In the meantime, minority owner of tracks, Penn National Games, said continue slots at Laurel Park, which means lobbying to amend the constitution of the State to allow a second casino in Anne Arundel County, the Assembly back next month. Amend the constitution is a complex and uncertain process.
Annex 77 days, which is similar to winter this year and spring meets at Laurel Park and Pimlico, would "give us a few months to work together in an open environment" to develop a business plan for Maryland Jockey Club transform of unprofitable operation, said Frank Stronach, Chairman and Chief Executive of the holder of the majority of the tracks, MI Developments. The Jockey Club operates Laurel Park and Pimlico.
"A company that does not make a profit is not good for anyone", Stronach said in a brief interview Friday. "We are talking about a huge, but a reasonable return."
MI Developments and Penn National, who possess the Jockey Club through a joint venture had requested approval to operate a 47 days racing calendar year next to Laurel Park and Pimlico, approximately one-third of the schedule of races this year 146 days.
Maryland Racing Commission rejected unanimously this plan late last month, putting the thoroughbred racing industry status in the limbo, but no live racing schedule in place for next year. This move also endangered the Preakness Stakes.
New race schedule is required the approval of the Board races, which is expected to meet on 21 December.
Eric Schippers, senior vice President Penn National Public Affairs, said Friday that Pennsylvania casino operator is on board with the proposed calendar races. Important decisions concerning the operations of racing requires the unanimous approval of the five members of the joint undertaking, Council led by a majority MID, although the Board did not take a formal vote on the new calendar, according to Schippers.
"We're OK with it and we are happy to be able to save the Preakness we expect to plan long-term viability of the races in Maryland," said.
Penn, a plan to ensure the survival of races in Maryland must include Laurel, racetrack slot machines as neighbouring West Virginia and Delaware, said Schippers.
Jockey Club officials say that Laurel Park has lost 4 million to 7 million per year for several years. And the benefits of Pimlico comes almost entirely the Preakness, Middle jewel of racing triple and more great sporting event a day in the State.
"Game has been the key to revitalization of racing in the States," said Schippers. "Maryland industry races remain competitive and these assets to be financially viable in the long term it dependent on the slots in the tracks."
But a single license of slots is authorized in Anne Arundel County voters are approved a measure of ballot for a casino slots at Arundel Mills. The Jockey Club was excluded as a bidder for not paying the licence application, and he struggled in vain to defeat the ballot measure.
Adding a second location in the County of would require a change in constitution of the State limit slots lounges at five sites in the State, with at Anne Arundel.
It is unknown if the new calendar meet officials of the race, breeders, trainers and owners. In recent weeks, some members of the horse racing industry demanded new ownership of Laurel Park and Pimlico, calling on State look to seize the track and the Preakness by its renowned domain power.
Association of the riders Thoroughbred Maryland officials cannot be reached Friday, stated that industry have a timetable similar to this year to ensure year long race.
Independently of the agreement for hourly race next year, Steuart Pittman, President of the Maryland horse said that should not "prevent the Governor of the intervener and forcing a transfer of ownership.
"Even if we are to the Governor to move forward, we want to go to the shareholders of both of these companies and to convince them that doing business in Maryland does sense MI Developments and Penn," said Pittman.
Chairman of the Committee as Louis said Ulman he would like to see new plan of the Jockey Club to comment on the race.
Member of the Commission John Franzone said expects the traces of submitting a detailed business plan which takes account of new sources of revenue potential, marketing ideas and other measures to make it more financially viable business owners.
"What the commission expects is more race dates", he said Friday.
In the meantime, Stronach said that he will participate in the week next meeting with the representatives of State and representatives of industry to negotiate an agreement on live races next year's race.
"I came there with a lot of goodwill," said Stronach. "I am a major horse owner." I love racing. I am a major coach. Still me that if we work together, we should be able to reach a formula where the race could be viable in Maryland. »
The meeting would be convened the second by the Office of the Governor Martin O'Malley, which met Monday with representatives of MI Developments, national Penn and groups of riders and breeders. Second legislative o o' Malley, Captain Joseph Bryce, said that the second meeting should take place at the beginning of next week.
Hanah.Cho@baltsun.com
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