Millions Unused in This State Fund Intended to Benefit Thoroughbred Racing

30/9/2021 Horse Racing Tips and Best Bets – WaverleyA recent audit of the Gaming Commission’s monitoring of gamblers listed on gaming exclusion lists found no deficiencies, but Auditor Suzanne Bump said the agency could do a better job of collaborating with the Legislature and other organizations to address the horse racing industry here, including the use of casino revenues to support racing.

The 2011 law that legalized casino gambling in Massachusetts carved out a portion of gaming revenues to flow into a Race Horse Development Fund (RHDF) that is meant to support each side of the horse racing world — the standardbreds that run at Plainridge Park Racecourse in Plainville and the thoroughbreds that used to run at Suffolk Downs. But with thoroughbred racing gone from the Bay State and the state’s casinos raking in record amounts of revenue, the statutory restrictions on the fund have led to a $20 million pot that largely cannot be spent as intended. …

“While MGC has done a noteworthy job managing the state’s emerging gaming industry, our audit makes clear the Commission should bring all relevant stakeholders to the table to consider the Race Horse Development Fund’s most effective use,” Bump said. “This consultation and collaborative effort would enhance oversight of the fund, and would benefit breeders, owners, and the industry as a whole.”

As of the end of August, the fund had a balance of more than…

Horse racing on the decline? Not in this state, according to local industry leader

The Massachusetts Thoroughbred Horsemen’s Association (MTHA) became the third group to enter the race to re-establish the sport, partnering with an investment group in pursuit of a $60 million race complex in Rowley that seeks to hold at least 60 live racing events each year, the Boston Globe reported. Other projects include a $300 million pitch from the Notos Group to develop a multi-purpose complex around a new track and a $15 million initiative from Suffolk Downs’ former owners to revitalize the Great Barrington Fairgrounds.

The three projects seeking approval will have to overcome the financial difficulties that doomed Suffolk Downs as well as sagging fan interest, participation and horse safety concerns that have plagued the sport in recent years. MTHA President Bill Lagario argues that Suffolk Downs’ issues were due to mismanagement rather than a sign of a dying industry.

“We don’t feel as though we’re coming into a market that’s dead, but we feel as though we’re coming into a market that the perception around everybody was that it was pronounced dead a long time ago,” Lagario told FOX Business. “You don’t have to go back too long ago to see 35,000 people at the Massachusetts Handicap.”

Wagering on U.S. horse racing events experienced a significant decline in recent years to roughly $11.2 billion in 2018 from $16 billion in the early 2000s, according to Equibase. A recent New York Times report that 2018 Triple Crown winner Justify failed a drug test ahead of his history-making run reignited calls for stricter, uniform standards for the treatment of horses.

Is Horse Racing Dead in Massachusetts? Not Yet

Sterling Suffolk Racecourse, LLC (SSR), the company that operates Thoroughbred racing, wagering and simulcasting at Suffolk Downs, and Fairgrounds Realty LLC and Fair Grounds Community Redevelopment Project Inc., the entities that own the Great Barrington Fairgrounds, have reached an agreement for a long-term lease of the historic race track property in Great Barrington to commence racing as soon as 2019, the companies recently announced.

Under the agreement, Sterling Suffolk Downs would refurbish the Fairgrounds property and operate a commercial race meeting at Great Barrington while continuing to operate simulcast wagering at its current location in East Boston. Suffolk Downs, the New England Horsemen’s Benevolent and Protective Association (NEHBPA) and the Massachusetts Thoroughbred Breeders (MTBA) are seeking modifications in state racing and simulcasting laws, which are set to expire at the end of July, to accommodate the new arrangement.

“This is a very exciting opportunity for us to help preserve and refurbish an iconic property in the heart of the Berkshires, to boost economic development in Great Barrington, continue live racing and preserve the hundreds of jobs, associated agribusinesses and working open spaces associated with the Massachusetts racing industry,” said Chip Tuttle, Sterling Suffolk Racecourse’s chief operating officer. “We are confident that we can do this consistent with Fair Grounds Community Redevelopment’s vision for sustainable preservation of the fairground property as a space devoted to community recreation and with a strong connection to its agricultural heritage.”

“We are excited to enter into this partnership which offers potential benefits to so many people and organizations in our community, western Mass. and the surrounding area,” said Bart Elsbach, chairman of the Fair Grounds Community Redevelopment Project, “Finding a group to partner with us in a meaningful way to continue use of our site in keeping with its history while continuing to offer the area valuable recreational and economic benefits without aggressive commercial development is consistent with our ongoing vision for the fairgrounds.”

The Great Barrington Fairgrounds has a rich history. It was the host of the longest continually operating agricultural fair in New England. Horse racing started on the property in 1859 and it was regarded as the centerpiece of the Massachusetts fair circuit. Pari-mutuel wagering began at Great Barrington in September of 1940 and continued through 1983. The track last offered Thoroughbred racing 20 years ago in 1998. The grandstand, barns and track facilities still stand, though they will require restoration and repair. In addition to improvements to the track surface, grandstand and other facilities, SSR officials indicated that they would be looking at expanding the racing surface at Great Barrington.

Massachusetts map“In its current condition, we are confident that we could conduct racing as soon as next year, should we need to, and we plan to explore with Bart, his team and the town options on expanding the racing surface to accommodate racing at longer distances. There was traditionally strong support for racing here and we hope to attract fans from across New England and New York.”

Suffolk Downs is scheduled to host three live racing and food truck festival weekends this summer on Saturday and Sunday, June 9-10, July 7-8 and August 4-5. Track officials have said that they hope to continue racing at the site in 2019.

In December 2012, the 57-acre fairgrounds property was purchased by Sheffield couple Bart and Janet Elsbach with the vision to preserve and restore the environmental health of the site. The Elsbachs created the not-for-profit Fair Grounds Community Redevelopment Project which has provided agricultural, educational, recreational, and other beneficial opportunities to the local community and visitors through the preservation and sustainable development of this historic fairgrounds site.

The revival of racing at Great Barrington has the support of the NEHBPA and the MTBA. The two organizations entered a joint agreement with Sterling Suffolk Racecourse in November of last year to seek alternative venues for continuing Thoroughbred racing in the state and to pursue changes in the state’s racing and simulcast laws that would facilitate the continuation of live racing. SSR sold the Suffolk Downs property to a development company in May of 2017 and has continued to operate under a lease agreement since then.

“Our membership is made up of hundreds of small businessmen and women and local family farms who want to continue the chance to earn purse monies and to make a productive contribution to the Massachusetts’ economy,” said Anthony Spadea, president of the NEHBPA. “Many of us raced at Great Barrington in 1997 and 1998 and would enjoy the opportunity to make it the seasonal home of racing here. We appreciate the support of the Legislature, the Massachusetts Gaming Commission and the Suffolk Downs team to keep this industry active and vital.”

Source: Press Release

Massachusetts Legislators Keep Racing Fund Intact

Massachusetts mapMassachusetts horsemen achieved a major victory when lawmakers reached compromise on the $40 billion 2018 budget bill that eliminates $400 million in spending yet leaves intact a significant portion of the money in the Race Horse Development Fund.

Source: Massachusetts Legislators Keep Racing Fund Intact

Regulators to finalize MGM & Wynn casino licenses

BOSTON (AP) – State gambling regulators are completing casino licenses for MGM Resorts International and Wynn Resorts after voters emphatically rejected repealing the state’s casino law. The gambling giants were granted the state licenses pending the outcome of the November election. Residents voted by a 20 percentage point margin on Tuesday to keep the 2011 law…