Winners and Losers

[Bally Ache]

Beyerguy

Years ago, I had a friend who owned a boat and then sold it.  He used to say whenever he got the urge to buy another boat he would stand in the shower and rip up twenty dollar bills.

I think horse ownership falls into the same category (unless your wealthy).

[beyerguy]

No doubt, right now, its a losing proposition.  It doesn\'t mean it will remain that way, there has to be a purse level that would allow it to be profitable.  I won\'t go in uninformed, that is for sure.

[Silver Charm]

Nice little string guys.

The guy who owned the boat had no revenue stream unless he charged the pals who went out with him.

Horse Stock is down state-side but what about in Japan. Sadler Wells the #1 sire in Europe was bred I believe at Claiborne Farm. Along with top Japan sires Forty Niner and Sunday Silence (Stone Farm). They all sold to the highest bidder.

With a better opportunity for a return on your investment there will be more owners. The risk will be less until the Breeders start getting higher bids for the sold offspring. Its simple supply and demand with regression risk analysis factored in.

As of now slots in Ky and NY is TALK. With both legislatures already having proved they are slow moving and consistently behind the curve who knows when there will be change. The others are already acting. Any slippage these two have already incurred, and don\'t kid yourself they have incurred some, they may never get it back.

[Bally Ache]

Somebody correct me if this is wrong, but my understanding is NY already passed legislation a few years ago for video lottery terminals (whatever they are).  The holdup is determining whether NYRA or someone else is going to have the racing franchise.

[Silver Charm]

What a Joke.

VLT\'s are legal we just don\'t know who is allowed to do it.

[Michael D.]

winners: the owners of closing argument, who sold an equity interest in their horse right before the preakness (beaten by 25 lengths).

[hossgnat]

With some trepidation I suggest that we can add Giacomo and his connections and backers to the winners list.

Relative to the way this horse was brutalized by handicappers of all stripes after the Derby, his show effort in the Preakness has to be considered a quasi-vindication.

At a bare minimum, surely we must agree that he \"belongs\" with the good runners of his generation and that the Derby was not the fluke of the century.

[Chuckles_the_Clown2]

sure

That was the second biggest paying Derby winner ever. Tgraphs tools pointed to impending bounces by all the big number horses. The fast pace was foreseeable. They can never take that away from him or those that cashed. Giacomo won the Derby.

[Michael D.]

hoss,
i think the handicapping public judged Gia fairly. they made him the third choice in the preakness and he came in third, losing by ten lengths. smith and shirreffs definitely make the winners list. it\'s good to see the classy people rise to the top of the sport at this time of the year.

[STB]

Coffee hasn\'t totally kick in yet, but I think one of the reasons for delay in NY was that a group had sued challenging the constitutionality of the VLT law. About a year ago one court issued a decision that said VLTs where legal, but that sharing the dough with horse side was illegal, because per state const. all \"lottery\" $ had to go toward education. This ruling was appealed, and I think recently the highest court in NY issued a decision allowing both VLT operation and revenue split w/horsepeople.
Also during this time, the casino people partnering w/NYRA on VLT set-up didn\'t want to proceed until they knew what would happen in the court case and w/the franchise. I believe the state legislature just passed a law that said whoever gets the franchise inherits all obligations/licenses in re: VLTs.
Supposedly NYRA now believes VLTs will be up at AQU in early 2006; whether the court case and latest law really does move things forward is anybody\'s guess, given the way things happen here in Albany.
Thoroughbred Times and Bloodhorse web sites usually cover this stuff pretty well, probably can search their archives for more details on the court decision and the legislative action.