I will have to check with the fact checker for the 60 day statements, and if I am proven incorrect it will not be the first time. As remembered it was in the testimoney of the Global financial officer at the commission meeting and not Mr. Shubeck. I have to many irons in the fire to search at this time, but will make myself a note to search later.
It is apparent the gap between meets is the biggest problem as horsemen see it. We can only hope the class two tracks and the TRC follow through with the simulcasting efforts and days transfers. It is a shame the Texas Derby article is not clear and consise as to when the race would be expected to first run and that the directors in the article are trying to turn the bill into a slots funded measure which would keep the race from ever being funded!
Iowa, LA, and Ky passed ADW legislation this year! And Texas did not!
Texas Thoroughbred Forum
Moderators: Roguelet, hpkingjr, WaveMaster
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jrgators
- Starters Handicap
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Good morning everyone!
The first thing is the radio program went off well last night!!
I hope each of you listened, and if not, you can listen next Monday. The program will be on each Monday starting at 9PM CST
Thanks Roger for your last question. I agree with the logic, but this may not be the logic of the leadership of LSP. They would get out of the summertime competition with some of the bigger guys that's for sure! And we'd got out of the sweltering heat of central Texas on a July afternoon!
On a personal note....I'm headed back home to spend sometime with my mother. She's been in a battle with cancer, and it looks like she's loosing the battle. The cancer has spread, and they won't give her anymore chemo. It's tough, but I have great faith in God, and I'm blessed to have a job that I can take off and leave for a month. For those of you who believe in prayer, keep my family and I in your prayers!
Thanks,
Theo
The first thing is the radio program went off well last night!!
I hope each of you listened, and if not, you can listen next Monday. The program will be on each Monday starting at 9PM CST
Thanks Roger for your last question. I agree with the logic, but this may not be the logic of the leadership of LSP. They would get out of the summertime competition with some of the bigger guys that's for sure! And we'd got out of the sweltering heat of central Texas on a July afternoon!
On a personal note....I'm headed back home to spend sometime with my mother. She's been in a battle with cancer, and it looks like she's loosing the battle. The cancer has spread, and they won't give her anymore chemo. It's tough, but I have great faith in God, and I'm blessed to have a job that I can take off and leave for a month. For those of you who believe in prayer, keep my family and I in your prayers!
Thanks,
Theo
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keyranch
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Like I said, I have to many irons in the fire to dig this stuff back out. The fact checkers wanted to make sure I was not delusional and to see if Ajo would remove his inaccurate slights! Your fact checkers should have picked this up. Any dates less than 60 would be a cut from what was presented to the TRC and with the concern that Global executives have about their image as men of integrity, the only way they would consider less than their stated 60 is if the THP or TTA requested it!
It is hard to believe, but they come from a time and place where a handshake agreement still means something and their reputation is beyond approach! They do not build themselves up by tearing down those with opposing views and trying to destroy others reputation and bussiness. The folks at the OTA and OkHBPA show these folks a lot of respect for a reason and believe it or not they seam to be able to operate their associations with at a little higher standard.
Comments by John Elliott, the CEO of Global Gaming
Solutions from the transcript of the TXRC meeting on May 21.
Starting on page 67
24 MR. ELLIOTT: Yes, we are unequivocally
25 committed to keeping the track open. I think you've
68
seen that in the pro formas. We are
1 not standing here
2 being delusional as to what the financial needs of Lone
3 Star Park might be. I think you've also seen the
4 demonstration of that commitment already with the
5 numbers that were referred to that have already been
6 invested by us in Lone Star Park without holding the
7 license. And without the license, that money is
8 completely lost by us. I think you've also seen the
9 evidence of it at Remington Park.
10 CHAIRMAN PABLOS: Would you be willing to
11 make that a condition of the issuing of this license?
12 MR. ELLIOTT: I think we would be willing
13 to make it a condition of the license through the
14 period of which those forecasts have been presented to
15 the Commission.
16 CHAIRMAN PABLOS: That's what I was
17 asking. That's what I was asking. Thank you.
18 Commissioners, any other questions?
19 Commissioner Ederer?
20 COMMISSIONER EDERER: If I understand
21 what was just said, that you will -- you will commit to
22 keeping the track open for the next five years.
23 MR. ELLIOTT: Correct.
24 COMMISSIONER EDERER: No matter what
25 happens?
On Lone Star's profitability starting on page 69
20 MR. ELLIOTT: Let me comment on it.
21 First, Lone Star Park was originally built for a cost
22 approaching some 100 million. So today it has a net
23 book value of assets of some 50 million dollars. Lone
24 Star Park has historically been profitable. Lone Star
25 Park was even profitable at the time we entered into
70
1 the acquisition.
2 Our record at Remington Park demonstrates
3 we feel that we have some chance of improving the
4 performance at Lone Star Park. We also believe that
5 there are clear synergies that exist between Remington
6 Park and Lone Star Park that will benefit both track
7 operations. And finally, Lone Star Park is a
8 prestigious entertainment asset in a prestigious
9 entertainment location.
10 Those are the reasons that we believe the
11 investment is justified.
The pro formas are reviewed by the TXRC staff and reported to the commissioners in a memo from Director Trout dated April 28, 2011 which is included in the meeting materials for the above mentioned TXRC meeting. In this memo starting on page 16 the staff reviews attendance forecasts made by Global. The forecasts were made using the assumption of 86 days of live racing at LSP including 60 days TB and 26 days QH
It is hard to believe, but they come from a time and place where a handshake agreement still means something and their reputation is beyond approach! They do not build themselves up by tearing down those with opposing views and trying to destroy others reputation and bussiness. The folks at the OTA and OkHBPA show these folks a lot of respect for a reason and believe it or not they seam to be able to operate their associations with at a little higher standard.
Comments by John Elliott, the CEO of Global Gaming
Solutions from the transcript of the TXRC meeting on May 21.
Starting on page 67
24 MR. ELLIOTT: Yes, we are unequivocally
25 committed to keeping the track open. I think you've
68
seen that in the pro formas. We are
1 not standing here
2 being delusional as to what the financial needs of Lone
3 Star Park might be. I think you've also seen the
4 demonstration of that commitment already with the
5 numbers that were referred to that have already been
6 invested by us in Lone Star Park without holding the
7 license. And without the license, that money is
8 completely lost by us. I think you've also seen the
9 evidence of it at Remington Park.
10 CHAIRMAN PABLOS: Would you be willing to
11 make that a condition of the issuing of this license?
12 MR. ELLIOTT: I think we would be willing
13 to make it a condition of the license through the
14 period of which those forecasts have been presented to
15 the Commission.
16 CHAIRMAN PABLOS: That's what I was
17 asking. That's what I was asking. Thank you.
18 Commissioners, any other questions?
19 Commissioner Ederer?
20 COMMISSIONER EDERER: If I understand
21 what was just said, that you will -- you will commit to
22 keeping the track open for the next five years.
23 MR. ELLIOTT: Correct.
24 COMMISSIONER EDERER: No matter what
25 happens?
On Lone Star's profitability starting on page 69
20 MR. ELLIOTT: Let me comment on it.
21 First, Lone Star Park was originally built for a cost
22 approaching some 100 million. So today it has a net
23 book value of assets of some 50 million dollars. Lone
24 Star Park has historically been profitable. Lone Star
25 Park was even profitable at the time we entered into
70
1 the acquisition.
2 Our record at Remington Park demonstrates
3 we feel that we have some chance of improving the
4 performance at Lone Star Park. We also believe that
5 there are clear synergies that exist between Remington
6 Park and Lone Star Park that will benefit both track
7 operations. And finally, Lone Star Park is a
8 prestigious entertainment asset in a prestigious
9 entertainment location.
10 Those are the reasons that we believe the
11 investment is justified.
The pro formas are reviewed by the TXRC staff and reported to the commissioners in a memo from Director Trout dated April 28, 2011 which is included in the meeting materials for the above mentioned TXRC meeting. In this memo starting on page 16 the staff reviews attendance forecasts made by Global. The forecasts were made using the assumption of 86 days of live racing at LSP including 60 days TB and 26 days QH
A proforma is a projection, not a commitment. The Chickasaw Nation is being honest in its projections, and you shouldn't parse the benevolent intent of those who are proactively salvaging the Texas horseracing industry.
Meanwhile, this statement: "Any dates less than 60 would be a cut from what was presented to the TRC and with the concern that Global executives have about their image as men of integrity, the only way they would consider less than their stated 60 is if the THP or TTA requested it!" is a blatent libelous prevarication, and once again I ask you to put your shovel down, Joe, because no good is going to come out of this hole that you are digging. Not one line that you quoted above substantiates the allegation that there was a 60 day request or commitment. It simply states that the new owners are committed to keeping the the park open for five years. Whether you realize it or not, that really helps the horsemen of Texas, particularly those who actually race horses.
Meanwhile, this statement: "Any dates less than 60 would be a cut from what was presented to the TRC and with the concern that Global executives have about their image as men of integrity, the only way they would consider less than their stated 60 is if the THP or TTA requested it!" is a blatent libelous prevarication, and once again I ask you to put your shovel down, Joe, because no good is going to come out of this hole that you are digging. Not one line that you quoted above substantiates the allegation that there was a 60 day request or commitment. It simply states that the new owners are committed to keeping the the park open for five years. Whether you realize it or not, that really helps the horsemen of Texas, particularly those who actually race horses.
Old G2W may have been correct when he said that I would not break my 6yr's maiden. Folks, its just been too hot and humid to train horses in central Texas. It feels like 95 degrees at 7:00 am. Horses and old men are not made to work in that kind of heat.
Loving God, Loving People and Serving = Peace and Happiness
Try it you will like it.
Try it you will like it.
By golly, you're right, Rog. Old guys like us are supposed to eat Rice Krispies, not walk on them in our paddocks. They told me at the feedstore today that there'd be a deluge on July 22 (a 50 year repetition of history of some sort.) Hope they are right as rain, cuz I and my drought-ravaged fields and my hot critters are tired of barometric savagery.
Ajo wrote:By golly, you're right, Rog. Old guys like us are supposed to eat Rice Krispies, not walk on them in our paddocks. They told me at the feedstore today that there'd be a deluge on July 22 (a 50 year repetition of history of some sort.) Hope they are right as rain, cuz I and my drought-ravaged fields and my hot critters are tired of barometric savagery.
Are you saying its hot and dry in the hill country too?
Loving God, Loving People and Serving = Peace and Happiness
Try it you will like it.
Try it you will like it.
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keyranch
- Allowance Winner
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Ajo, the questions and acceptance of their application were based upon the projections they submitted! Your point is that it only counts if the information goes along with the THP Agenda! Should it not be to provide as much racing opportunity as possible, forgot about the 48% cut in race dates the TTA and THP supported, promoted, and still have not accepted resonsibility for!
I was just reading the new THP news letter and came across this from the TxRC
"The committee will welcome input on whether each racetrack’s proposed race meeting will serve to nurture, promote, develop, or improve the horse industry in Texas. Among the factors the Commission may consider are: the current condition of the association’s racetrack and facilities for patrons, race animals and occupational licensees; the anticipated effect of the proposed race meeting on the continuity of racing during the year; the live race dates requested by other associations licensed to conduct races for the same species of animal; the anticipated effect of the race meeting on the horse breeding industry in Texas; the anticipated effect of scheduled race meetings in neighboring race states on the proposed race meeting; and the anticipated availability of race animals for the race meetings.
The agenda for the Horse Race Dates Committee Meeting is available at www.txrc.state.tx.us. For more information regarding race date allocation, please email [email protected], or contact Bill Childs at (512) 833-6699."
"The committee will welcome input on whether each racetrack’s proposed race meeting will serve to nurture, promote, develop, or improve the horse industry in Texas. Among the factors the Commission may consider are: the current condition of the association’s racetrack and facilities for patrons, race animals and occupational licensees; the anticipated effect of the proposed race meeting on the continuity of racing during the year; the live race dates requested by other associations licensed to conduct races for the same species of animal; the anticipated effect of the race meeting on the horse breeding industry in Texas; the anticipated effect of scheduled race meetings in neighboring race states on the proposed race meeting; and the anticipated availability of race animals for the race meetings.
The agenda for the Horse Race Dates Committee Meeting is available at www.txrc.state.tx.us. For more information regarding race date allocation, please email [email protected], or contact Bill Childs at (512) 833-6699."
Loving God, Loving People and Serving = Peace and Happiness
Try it you will like it.
Try it you will like it.
More from the THP news letter
"Retama Ranked No. 4 on Best Horseplayer Track List
Retama Park has been ranked No. 4 by the Horseplayers Association of North America on its national “Track Ratings” list, making it that association’s highest-ranked track where Quarter Horse race and boosting it six places from last year.
Horseplayers Association of North America is a grassroots group of horseplayers not affiliated with any organization"
What can LS and SH learn from this?
"Retama Ranked No. 4 on Best Horseplayer Track List
Retama Park has been ranked No. 4 by the Horseplayers Association of North America on its national “Track Ratings” list, making it that association’s highest-ranked track where Quarter Horse race and boosting it six places from last year.
Horseplayers Association of North America is a grassroots group of horseplayers not affiliated with any organization"
What can LS and SH learn from this?
Loving God, Loving People and Serving = Peace and Happiness
Try it you will like it.
Try it you will like it.
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tinners way
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tinners way
- Allowance Winner
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- Joined: Fri Jan 13, 2006 1:48 pm
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tinners way
- Allowance Winner
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- Joined: Fri Jan 13, 2006 1:48 pm
The 60 days at Lone Star are in black and orange on the TRC website. Hard to understand 53 based on the transcripts.
Nationally, there are 34 T'breds entered tomorrow July 15, on July 9 there was 95. Simple math says that those additional 7 days of racing would be beneficial.
61 horses that either have left the state, sitting in stalls, or have been turned out based on Friday to Friday Based on 4 days of racing per week, and at best a horse races every two weeks, that would be at least 488 T'breds temporarily out of work.
Nationally, there are 34 T'breds entered tomorrow July 15, on July 9 there was 95. Simple math says that those additional 7 days of racing would be beneficial.
61 horses that either have left the state, sitting in stalls, or have been turned out based on Friday to Friday Based on 4 days of racing per week, and at best a horse races every two weeks, that would be at least 488 T'breds temporarily out of work.