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Should There be A New Model for Track Onership?
3/14/2025
This past January the Stronach Group announced that supported decoupling racing from gambling in Florida Law. Along with that announcement came the reveal that they planning to get out of the live racing in south Florida shocked and sadden many racing fans and industry leaders. SO much of the area has been developed for snowbirds who enjoy racing and migrate there yearly. If Stronach’s plans and the law they are supporting becomes reality it appears that racing will cease in the 5-t0-10 years at Gulfstream Park. The property will likely be developed for its real estate value with an emphasize on casino gaming. For those of us fans that have spent many years at the old and new Gulfstream will feel the void of no racing at the Hallandale Beach property.
However, fans shouldn’t experience a martyr syndrome. We played a role. Attendance at racetracks has dwindled to life in the ADW fast lane. Fire up your laptop, pop an IPA and get ready to bet online. Supreme Court ruling that allowed the development of casinos in most states open a new form of legal gambling to racing fans. Of course, sports betting is not mandated. We still have a choice. But the marketing on sites like DraftKings have pulled many away with perk, free bets, and APPs. It is just easier to bet on the Super Bowl than a race. We are suggesting withdraw from sport betting, especially March Madness is coming.
Frank Angst, Editorial Director of the BloodHorse, addressed the reality in this dilemma in the March issue of his magazine. He understood the value in south Florida real Estate, especially ripe casino developable land. But it offered a different approach for consideration. As private owners of racetracks are enticed by the profitability of their property, decoupling racing from gambling can become a seductive idea.
The answer may be to look at the non-profit idea for racetracks. Maybe industry’s leading organizations should begin thinking about owning racetrack. It certainly aligns with their goal of supporting racing and breeding. Rather than depending on privately won tracks for support of aftercare for retired racehorses or funding for jockey welfare or increasing the fan base (like ThoroFan is missioned to do) they could do it themselves. Maybe an idea we should think about as we watch owners of racetracks abandoning us for greater profits elsewhere.
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