The group representing trainers and owners at Gulfstream Park in Florida has begun to “reassess” its position regarding Gulfstream’s plans to support legislation that would remove a statutory requirement to hold live racing in order to continue to operate its casino, the group said in a statement released on Friday afternoon.
The group, which calls itself the Florida Thoroughbred Horsemen’s Association but does not have an affiliation with either of the two national horsemen’s organizations, said in the statement that its former decision to support Gulfstream’s lobbying efforts was “premised on continued racing, not shutting down Gulfstream Park with or without decoupling.” As a result, the group will “reassess the agreement,” it said.
Officials affiliated with Gulfstream and with 1/ST Racing and Gaming, the parent company of the track, met with the group’s membership ten days ago to discuss the company’s plans for Gulfstream. During that meeting, Keith Brackpool, a consultant to 1/ST’s chief executive, Belinda Stronach, told the attendees that the company had a three-year horizon for live racing at Gulfstream and was exploring the redevelopment of the property, which is located in Hallandale Beach on extremely valuable real estate.
In the statement, the FTHA said that those long-term plans were not communicated to the group’s board when discussing the legislation last year.
“When representatives of Gulfstream Park approached the FTHA last summer, they proposed how to best save racing in South Florida as part of an overall plan,” the statement said. “Closing Gulfstream in 2025 or at the end of 2028 was never mentioned or suggested, nor is that consistent with saving racing in South Florida.”
Tracks in Florida that have been allowed to decouple their racing and casino licenses have abruptly shut their racing operations. Due to their size and tight margins, racetracks typically have miniscule revenue per square foot figures when compared to casinos or residential and retail properties, especially in urban areas. The same dynamic has led to the closing of Hollywood Park, Arlington Racecourse, Bay Meadows, and Calder Race Course – once part of the South Florida circuit – in the past 15 years.
During the meeting and in correspondence with Florida constituencies, Brackpool has said that 1/ST might explore the establishment of a new track somewhere else in the state. 1/ST also owns a training center, Palm Meadows, in Boynton Beach, about 40 miles north of Gulfstream.
In its statement, the FTHA said that it would “conduct a comprehensive analysis of all alternatives for continued racing in South Florida” and “closely monitor all legislative or other steps that could put long-term racing in Florida at risk.”
Many rank-and-file members of the horsemen’s group were harshly critical of the group after finding out in early January that the group had at least tacitly endorsed 1/ST’s attempt to get decoupling legislation passed. According to attendees, security had to be called to the meeting ten days ago due to tensions among horsemen.
“The FTHA has already reached out to Gulfstream to have further dialogue,” the FTHA statement said. “The organization is planning another general meeting in the near future and will announce details soon.”
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