Odds On Racing - Harness Racing

News from Around The Ovals

December 28, 2007

Minnesota Racing Approved
The Minnesota Racing Commission approved the 2008 racing dates for Running Aces Harness Park in Columbus Township. Running Aces will have its first harness racing season April 11-July 6, with races Fridays through Mondays until mid-June, when racing will be five nights per week. Post times are 3 p.m. Sundays; 6 p.m. on all other days.

Quarter Horse Racing Expands Florida Gaming
Quarter horse racing has not been relevant in Florida for decades. Now, developers are banking on the sport making a comeback in the sunshine state.

Two different development groups have applied for licenses to build race tracks for quarter horses. One of them has already received their license. The other is awaiting a decision.

Hamilton County has issued a license to Jacksonville developer Glenn Richards. He currently owns Hamilton Jai Alai. He plans on building Hamilton Downs, a quarter horse racing facility.

Currently there are no quarter horse racetracks in Florida. It has been nearly 20 years since this brand of horse racing was relevant. Three tracks exist for thoroughbreds in Florida, while Pompano Park in Broward County has harness racing.

Jefferson County is the location of the second proposed track. Former Gulfstream Park Racing and Casino executives Paul Micucci and David Romanik head the group looking to bring a track to the area.

The license in Jefferson County, if granted, would allow for quarter horse racing, a card room, and limited thoroughbred racing. A decision is expected soon on the status of the license application.

NYRA gets Thumbs Up from Creditors
The New York Racing Association said over the weekend that its creditors approved a plan for emerging from bankruptcy, putting the nonprofit agency one step closer to becoming solvent.

According to NYRA officials, about 97 percent of NYRA's private creditors approved the plan, submitted to the U.S. Bankruptcy Court for the Southern District of New York. The plan was OK'd ahead of a Dec. 27 hearing in which a federal judge is expected to review NYRA's reorganization plan and could possibly remove NYRA from Chapter 11 bankruptcy protection.
That plan is founded on the September agreement between Gov. Eliot Spitzer and NYRA officials that enables the racing association to retain control of New York's horse racing franchise for 30 years. The plan waives NYRA's debt to the state, which totals at least $100 million. Also, the state would give NYRA $75 million to help pay off creditors.

Senate Republicans have resisted Spitzer's plan, offering their own proposal that includes more oversight of NYRA and plans to install more video lottery terminals.

Closed-door negotiations are ongoing. Legislative leaders said recently that they expect to vote on a new plan early next month when the 2008 legislative session begins.

The Republican-controlled state Senate and Democratic-controlled state Assembly must approve any plan regarding the control of the state's horse racing franchise.

NYRA's current franchise expires Dec. 31. By law, control of Saratoga race track, Belmont Park and Aqueduct is turned over to the state Non-Profit Racing Oversight Board at that time.