JC / Railbird - De Francis Says He’d Forgo %

De Francis Says He’d Forgo %

I can’t believe the Bug Boys didn’t jump on this story: Ace reporter John Scheinman reports in the Washington Post today that outgoing Maryland Jockey Club executive Joe De Francis would relinquish his rights to slot machine profits if it would help gaming legislation pass in the state legislature:

“Sure, absolutely,” De Francis said. “I can’t speak for my partners, but I can speak for me. In order for [the Maryland racetracks] to be viable, the playing field has got to be leveled and slots have to come to Maryland to allow the Maryland Jockey Club to be competitive with Delaware Park, Charles Town and Philadelphia Park.”

Magna announced on Monday that it had exercised its option to buy the remaining 49% interest in the Maryland Jockey Club held by De Francis and his sister, Karin De Francis, a deal that did not affect an agreement between De Francis and Magna entitling him and partners to future slot profits. The share of gaming proceeds due to racetrack operators has been an issue in previous attempts to pass Maryland slots legislation.
—
In slots news further up on the East Coast, both Boston mayor Tom Menino and Massachusetts governor Deval Patrick have shot down a proposal floated by Suffolk Downs to build a temporary casino at the track if it was granted a slots license in 2008, reports the Boston Globe:

“I’m not interested in temporary licenses,” said Patrick. “I’m not interested in a piecemeal approach. We put out a comprehensive plan, because we think a comprehensive plan with those terms and conditions is what will and can work in and for Massachusetts and that’s what we intend to stick to.”

Menino, who has been advocating for a casino at the East Boston horseracing track, said he was blindsided by a Sunday Globe story that said if granted a casino license by the state in 2008, Suffolk Downs’ owners could be ready to go with a 180,000 square foot temporary facility, equipped with slot machines and gaming tables, as early as July, four years earlier than the governor’s plan envisions. The temporary casino would remain in place during development of a full-scale entertainment complex.”If this is going to be successful,” said Menino, “it has to be a destination resort.”

Suffolk COO Chip Tuttle said the plan was merely one piece of a proposal submitted to the governor’s office and that the track has no plans to move ahead without the support of state officials. Governor Patrick offered a plan last week to auction three casino licenses in the state; Suffolk is expected to be among the bidders.
9/30 Addendum: Dan Kennedy has an excellent post up on the results of the recent Boston Globe poll on casino gambling. Basically, Massachusetts residents say yes to gambling, no to casinos anywhere near them.

Posted by JC in State Issues on 09/25/2007 @ 9:00 pm / Follow @railbird on Twitter