Horsemen Close to Reopening Suffolk Downs
Feb 20, 2015 0:12:05 GMT -5
Post by Jon on Feb 20, 2015 0:12:05 GMT -5
Horsemen Close to Reopening Suffolk Downs
Bloodhorse
By Lynne Snierson
A deal that would allow horsemen to lease Suffolk Downs and operate a live racing meet in 2015 and 2016 appears to be close at hand, representatives said at a hearing of the Massachusetts Gaming Commission in Boston Feb.19.
"We've made good progress, but it's a complicated agreement, because it's not like a traditional purse agreement," said Chip Tuttle, Suffolk's chief operating officer. "What we're looking at is a two-year licensing agreement. It will require legislative changes as well and there is no guarantee that those changes would happen. It's very difficult because we're trying to make an agreement based upon multiple contingencies."
Suffolk's ownership announced in September it would end live racing as a consequence of the track’s gaming partner, Mohegan Sun, being passed over by the commission for the sole Boston area casino license. The New England affiliate of the Horsemen’s Benevolent and Protective Association later initiated talks to lease the track.
Suffolk’s ownership, while amenable to the idea, has insisted that the deal be economically viable.
“We have come to a meeting of the minds. We are very, very close,” said Lou Raffetto, the consultant to the NEHBPA. “But we need the legislature to pass the bill.”
The required legislative changes include an extension of Suffolk’s simulcasting rights, which are set to expire March 31, and a change to the state’s 2011 expanded gambling law. The modification would allow funds from the Race Horse Development Fund, which are dedicated to purses, to be tapped to partially cover operating and administrative costs.
Without those funds, the horsemen said they are about $3 million short.
Moreover, the clock is ticking. If the potential Suffolk meet is to open by the beginning of June, as suggested, horsemen will need to be informed of details on the number of race days and purse structure soon so they can make plans.
At this time, the NEHBPA can only narrow down the number of race days to between one and 50 days.
“It all comes down to the legislature passing that bill, and quickly,” Raffetto said.
Even if the deal is struck to restore live racing at Suffolk, it would only be a short-term fix, as the owners of the 80-year-old track still plan to develop the property.
As a remedy, the horsemen have formed the non-profit New England Horsemen’s Agricultural and Racing Cooperative. They hope to build a new state-of-the-art racetrack and equine facility in a different part of the state.
But they still would need those legislative changes, as well as approval from the gaming commission in order to proceed.
“This is more about 2017. There is light at the end of the tunnel,” Raffeto said. “We’re going to introduce our co-op bill in the legislature in the next few days. We want to assure the long-term viability of Thoroughbred racing in New England."
George Carney, who owns the Brockton Fairgrounds and holds two separate agricultural licenses to host live racing, has been granted licenses for two Thoroughbred fair meets of 15 days each in 2015.
At the hearing, he reiterated his offer to host the Thoroughbred horsemen for a year or two, until they could find a permanent place to race. But he added he has no intention of competing with a meet at Suffolk Downs
In related news, Democratic New Hampshire state Sen. Lou D’Allesandro introduced an expanded gambling bill Feb. 17, calling for the authorization of one large resort casino to be located in the southern tier of the state and one smaller one to be located elsewhere.
SB 113 is similar to the bill the senator brought forward last year. It had overwhelming bipartisan support in the Republican-controlled Senate, but failed in the Democrat-controlled House by one vote. The House is now in Republican hands with a wide majority.
Millennium Gaming of Las Vegas holds the option to purchase Rockingham Park, which has not hosted live Thoroughbred racing sine 2002, but only if an expanded gambling bill passes.
The company must then win the competitive bidding process to develop a casino at the track. Millennium officials have stated that the return of live racing would be part of the plans for a revitalized Rockingham. But a local developer has a purchase and sales agreement on 50 acres that comprise about 75% of the current stable area of the property.
Bloodhorse
By Lynne Snierson
A deal that would allow horsemen to lease Suffolk Downs and operate a live racing meet in 2015 and 2016 appears to be close at hand, representatives said at a hearing of the Massachusetts Gaming Commission in Boston Feb.19.
"We've made good progress, but it's a complicated agreement, because it's not like a traditional purse agreement," said Chip Tuttle, Suffolk's chief operating officer. "What we're looking at is a two-year licensing agreement. It will require legislative changes as well and there is no guarantee that those changes would happen. It's very difficult because we're trying to make an agreement based upon multiple contingencies."
Suffolk's ownership announced in September it would end live racing as a consequence of the track’s gaming partner, Mohegan Sun, being passed over by the commission for the sole Boston area casino license. The New England affiliate of the Horsemen’s Benevolent and Protective Association later initiated talks to lease the track.
Suffolk’s ownership, while amenable to the idea, has insisted that the deal be economically viable.
“We have come to a meeting of the minds. We are very, very close,” said Lou Raffetto, the consultant to the NEHBPA. “But we need the legislature to pass the bill.”
The required legislative changes include an extension of Suffolk’s simulcasting rights, which are set to expire March 31, and a change to the state’s 2011 expanded gambling law. The modification would allow funds from the Race Horse Development Fund, which are dedicated to purses, to be tapped to partially cover operating and administrative costs.
Without those funds, the horsemen said they are about $3 million short.
Moreover, the clock is ticking. If the potential Suffolk meet is to open by the beginning of June, as suggested, horsemen will need to be informed of details on the number of race days and purse structure soon so they can make plans.
At this time, the NEHBPA can only narrow down the number of race days to between one and 50 days.
“It all comes down to the legislature passing that bill, and quickly,” Raffetto said.
Even if the deal is struck to restore live racing at Suffolk, it would only be a short-term fix, as the owners of the 80-year-old track still plan to develop the property.
As a remedy, the horsemen have formed the non-profit New England Horsemen’s Agricultural and Racing Cooperative. They hope to build a new state-of-the-art racetrack and equine facility in a different part of the state.
But they still would need those legislative changes, as well as approval from the gaming commission in order to proceed.
“This is more about 2017. There is light at the end of the tunnel,” Raffeto said. “We’re going to introduce our co-op bill in the legislature in the next few days. We want to assure the long-term viability of Thoroughbred racing in New England."
George Carney, who owns the Brockton Fairgrounds and holds two separate agricultural licenses to host live racing, has been granted licenses for two Thoroughbred fair meets of 15 days each in 2015.
At the hearing, he reiterated his offer to host the Thoroughbred horsemen for a year or two, until they could find a permanent place to race. But he added he has no intention of competing with a meet at Suffolk Downs
In related news, Democratic New Hampshire state Sen. Lou D’Allesandro introduced an expanded gambling bill Feb. 17, calling for the authorization of one large resort casino to be located in the southern tier of the state and one smaller one to be located elsewhere.
SB 113 is similar to the bill the senator brought forward last year. It had overwhelming bipartisan support in the Republican-controlled Senate, but failed in the Democrat-controlled House by one vote. The House is now in Republican hands with a wide majority.
Millennium Gaming of Las Vegas holds the option to purchase Rockingham Park, which has not hosted live Thoroughbred racing sine 2002, but only if an expanded gambling bill passes.
The company must then win the competitive bidding process to develop a casino at the track. Millennium officials have stated that the return of live racing would be part of the plans for a revitalized Rockingham. But a local developer has a purchase and sales agreement on 50 acres that comprise about 75% of the current stable area of the property.
