that the 80 Million he said he is owed is BS as I personally know many Investors invested in the Meadowlands who will lose money-big money-if Gural sticks to his Guns.
The way he has run the show also leaves a lot to be desired-as by banning many trainers from competing at the Big M-Gural has weakened the NJ industry as these trainers are now at NY or PA-raking in the $$$ instead of NJ where they surely would have raced stock.
Breeding centers will close-and already places like Showplace are gone-thanks to bureaucratic BS and a corrupt NJ RC.
Bryce Cote has poisoned the waters-racing would be better without him and his BS-and the NJRC should be closed up permanently.
Gural now appears to me to be all for himself-and until he does the right thing by racing which he swore he would support-Im in the opposing camp.
Gural has become a dictator.
Just think if you would have listened many years ago. But like many, your head was up Gooofffrrraaallll's ass many times. Glad you woke up, MAYBE 11.wp 11.wp 11.wp 11.wp
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Im out for one person MYSELF also tmbz1 Thats all that matters 11.wp
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Just think if you would have listened many years ago. But like many, your head was up Gooofffrrraaallll's ass many times. Glad you woke up, MAYBE 11.wp 11.wp 11.wp 11.wp
CLICK YOUR HEELS AND REPEAT AFTER ME...
I ADMIT IT, HUSH WAS ALWAYS RIGHT
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Basically the horse game has a few people in it with real money the rest have everyday cash. Gural did step up because everyone else is broke no doubt. The place would still be shuttered no doubt. CC had had enough. Theres just no handle to support any of these tracks today even the meds. Do the costs from this weekend he made nothing . Sports betting separate entity. He doesnt have to co mingle the to of them . Jeff is also long in the tooth what happens if something happens to him? There is know one with pockets like he has in the game like him or not.
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Some on this site don't care about Facts!
They like to call Jeff names or make racist comments, Jeff isn't perfect & has made mistakes.
But who in the world hasnt made mistakes in their life.
ngc3 ngc3 ngc3 ngc3 ngc3 ngc3 ngc3 ngc3
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#1 He is running a business
Yes, Mildred ..u can try to make a profit...
#2 What the fuck does a track owners religion
have to be mentioned in the conversation....
When we refer to Tim Rooney....do we say he is Irish Catholic????
or Stronach.......a methodist?????
When we talk of Trump...do we mention his religion?
C'mon guys ..grow up.....
He is running a business and his funds are at risk....
he is looking to recoup his Investment..Perio d.
Just like Tim Rooney and Stronach.
Lets call a spade a spade....and cut the BS
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It’s time for decoupling
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It’s time for decoupling
Gooooffffrrrraaal llll was decoupled (aka gelded) when the NJSOA called and sold him a bill of goods many years ago. 11.wp 11.wp 11.wp
He is a disgrace, plain and simple 11.wp 11.wp 11.wp 11.wp 11.wp 11.wp 11.wp
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Some on this site don't care about Facts!
They like to call Jeff names or make racist comments, Jeff isn't perfect & has made mistakes.
But who in the world hasnt made mistakes in their life.
Gural -yes-hes done NJ racing a service-BUT he speaks with a forked tongue.
He has not helped racing improve at all-its there-but only because Gural's plan was to get a Casino-thats why he came in-the REAL reason.
Now he is the last to sign off on a bill that will allocate v badly needed funds-Govt does not want to grab ALL the profits from the Sports Betting-but Gural is holding up proceedings.
I fully endorse the fact that Gural should have some of his investment returned to him-but if he has to take a loss-so be it-blame CC the FF-Gural AND his investors will lose money-hes not the only one. The 20$ Million is to try to STIMULATE the breeding-have more horses to race-improve the product-that should be Gurals main thought IMHO.
I know there are a lot of haters on here-no idea why they read this forum-Im on the other side of the fence-I love horse racing along with 100's of others. Dont want to see it disappear. If it has to be subsidized so be it. Keeps people employed,NJ stays greener-and who knows one day it may get to be popular again once the bureaucrats get their act together. Racing is huge o;seas-survives on gambling-can be done here-but the v.v wrong people are in charge. Gural is one of these. Has the right thoughts-but bad ideas and listens to people who have no clue and ruin the sport.
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He has not helped racing improve at all-its there
Why is the onus on him to improve racing? Should a Double A minor league baseball team be forced to seek out Triple AAA status to make the players more valuable? Of course not.
I fully endorse the fact that Gural should have some of his investment returned to him-but if he has to take a loss-so be it-blame CC the FF-Gural AND his investors will lose money-hes not the only one.
Why should he be forced to take a loss? He took a risk that casino gambling was going to come to NJ and should be rewarded thusly. Who are you to suggest that Gural takes a loss to support other people?
The 20$ Million is to try to STIMULATE the breeding-have more horses to race-improve the product-that should be Gurals main thought IMHO.
Why should Gural be responsible for "improving the product?" Some of the highest handle racing is done in straight claimers there. Do those NJSS races even see any significant boost in handle? If not, then what does Gural have an interest in as a track owner? [/quote]
I love horse racing along with 100's of others. Dont want to see it disappear. If it has to be subsidized so be it.
I love lots of things. Doesn't mean I believe other people's money should be stolen to make those things stay in existence.
Keeps people employed
Fallacious. If the subsidies led to a net positive gain in employment, then the theory should go that an infinite amount of money could be invested to get unemployment down to zero. It's somewhat related to the Broken Windows Fallacy of economic stimulus. [/quote]
Racing is huge o;seas-survives on gambling-can be done here-but the v.v wrong people are in charge.
This is utter bullshit. It isn't just popular because the "right people are in charge". Among other things, it's ingrained culturally which it just isn't here.
Finally, I have not been a vocal supporter of Gural in the least. I don't like his attitude and hypocrisy, but when it comes to suggesting that someone's money should be stolen or taken away to fund someone else's losing business model, that's when I start seeing a big problem.
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So...what expert should be in charge of Racing in NJ?
where were they when the State was Closing Meadowlands?
Maybe NOwhere???
Gural did step up to the plate.....he risked his $$$$
I believe he is in the RED to this day......
While Meadowlands in nothing more than a mile Monti
it is there....No Gural NO Meadowlands...
then no thread.....
Like they said in the Movie "Rounders"
Pay Dee Man
He deserves a profit for his risk....
that just seems to be something u guys cannot wrap
your head around....
Does ANYONE actually RUN a business on this site????
or get a guaranteed paycheck, welfare etc....
If u run a business you can see....if not .....
Go back to sleep.....and pray for a Racing Messiah......
PS "The Messiah" we all worship ....is a JEW!
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Why is the onus on him to improve racing? Should a Double A minor league baseball team be forced to seek out Triple AAA status to make the players more valuable? Of course not.
BS point No1--its not on him to improve racing-but at least TRY--not run it down the shitter like he has been since in charge with his BS actions.
Why should he be forced to take a loss? He took a risk that casino gambling was going to come to NJ and should be rewarded thusly. Who are you to suggest that Gural takes a loss to support other people?
BS Point no 2--Everyone was happy Gural stepped up to the plate to take over racing promising to "make racing great again"-building a whole new stand etc etc--talk of a Casino later on down the road was to be the "icing on the cake"
Why should Gural be responsible for "improving the product?" Some of the highest handle racing is done in straight claimers there. Do those NJSS races even see any significant boost in handle? If not, then what does Gural have an interest in as a track owner?
I love lots of things. Doesn't mean I believe other people's money should be stolen to make those things stay in existence.
Fallacious. If the subsidies led to a net positive gain in employment, then the theory should go that an infinite amount of money could be invested to get unemployment down to zero. It's somewhat related to the Broken Windows Fallacy of economic stimulus.
BS Point no 3-Other peoples money stolen?? WTF. --Point is that Racing was to be the "cake" and Casino
the "icing" Truth is the other way around. The Casino was Gurals cake and racing the icing.If I buy a lottery ticket and dont win-can I take it back and get a refund?? Thats Gural--took a shot investing in possibility of having a Casino-didnt happen-so now wants his money back. Next point-IF he had not run racing down the shitter-thenhis profits would have been higher and had a chance to get back his investment--he lost there as well thanks to how he ran the operation and the people he employed.
This is utter bullshit. It isn't just popular because the "right people are in charge". Among other things, it's ingrained culturally which it just isn't here.
BS No 4--Totally wrong--I have pictures at home showing places like Yonkers,Roosevelt,Brandywine,Meadowlands-that were PACKED to the rafters with people--prizemoney higher than now-no slots. So now the "Culture" was never here so thats why we dont have any decent racing? No sir--racing has been run into the ground by mismanagement,corruption,political lynching,competition from other forms of gambling that were much better promoted,run.
You have your opinion and are entitled to it--Im just stating mine.
Finally, I have not been a vocal supporter of Gural in the least. I don't like his attitude and hypocrisy, but when it comes to suggesting that someone's money should be stolen or taken away to fund someone else's losing business model, that's when I start seeing a big problem.
Wrong-but not wasting my time.
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Gural did step up to the plate.....he risked his $$$$
I believe he is in the RED to this day......
While Meadowlands in nothing more than a mile Monti
it is there....No Gural NO Meadowlands...
then no thread.....
Like they said in the Movie "Rounders"
Pay Dee Man
He deserves a profit for his risk....
that just seems to be something u guys cannot wrap
your head around....
Does ANYONE actually RUN a business on this site????
or get a guaranteed paycheck, welfare etc....
If u run a business you can see....if not .....
Go back to sleep.....and pray for a Racing Messiah......
PS "The Messiah" we all worship ....is a JEW!
gural didn't risk HIS money in the meadowlands. HIS INVESTORS did. And I can assure you that those investors will be biting he bullet while gural counts his betting money. gural is ONLY out for gural. ANY statements about how he wants to help harness racing is an out and out LIE.
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Gural definitely Pro Harness......
like Tim Rooney.....
they owned and raced their own horses
They understand the game.....
both out to make a profit...
I remember Rooney telling the State and City ....
he will be CLOSING YR if he doesnot get slots...
They were racing $4k claimers for $2500...Purse
but u guys donot remember that cause Rooney was Christian.
Never heard a guy knock Rooney ....only Gural...
Business is business.......
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Bottom line no gural no Meds , its very simple . Know one else could even pay the electric bill on that place for a month.
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wow congrats to all
most of the comments are insightful and have a reasonable point to make with minimal name calling and other dribble that infects most threads
thanks for the background and history on what happened and the involvement of some of the breeding farms and also the casino/sports gambling side
thanks
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Found this on 1 of the investors:
January 20, 2012 14:35 ET
Clairvest to Invest in the Meadowlands Race Track
TORONTO, ONTARIO--(Marketwire - Jan. 20, 2012) - Clairvest Group Inc. (TSX:CVG) ("Clairvest"), Clairvest Equity Partners IV Limited Partnership and Clairvest Equity Partners IV-A Limited Partnership (collectively, "CEP IV") today announced a combined US$20-million commitment to invest in New Meadowlands Racetrack LLC ("Meadowlands"). The investment will be made by way of debt. Clairvest's portion of the commitment is US$5.4 million. The commitment also grants Clairvest and CEP IV warrants as well as future co-investment rights.
Meadowlands is North America's premier standardbred (AKA harness) horse racing track and is located in East Rutherford, New Jersey. Opened in 1976, the track hosts harness racing and is home of the Hambletonian, the preeminent race in the standardbred racing season.
Jeff Gural, Chairman of New Meadowlands Racetrack LLC said, "I look forward to working with Clairvest as we move forward with the new Meadowlands project. They have worked closely with me over the last few months and their expertise is important to our future success."
"The Clairvest team is thrilled by the future prospects of the Meadowlands. We are in a unique position to support the transformation of an iconic race track and we look forward to applying our expertise in the gaming space to help Meadowlands achieve its high operating potential", said Michael Wagman, Managing Director of Clairvest Group Inc.
"We are also proud to have a solid partner in this venture, whose involvement is very meaningful to the positive development of the track. Jeff Gural has been a successful horse breeder and owner/operator of two racinos in northern New York State. Jeff and his team have deep industry experience, devotion to the sport and unique vision for the race track. We could not have asked for a better partner" added Mr. Wagman.
Meadowlands will be Clairvest's 37th platform investment and the fifth investment by CEP IV. The Clairvest/CEP IV co-investment pool is capitalized at $467 million and focuses on equity investments in growth companies.
About Clairvest
Clairvest Group Inc. is a private equity management firm which invests its own capital, and that of third parties through the Clairvest Equity Partners limited partnerships, in businesses that have the potential to generate superior returns. In addition to providing financing, Clairvest contributes strategic expertise and execution ability to support the growth and development of its investee partners. Clairvest realizes value through investment returns and the eventual disposition of its investments.
CONTACT INFORMATION
Clairvest Group Inc.
Maria Klyuev
Director, Investor Relations and Marketing
(416) 925-9270
(416) 925-5753 (FAX)
Yes, but you will never hear Gural saying that others put up more money then he did. There are many investors that put money into the New Meadowlands & I believe Gural is not even close to being in the majority on the amount invested but all he ever says is "I" & "my" when he talks about who put up the doue.
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Yes, but you will never hear Gural saying that others put up more money then he did. There are many investors that put money into the New Meadowlands & I believe Gural is not even close to being in the majority on the amount invested but all he ever says is "I" & "my" when he talks about who put up the doue.
Do you understand the first thing about investing?
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gural didn't risk HIS money in the meadowlands. HIS INVESTORS did. And I can assure you that those investors will be biting he bullet while gural counts his betting money. gural is ONLY out for gural. ANY statements about how he wants to help harness racing is an out and out LIE.
What makes you think that? Debtors are the first to get paid and it seems like they had a very favorable agreement based upon the above press release.
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Do you understand the first thing about investing?
I'm guessing you don't think so.
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According to the 2018 Clairvest annual report:
Clairvest invested US$5.4 million in the Meadowlands in the form of secured convertible debentures with a stated interest rate of 15% per annum and an additional US$0.7 million in the form of preferred debt with a stated interest rate of 3% per annum. Clairvest also held warrants which entitle it to invest in equity securities subject to certain conditions.
15% , I wished they had asked me