Wed, 01/15/2025 - 15:43

1/ST commits to three years at Gulfstream, if horsemen support decoupling

Barbara D. Livingston
Gulfstream Park sits on valuable real estate in Hallandale Beach.

A representative of the parent company of Gulfstream Park in Florida told the track’s horsemen on Wednesday that live racing would continue at the track for the next three years provided the horsemen supported the company’s effort to pass legislation allowing it to continue to operate a casino at the property without a statutory live-racing requirement, according to multiple trainers who attended the closed-door meeting.

The representative, Keith Brackpool, who is acting as an advisor to the company, told horsemen that 1/ST Racing and Gaming, Gulfstream’s parent company, would commit to racing at the property through 2028 provided the legislation passes, the trainers said. When asked by horsemen if 1/ST was committed to racing at the property past that date, Brackpool said the company was not, according to the trainers.

“They wouldn’t say a whole lot, but I can say none of it was positive,” said Kentucky trainer Dale Romans, who spends four months of the year at Gulfstream and who was recently elected president of Kentucky’s horsemen’s group. “He said there was no guarantee they would stay in racing after the three years. And he said if you don’t support us on this, there’s no guarantee we’ll open tomorrow.”

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Brackpool was saying in public what he has said in private to other constituents involved in Florida racing in recent weeks. According to a letter Brackpool sent to the Florida Thoroughbred Breeders and Owners Association that was provided to Daily Racing Form by multiple Florida officials, 1/ST is contemplating a complete redevelopment of the Gulfstream property while exploring the construction of a new facility.

“We hope Gulfstream Park can continue as a home for horse racing in South Florida,” the letter stated. “In due course, it will be determined whether Gulfstream Park remains the appropriate location or if we should consider alternative sites within the State of Florida for a new facility.”

In an announcement last week that caught many Florida trainers off guard, 1/ST Racing said it had the support of horsemen for the “decoupling” legislation, which would separate the casino and racing licenses held by Gulfstream. Currently, state law requires Gulfstream to run live racing to operate its casino under an agreement with horsemen that also guarantees a cut of casino revenues for purses.

Gulfstream is located in Hallandale Beach, on extremely valuable land for real-estate development. It now serves as the sole Thoroughbred track in South Florida, after the demise of the three-track circuit comprising Gulfstream, Hialeah Park, and Calder Race Course.

1/ST also owns and operates the Palm Meadows training center in Boynton Beach, about 40 miles from Gulfstream.

At the time of the announcement last week, Steve Screnci, the president of racing and business development, said in an interview that passage of the legislation would enable 1/ST to access capital markets to fund developments on the property, including a new casino and hotel.  

Screnci, who attended the meeting, verified Blackpool’s comments but said that 1/ST would not commit to racing at Gulfstream beyond 2028 because the company would need to re-evaluate its options at the end of that year.

“It wasn’t a threat, it was a statement, and the reason we can’t say there will be racing after that time is that we will be assessing our commitment again,” Screnci said.

According to the horsemen in attendance at the meeting, two of whom spoke on the condition of anonymity, trainers in the audience had harsh words for both officials of the Gulfstream horsemen’s group and Brackpool. Two said that security had to be called in to quell tempers.

Screnci said that the meeting started off tensely, and he said he did not blame trainers for their emotional reactions.

“They’re concerned about the future in the same way that I am, that a lot of us are,” Screnci said.

Tracks in Florida that have been allowed to decouple their casino and racing operations have abruptly ceased live racing operations. In general, horsemen’s groups have opposed efforts to decouple tracks and casinos, and two national horsemen’s groups, the National Horsemen’s Benevolent and Protective Association and the National Thoroughbred Horsemen’s Association, issued statements last week in opposition to the Florida legislation.

Herb Oster, the executive director of the Gulfstream horsemen’s group, did not return a phone call on Wednesday. Last week, he said that the group’s board of directors voted to support the legislation because “the only hope we have to save racing there is to give [1/ST Racing] the ability to invest in the property.”

1/ST Racing and Gaming is controlled by Belinda Stronach, who took over the racetrack assets previously controlled by her father, Frank Stronach, as a result of a 2020 settlement of a bitter series of lawsuits between the two. Prior to that settlement, Belinda was the acting chairman of the company, though she came to racing after a long career in Canadian politics and executive roles at her father’s other companies.

While 1/ST once had the largest portfolio of racing assets in the U.S., the company’s footprint has been drastically reduced over the past five years. Last year, 1/ST gave up ownership of Pimlico Race Course in Maryland as part of a deal that will also result in its other Maryland track, Laurel Park, closing and being redeveloped in three years. Under the deal, Pimlico is being rebuilt and will become the sole track in the state, operated by a state non-profit.

The company also abruptly announced last year that it would permanently close Golden Gate Fields in Northern California, which threw the racing industry in the state into chaos. 1/ST still owns and operates Santa Anita Park in Southern California and a nearby training center.

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