Future of Horse Racing in Alberta and other Sundre Ramblings
Phil’s Reprising:
Future of Horse Racing in Alberta
Dr. David Reid
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Future of Horse Racing in Alberta
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Future of Horse Racing in Alberta – PDF
Phil has a question:
How did we get to the Mess we’re in today.
How do you go about solving the problems in the horse race industry in Alberta without identifying the problems.
In 2020 is there a future for horse racing in Alberta.
We cannot solve our problems with the same thinking we used when we created them.
Albert Einstein.
When we replace a sense of service and gratitude with a sense of entitlement and expectation, we quickly see the demise of our relationships, society, and economy.
Steve Maraboli
If you’re entitled, you likely think you know more than you do.
For quick serves like Saladworks to survive and thrive after bankruptcy, they must develop a strategy to address the root causes that got it there in the first place, says Jesse York, a director at Conway MacKenzie, a national financial services firm.
York, who focuses on restructuring companies, says that if used correctly, bankruptcy can be a strategic tool in executing a turnaround plan that makes the company a healthier organization. However, many companies do not prepare properly or follow through.
QSR – O’Brien – The Chapter After Chapter 11
Phil has a question:
If you’re not going to learn from it why bother to make a mistake in the first Place.
Paulick Report – New Ruidoso Announcer Dimoff Tunes Up In Schooling Races
Horse Racing Alberta – Two Public Board Member Positions
Representatives from Horse Racing Alberta, ACTRA, AQHRA, ASHA, HBPA, Century Casinos, Evergreen Park, Rocky Mountain Turf Club, and the Track on 2 held their weekly conference call this afternoon.
The proposals to reintroduce racing are making their way through government channels. Horse Racing Alberta has requested a response by May 15 and continues to advocate on behalf of all stakeholders to work towards summer race meets.
Resumption of racing will require coordination from Horse Racing Alberta, horsemen’s organizations, and the racetracks. Alberta Health Services will need to give approval to the racetracks, new race dates and drug testing logistics will need to be approved by Canadian Pari-Mutuel Agency, Stewards and Judges will need to be returned to work by Horse Racing Alberta, qualifying races for Standardbreds will need to be scheduled, and purse level and stakes races will need to be approved by all of the horsemen’s associations.
Racetrack management teams have been working to prepare plans for re-opening racing without spectators. Implementing enhanced safety protocols and ramping up staff levels will be priorities for all racetracks. They are also identifying all of the necessary precautions that need to be in place to open their restaurant and OTB areas. Century Casinos is working diligently with their Off-Track Betting network so they can open as soon as possible. Unfortunately, there is no definitive timeline for OTBs yet.
All of the moving pieces have been identified and all of the representatives from each breed and race track continue to work together on planning a smooth and timely return to racing. Everyone on the call is anxious to return to racing, and we will provide any new updates as soon as possible.
Bloodhorse – Santa Anita Allowed to Resume Racing May 15
Phil has a question:
What happened to Alberta’s rainy day fund.
Paulick Report – New Zealand Announces $72.5 Million COVID-19 Support Package For Racing Industry
Paulick Report – Pennsylvania Governor: No Exemption For Racing, Counties Must Be ‘Green’ To Resume
Phil’s dedications to the health care workers stuck in isolation from their families with little help from the powers that Bee.
NY Times – Kepner – Willie Mays at 89: ‘My Thing Is Keep Talking and Keep Moving’
Every time I look at my pocketbook, I see Jackie Robinson.
Willie Mays
Phil has a question:
When does Willie’s card some up.
The farther away you writers stay, the better I like it. You know why? Because you’re trying to create a bad image of me… you do it because I’m black and Puerto Rican, but I’m proud to be Puerto Rican.
Roberto Clemente
Paulick Report – Churchill Releases Extended Schedule For Derby Points Races
Phil has a question:
Where can you wager on the date.
TDN – Ross – Turf Paradise Closes Doors For Summer Under Cloud of Uncertainty
Finally, I have not included any analysis or contribution from a very important component of the industry’s wagering activity, the Advanced Deposit Wagering (ADW) companies. There have been recent concerns expressed in the media regarding the economics and practices of ADWs and their financial contributions to the racetracks and purses.
I do share some of those concerns. The fact that a number of the racetracks control some of the major ADWs with very limited disclosure regarding their customers and business practices is a significant issue.
Broadly stated, the same state regulatory agencies that do such a poor job in overseeing the fragmented ineffectual drug testing and penalties for racing participants are the same entities that oversee the regulation of ADWs.
VOX – Grady – So you want to read the classics
Phil’s Covid-19 Song of The Day
The hardest thing to learn in life is which bridge to cross and which to burn.
NRN – Biglari Closes 57 Steak-n-Shake Units
Phil has a question:
What number is the favourite of US bankruptcy lawyers and accountants.
Have you noticed that Covid-19 is more deadly in those persons and businesses with pre-existing weaknesses.
NRN – Burger King Parents Considers Designing Faces Masks as Part of the Uniform
Phil has a question:
In deference to their namesake will Tim Horton’s face masks resemble goalie masks.
Thoroughbred Racing Commentary – Irwin – It’s Time To Revamp the Triple Crown
The Chinese use two brush strokes to write the word ‘crisis. ‘ One brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger–but recognize the opportunity.
John F Kennedy
There is nothing either good or bad, but thinking makes it so.
William Shakespeare
While we’re reprising:
Yet some analysts say what is happening in Atlantic City and other parts of the country is actually good for a market that has gotten too big to sustain itself. Fitch Ratings saw the upside in the shutdown announcement.
CTV – AP – Parry – Atlantic City casino shutdown needed, analysts say
While we’re reprising:
GGB News – Alberta Extends Casino Moratorium
To most men experience is like the stern lights of a ship, which illuminate only the track it has passed.
Samuel Taylor Coleridge
Northview is the leading breeder in Pennsylvania, where the future of the racing and breeding industries are uncertain after Gov. Tom Wolf announced his intentions in February to divert $200 million from Pennsylvania Race Horse Development Fund to a program that would create scholarships for Pennsylvania residents applying to colleges in the state. But Northview General Manager/Director of Sales David Wade said the decision to close the Pennsylvania operation had nothing to do with Wolf’s proposed cuts.
TDN – Bill Finley – Northview Stallion Station to Consolidate Operation, Sell Pennsylvania Division
TDN – Minimum Graded Stakes Purses Lowered for 2020
Phil has a question:
When the North American economy slowly restarts from the biggest body blow it’s taken since the Great Depression how long before other states and provinces shift monies now going for horse racing purses to things like food, shelter and education.
The Bitter Southerner – Collins – On the Shoulders of Giants
NY Times – Searcey – With Country Fairs Off, Children Show their Cows and Sheep Virtually
Garden and Gun – Liles – Farming in the Time of Coronavirus
Paulick Report – Woodbine Officially ‘On Track’ To Begin Racing On June 6
TDN – Thornton – Woodbine Seeks June 6 or 13 Start; Overnight Purses Won’t Take a Hit in 2020
Phil has a question:
What percentage of Woodbine’s purse money comes from the excessive gouging fees that Woodbine charges to horse racing bettors in the rest of Canada.
Why doesn’t someone at Horse Racing Alberta ensure that Alberta money stays in Alberta to benefit Alberta horse racing rather than subsidize Woodbine in Ontario.
Opportunities are usually disguised as hard work, so most people don’t recognize them.
Ann Landers
National Post – Virus RmYN02: Researchers find another potential link between bats and COVID-19
Have you ever Really Loved A Woman
Southern Living – 48 Spring Dinner Ideas the Whole Family Will Love
Paulick Report – Temporary Restraining Order Placed On Ohio Equine Facility
Phil has a question:
How can the same people who use airborne yeast to make sourdough bread not understand the dangers in the spread of Covid-19.
Garden and Gun – Liles – Putting a Stop to Turtle Trafficking
Phil M Stockmen
2 Responses to “Future of Horse Racing in Alberta – Reprised and other Sundre Ramblings”
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Stewards inquiry for Century Casinos first quarter earnings. Date has been the pushed back from May 8 to May 15 and now May 20th, as they are rumoured to seeking advice from NP and Stampede; inventive accounting for the race Industry?
Canadian Racing Accountability Partners has projected Alberta thoroughbred purses at $3.4 million for the 2020 season based on maximum 50 days @ 68k per day. Social distancing policies with 50% slot usage will put severe pressure on purse revenues that have gone from $16.4 million in 2004 to $6.7 million in 2019.
For your reference when reviewing Financial results:
EBITDA
EBITDAC
Century Casino’s recent, May 8, 2020, 8-k filing regarding their failure to report first quarter earnings leads the Alberta horsemen to the following revenue shortfall solution:
Pool your loose change in the backstretch and sign a group Lotto Max agreement with 50% winnings to the participants and other 50% as a loan to century/HRA This will sustain purse revenue for 2020 race season subject to regulatory approval’s by the powers to be not the killer bees??