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General Category => Harness Racing => Topic started by: 1804 on May 29, 2018, 09:29:26 AM
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Empirecity Yonkers Raceway bought by MGM for $850 miliion
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https://www.lohud.com/story/news/politics/politics-on-the-hudson/2018/05/29/empire-city-casino-yonkers-raceway-sold-mgm/650573002/
What will happen to racing I wonder?
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Im just amazed the Rooneys were 245 MILLION in debt?? WTF?
"Operations include 5,000 slot machines, some restaurants and a full schedule of harness racing, which MGM executives said they intend to continue."
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Empirecity Yonkers Raceway bought by MGM for $850 miliion
850 million seems like a bargain. I think Rooney got robbed! place is a goldmine.
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THEY GOT THE JUMP ON THE CASINO BEFORE THE JERSEY BOYS DID. AGAIN, TALK OF MOVING AQUEDUCT AND YONKERS TO A BELMONT SUPER TRACK, OR WILL MGM JUST SAY FUCK IT AND PLAN ON DUMPING YONKERS RACING ALL TOGETHER?
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Also looks like they get an additional 50 Million if they get a full casino license by 2022
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Netting one half billion dollars from a place that had multi- million dollar red ink for many years, is not a bad deal. Don't forget all they pulled out in salaries and bonuses. As for the NYRA deal going forward, why would they. If MGM does not want to move forward with harness racing at Yonkers, they would need to find and build a track somewhere else, or not race at all. Then NYRA gets the only aset Yonkers holds, the "traditional harness nights". And, it cost them nothing.
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To answer the speculation of how MGM is most likely to address Yonkers Raceway component: How many racetracks does MGM own and operate?
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https://www.ctpost.com/business/article/Dan-Haar-MGM-to-buy-Empire-City-in-Yonkers-will-12950401.php
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i hope they can convince coumo that the racing is a waste of money at jonkers
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To answer the speculation of how MGM is most likely to address Yonkers Raceway component: How many racetracks does MGM own and operate?
Zero point zero
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Bigm short fields issue going to be solved by mgm tmbz1
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I still think the Yonkers meet will be run on a mile track at Belmont. Small clubhouse and grandstand with sports betting. Makes the most sense. They could use the mile training track.
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No need for a clubhouse or grandstand
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No need for a clubhouse or grandstand
Correct. 95% of the wagering is from home or another track.
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The Fat Lady sang. Last one out...
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Who is going to pay for this Yonkers at Belmont pipe deam? Not MGM. Not NYRA. Once MGM has a casino license, no more purse account.
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Serious gambling businesses like MGM don’t need or care about harness racing.....they want the other 99.9% of America.....it’s not that complicated
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i bet mgm is already trying to cut a deal to end racing and expand on to where the race track is
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I still think the Yonkers meet will be run on a mile track at Belmont. Small clubhouse and grandstand with sports betting. Makes the most sense. They could use the mile training track.
Why the fuck would Belmont ever agree to that?
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No need for a clubhouse or grandstand
well said
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What would be the benefit to NYRA? The only thing NYRA is interested in from Yonkers is their right to night racing.
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What would be the benefit to NYRA? The only thing NYRA is interested in from Yonkers is their right to night racing.
YOU CAN KISS THOSE 220+ NITES OF LIVE RACING A YEAR GOODBYE
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Seems like jeffie at M1 might inherit a windfall soon,
sports betting
all the racing and horses from YR
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Why the fuck would Belmont ever agree to that?
Belmont controlled by NYRA which means New York State
up to the governor and he wants Aqueduct and Yonkers racing at Belmont last I heard and expanded gaming at those entities to maximize profits and therefore maximize tax dollars
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Seems like jeffie at M1 might inherit a windfall soon,
sports betting
all the racing and horses from YR
soon?
transaction won't close for 6 months
Yonkers has a contract w/ horsemen and expanded gaming years away
not soon
sports betting won't raise purses much either at Meadowlands
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ONCE MGM REALIZES RACING IS A LOSING PROPOSITION ITS ALL OVER FOR RACING..
THE CONTRACT WITH THE HORSEMAN IS WITH YONKERS NOT MGM !!!
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ONCE MGM REALIZES RACING IS A LOSING PROPOSITION ITS ALL OVER FOR RACING..
THE CONTRACT WITH THE HORSEMAN IS WITH YONKERS NOT MGM !!!
MGM assumes all Yonkers contracts upon the sale, that's the way it works, all union contracts too
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soon?
transaction won't close for 6 months
Yonkers has a contract w/ horsemen and expanded gaming years away
not soon
sports betting won't raise purses much either at Meadowlands
Jeffie said he needs to get his money back before he even looks at sharing sports betting revenues with horsemen.
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Jeffie said he needs to get his money back before he even looks at sharing sports betting revenues with horsemen.
Not quite
"Contrary to the misunderstanding of an earlier published
statement,Jeff assured us that the New Jersey horsemen
would participate in any revenue that would be generated
from sports betting as a much needed addition to the
Meadowlands purse account"
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That was their interpretation. Watch the May 18 In The Sulky on Utube. I believe Jeffrey is not as definitive as the NJSBOA.
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That was their interpretation. Watch the May 18 In The Sulky on Utube. I believe Jeffrey is not as definitive as the NJSBOA.
FUCKING HORSEMEN HAVE THEIR GREEDY PAWS OUT ALREADY. THIS WILL END UP JUST LIKE WHEN THEY STARTED RECEIVING SLOTS REVENUE. THEY WONT TRY ONE FUCKING THING TO AT LEAST ATTEMPT TO MAKE THE SPORT SELF-SUFFICIENT.
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Wish MGM had bought the big m instead.They would have a full casino within 3 yrs.They also would fill in the swamp & build a couple more it would be AC north but their would actually be people gambling there.
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Yonkers is a fantastic location. Hey, MGM is investing 100 million more in Springfield, Massachusetts. Steve Wynn, until he got booted from his company, is investigating 2.3 billion in North Boston. The 850 will prove to be a bargain.
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the fall meet is the last for 2 years at Belmont. indoor stadium to house the nets and islanders to be built. lights to be installed to accommodate night thorobred racing and 1 turn harness racing while Saratoga meet will be expanded once again to go from, at least, the 4th of july to labor day
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FUCKING HORSEMEN HAVE THEIR GREEDY PAWS OUT ALREADY. THIS WILL END UP JUST LIKE WHEN THEY STARTED RECEIVING SLOTS REVENUE. THEY WONT TRY ONE FUCKING THING TO AT LEAST ATTEMPT TO MAKE THE SPORT SELF-SUFFICIENT.
As you see from the In The Sulky interview, 05/18/2018, Jeffery is convinced the only way the Meadowlands goes forward is to get $30,000,000 million a year from the state. He repeatedly mad this point as well as down played what if any part sports betting will play in the advancement of racing. He just repeated how he was personally invested in racing and will do what he can to support it.
Anyone interpret this interview differently?
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Is harness racing gone or....yonkers ?
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BELMONT RACES JUST 90 DAYS A YEAR!!! 365 - 90 = 275 days available!!!
The 54-day Belmont spring/summer meet begins April 27 and returns September 7 for the 36-day Fall Championship meet.
No. They use the training track for many months out of the year...
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No. They use the training track for many months out of the year...
No. You're wrong. Again.
The Yonkers-to-Belmont plan has the current 1 Mile training track expanded to 1&1/4 miles and a new 1 Mile harness track built inside that.
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No. You're wrong. Again.
The Yonkers-to-Belmont plan has the current 1 Mile training track expanded to 1&1/4 miles and a new 1 Mile harness track built inside that.
And "whose" plan is that. It will NEVER happen. I'll bet anything you want on that, chief.
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DRF: When does the current horsemen’s contract expire?
Joe Faraldo: 2019. Remember we are governed by many statutory
mandates re: racing and revenue streams.
DRF: What does the sale mean for racing at Yonkers and for
the horsemen?
JF: Racing will continue. Bank on it. Of all the possible suitors
MGM may be the best option for us. We will have to wait and see,
but I remain optimistic. Nothing is moving anywhere as of today
nor in the immediate future. All agreements remain in place
We are still working on NYRA (deal to move harness racing
from Yonkers to Belmont Park). No door is closed, but racing
continues at the Hilltop Oval.
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And "whose" plan is that. It will NEVER happen. I'll bet anything you want on that, chief.
You'll just redboard a phony winner.
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DOES HE REDBOARD????
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He's getting driving lessons in France
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Horsemen have no part in the actual sale, they have contracts to live by. So having Joe at the sale announcement was never necessary, I wish him well bringing more horses to the United states to help alleviate the "horse shortage"
Horsemen should just show up, shut up and race, and do what they are told, for a change
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This will be the perfect chance for Casino's to end slot welfare. MGM doesn't owe racing in NY a dam thing and with no contract pass 2019 there is NO incentive to keep 230 days of racing and how many MILLIONS that funnel and lost to the purse account. No need to bring back horses from France for the horse shortage. Getting rid of a number of racetracks slot welfare will disperse those horses to other racetracks and fill those fields.
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It's pretty sad you assclowns think harness racing is just going to disappear at Yonkers, MGM assumed a contract with the state of New York that says, no harness racing, no casino. And if you think that is just going to disappear you are full of shit and your ass cancer is spreading to your brains. I know all you losers hope that it goes bye bye because you are so jealous that horsemen make one hell of a living without your 2 dollar mind bets. So typical of horse gamblers to think they are important when the sport is doing quite well without any of you
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It's pretty sad you assclowns think harness racing is just going to disappear at Yonkers, MGM assumed a contract with the state of New York that says, no harness racing, no casino. And if you think that is just going to disappear you are full of shit and your ass cancer is spreading to your brains. I know all you losers hope that it goes bye bye because you are so jealous that horsemen make one hell of a living without your 2 dollar mind bets. So typical of horse gamblers to think they are important when the sport is doing quite well without any of you
Not trying to be negative but Governments change & contracts are not the be all that some think they are. Just ask those folks up in Ontario.
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A little flaw in your logic, Att'. MGM may be obliged to continue with the state contract that may state no racing, no racino but, MGM is not purchasing Yonkers for it's racino and business as usual, it is buying a positive cash flow company that is poised to be awarded a casino license come 2020, or about. If that happens, there will be no compelling reason for the state to give up 10 of net to NY SOA.
Can you now see why Joe was pitching his idea to NYRA at about the same time Rooney announced he hired a firm to explore his opportunities? Joe knows the gig is up and needs a new sandbox. The only real power in all of this maneuvering is the State. And, the state is clear in it's actions they are moving away from harness racing.
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Dump!
Close it all ready
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All you fools and losers keep hoping that racing disappears and we will keep hoping a
MS 13 gang comes across your mother, wife, or teenage daughter and has their way with them 11.mq Must have lost your 2 dollar mind bet and of course they stiffed yours and the winner was juiced to the gills. The state of New York isn't changing anything anythime soon, keep reading your weekly world news for your next update
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Read and learn from people who know things
https://harnessracingupdate.com/pdf/hru/hru060118.pdf?v2
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Nothing that has not already been said.
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Nothing that has not already been said.
And they are the facts, not some paranoid pipedreams from some minimum wage paycheck losing fools
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Att..I have been a standardbreds owner and breeder since 2009. I'm a realist and know owning and racing is a negative advantage unless you get real lucky across the way. I've owned a handful of good ones over the years and kept the mares to breed. But this is a failing business propped up by slots and only the ones at the top really survive and survive for a reason or two. Being a realistic and seeing all past failures the best thing for racing is to dump a lot of tracks. Slow the breeding even a bit more and have racetracks that will provide full competitive racing that having the funding to regulate the shit out of race day med's and out of competition testing. Or required 24 he detention before racing. I lost the thrill of losing to horses that only seem to suck air cutting a mile and keep going while others don't or can't. Then being a 2 dollar bettor and losing a wager. Agree with the one who posted...Just look at ON. Nothing is a 100% guarantee. May be Yonkers only gets 100 or 150 race dates and less money to pay for them?
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what has faroldo done to help yonkers?
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And just because you were a failure in the business, everyone else must be too. I know. no one is better than you, no one knows more than you. The business is full of shit people like you, glad you and your piss poor attitude hopefully are on the sideline because they all cheated and you didn't .
You losers should save your breath and admit, YOU are the failure, not the industry