by INFORUM
ND Racing Commission OKs plan to help Fargo track
June 8, 2010 at 4:55 pm in INFORUM
FARGO (AP) — The North Dakota Racing Commission has approved a plan to help a financially troubled track in Fargo pay its debts.
The North Dakota Horse Park is $150,000 short from last year’s season, owing money to suppliers and vendors. Continue reading…
So….the track lost $150,000 last year…. And now it’s being given/loaned $150k so it can open up again next year and presumably lose another $150k? Glad it’s not my money…that is one horse i wouldn’t bet on.
Like or Dislike:
16 
8
it is your money…..
Like or Dislike:
12 
6
they still owe the edc $250,000….. they need to also look into who was offered to buy their land and at what price per sf….you know, the land they got from taxpayers.
Like or Dislike:
11 
7
very true Doc. i was referring to the recent 150k of which 100k is from a single donor. I hope they don’t ever add any additional taxpayer funds to this money pit from now on.
Like or Dislike:
13 
5
How do you pay back the loan with out opening? I can’t say I would lend money to a group that has no plans of how it will operate in the black.
Like or Dislike:
8 
2
Re: Horses. You shovel money in one end…
Like or Dislike:
9 
2
Years ago, I questioned the viability of horse racing in a town this size. My concerns centered around the struggles of horse tracks in Winnipeg, the Twin Cities and with Arlington in Chicago which has been saved from the edge of bankruptcy on more than one occassion. The argument from tracks like Cantebury in the cities is that they could not compete with the local native American casinos. So now, they have poker and other chance games which have helped sustain. Wisconsin experienced similar issues when they introduced dog racing a number of years ago throughout the state. The last track in Kenosha, WI finally gave in last year after it reportedly lost 17 million dollars.
Now, I do realize that the NDSU Equine studies does benefit from this setup but I do continue to question the validity of putting more money into what I see as a dead last finish.
Like or Dislike:
6 
3
I think it’s a very prudent move on the part of both the North Dakota Horse Park and the North Dakota Racing Commission that the track not run any races this year. At least, the track intends to cover the $150,000 and see to it that all their suppliers and vendors get fully paid.
NDHP doesn’t want to follow the lead of such groups as Fargo’s two failed professional basketball teams, the F-M Beez and the Fargo-Moorhead Fever; which some businesses report that they are still owed money by those two long since disbanded organizations. The chances that they’ll ever see their money? Probably slim to none.
So, it’s good to see that the horse racing people want to stand up and make sure that all their debts are paid and all their ducks are in a row this year; so they can make a strong return in 2011 and offer live racing again next year.
Like or Dislike:
0 
4