Just last week it was reported by the Thoroughbred Times that all the groups bidding for the New York Racing Association (NYRA) franchise have dealings with Mexican company Caliente, which allegedly has been involved in money laundering and has three times not been approved by the Nevada Gaming Control Board in licensing hearings. Whether the allegations will affect the bidding process in any way is not yet known. NYRA is presently in bankruptcy proceedings but could be allowed to keep control of racing in New York state while the slots operations are awarded to another company.

Racing in Australia has a high profile, with the whole nation practically coming to a standstill when the Melbourne Cup is run. Mohegan Sun, with its giant casino complex in Connecticut and racino in Pennsylvania, has announced that it will enter the bidding for running thoroughbred racing in New York state together with Australian company Capital Play. It is the Australian company’s know-how that Mohegan Sun considers will expand racing in New York into a sport attractive to young people and more women. Compared to around 400,000 people who went to watch the Melbourne Cup, a mere 46,000 watched the Triple Crown race the Belmont Stakes.

Capital Play Pty Ltd is a fully licensed international wagering company based in Australia. Karl O’Farrell, a New York City resident, is the founder, CEO and Chairman of Capital Play Inc. He is also the CEO and major shareholder of the Australian company. The Capital Play team brings a great deal of experience in the horse racing industry, including Paul Brettell who was a senior advisor to the Australia government on national sports policies, and John M Schreck who worked many years to ensure integrity in racing and held positions at the Hong Kong Jockey Club, the Macau Jockey Club, the Malaysian Racing Association and the Australian Jockey Club.

Capital Play and Mohegan Sun will bid against Excelsior Racing Associates, with backers Steve Wynn and developer Steven Roth, and NYRA the present franchise holder. O’Farrell is quoted as saying that racetracks should be nice places to be, with quality restaurants and bars. Capital Play aims to provide a vibrant entertainment atmosphere to invigorate the financial condition of the Saratoga Race Course, Belmont Park and Aqueduct, and operate the slot machine facilities at Aquaduct and Belmont Park. The company is also proposing a larger investment than the other bidders, offering US$500 million in track investment. (E-07.16.07)

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