COLONIAL WINS FOUR SWF REFERENDA
Submitted by: Virginia Thoroughbred Association
Phone: (540) 347-4313
Email Address: vta(at)vabred.org
Date Added: 11/4/2004
Colonial Downs' and the Virginia Thoroughbred industry's effort to expand the SWF network enjoyed a banner election day as referenda passed in Greene, Henry, Scott and Westmoreland County with the lone defeat coming in Manassas Park. According to the State Board of Elections and various media accounts, the referendum in Greene County passed by 3,653 to 2,481; in Henry by 9,924 to 9.077; in Scott by 4,203 to 2,973. The Manassas Park referendum was defeated by a vote of 2,076 to 1,164.
”This is a big step forward and exciting news,” said VTA President Debbie Easter. “It looks like Northern Virginia remains a difficult problem to solve due to concerns about traffic and other issues."
”We are delighted by the results,” said Anne Poulson, Chairman of the Virginia Racing Commission (VRC), “and we look forward to Colonial making applications to expand their system.” Poulson pointed out that the industry had accomplished much in the past 12 months, noting that a year ago there were only four SWFs operating in Virginia. Since then Vinton has passed a referendum and a new SWF has been opened in South Richmond, which completed Colonial Downs' original build-out of six off-track facilities. Within that one-year window, at the request of Colonial Downs and the other stakeholders in Virginia racing and breeding industries, the General Assembly passed legislation, which increased the network from six to ten. Yesterday, the four referenda that passed set the stage for Colonial Downs to once again completely build out the system.
”In the long run the object of the exercise is to increase live racing days, purses and the Breeders Fund,” said VTA Executive Director, Glenn Petty. “If Colonial puts the development of these four new sites on a fast track, we estimate the industry could see an increase in handle of somewhere between $40 million and $60 million or more by the year 2006.” “Hopefully, that is a conservative estimate, but it represents meaningful growth with positive economic impact on purses and the Fund,” he continued.
The Manassas Park referendum was plagued by traffic concerns and other issues typically sensitive to the area. Colonial Downs will likely discuss its development plans at the November meeting of the VRC.
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