Racing Sections of Gambling Bill Could Move Forward
Although parts of a massive bill that would overhaul gambling legislation in England remain on hold, businesses in the racing industry are hopeful that measures affecting them will advance.
The government is expected to remove legislation covering the sale of the Tote and closure of the Levy Board from the all-encompassing gambling bill.
With the gambling bill delayed because of its sheer complexity, there would have been widespread frustration within the racing industry if there was a longer wait than necessary for the resolution of the future of the Tote and the Levy Board, which is planned for closure in 2005.
It has been suggested for some time that the size of the gambling bill, said to run to at least 250 clauses, would present the government with serious timetabling problems.
Savill Argues for Tote
BHB Chairman Peter Savill recently acknowledged the advantages a Tote monopoly could bring to racing in England.
Savill has always maintained he opposes the idea, but in light of disputes between bookmakers and betting exchanges, as well as worries about the integrity of some of those using exchanges, Savill believes a monopoly could have its benefits.
"The ultimate person-to-person betting exchange is the Tote monopoly in which you're not betting against anyone other than all the other people," he said Wednesday during an attheraces broadcast. "There is no question that a Tote monopoly has the greatest integrity in the world, far better than a bookmaker or betting exchanges, there is a huge plus there. Of course, it comes down to choice and I've never been one to advocate a Tote monopoly. I've always said I do believe in bookmakers."
He added, "I think I'm getting close to the point where I'm not sure that that isn't the solution. I'm not saying I'm at the point where I think we need move to a Tote monopoly but I'm much closer to it than I was a year ago when it wouldn't have entered my head as being the way forward."
However, Savill made it clear that although he could see the benefits in having a Tote monopoly in theory, he would not want to see one introduced in the near future.
Turnover Drops again in Hong Kong
Officials at the Hong Kong Jockey Club attribute a struggling Hong Kong economy, the impact of the SARS outbreak and illegal bookmakers for a sixth successive seasonal fall in betting turnover.
While the final meeting of the season on Sunday had an attendance figure of 56,570--up 14.8 percent on the equivalent meeting of 2002--the gross wagering turnover of HK$1,335,405,432 was virtually unchanged.
Seasonal turnover has fallen by 8.5 percent to HK$71.5 billion. That figure is HK$6.7 million short of the turnover for 2001-02 and way short of the benchmark of $98 billion set back in 1997.
The average attendance per meeting this season was 27,900, a decline of 7.3 percent from the previous season and roughly in line with the turnover trend.
Hong Kong Jockey Club chief executive Lawrence Wong said he was "very concerned" about the negative effects the decrease in betting turnover would bring to Hong Kong society.
The betting duties and profits tax paid by the Jockey Club have previously constituted 11.6 percent of all taxes collected by the Inland Revenue Department, and the Jockey Club remains Hong Kong's premier contributor to charitable organizations.
NYRA and Spitzer Exchange Jabs
The dispute between the New York Racing Association and New York Attorney General Eliot Spitzer intensified Tuesday when the two sides traded sharp criticisms over a report by the attorney general's office last week that suggested the NYRA be overhauled to root out corruption.
In a 15-page document that he read at a press conference in Albany, Denis J. McInerney, an attorney for the NYRA, said that the conclusions in Spitzer's report should be all but dismissed because its recommendations were inaccurate and obsolete.
"There are numerous assertions, inferences and conclusions in the AG's report that are inaccurate, misleading, out-of-date, or the product of a fundamental misunderstanding about NYRA's operation," McInerney said, calling the report "unfair and its conclusions unfounded."
But Spitzer did not back down after McInerney's comments.
"I stand by the report and its conclusions," Spitzer said in a written rebuttal, charging that McInerney was misrepresenting the attorney general's report and the NYRA's role in the investigation that produced it.
The report, released last week after a three-year investigation, alleges that corruption was rampant in the NYRA's mutuel department, and it singled out NYRA's president, Terry Meyocks, for failing to address crimes that were committed by mutuel employees. The report also criticized NYRA's controls over money handled by mutuel workers.
Woodbine Interested in Meadowlands
Woodbine Entertainment Group of Toronto said it would consider the purchase or lease of the Meadowlands should the New Jersey racetrack be put up for sale.
David Willmot, CEO for Woodbine standardbredcanada.ca that the company has discussed partnering with Churchill Downs Inc. to buy the Meadowlands, which, like Woodbine, is a dual-breed facility.
"We have had discussions with a possible partner, and they have been talking to [the Meadowlands]," Willmot said, confirming that the partner is Churchill Downs. "When considering an acquisition of this nature, you're talking about a huge amount of capital, especially if New Jersey decides they want to sell the track instead of just lease it. We would have to look very deeply into the financials."
Woodbine Entertainment values the Meadowlands for its Standardbred product, which complements its own Woodbine-Mohawk circuit. Woodbine and the New Jersey Sports and Exposition Authority have worked closely in the past.
Ohio Rules out VTLs
Ohio legislators on Tuesday called for a temporary 1-cent sales tax increase in order to raise revenues for the state’s budget, a measure that leaves video lottery terminals for racetracks out of the picture.
The Ohio Legislature is expected to adjourn this week. It completed a $49-million budget proposal, which awaits the signature of Governor Bob Taft.
While the measure does not include video lottery terminals for the state's racetracks, which include Thoroughbred tracks River Downs, Beulah Park, and Thistledown, State Senator Jim Carnes told the Marietta Times that VLTs could be considered by Ohioans as an issue on the ballot in November’s general election.