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re: Fair Grounds racing season is in peril after owner says it plans to pull out of Louisiana

Posted on 6/11/25 at 12:07 am to
Posted by holmesbr
Baton Rouge, La.
Member since Feb 2012
3597 posts
Posted on 6/11/25 at 12:07 am to
It's my understanding that the HHR machines are not random like a video poker machine. Its based on historical races. That makes it gaming and not gambling. Or some such.
Posted by Eightballjacket
Member since Jan 2016
7762 posts
Posted on 6/11/25 at 12:14 am to
Gayle Benson, or GMB racing, hasn’t started a horse in two years. I doubt she’s interested in buying the Fair Grounds. The Bernhards are much more involved on the racing and breeding ends so I could see them buying the Fair Grounds if available.
Posted by chalmetteowl
Chalmette
Member since Jan 2008
51955 posts
Posted on 6/11/25 at 12:46 am to
quote:

$22 million per year for the 4 tracks as a set aside to help offset the loss of HHR, but Churchill says the state won’t work with them

I think the real issue is they want to get out of the improvements they promised to make


If we only have four tracks, why does the state have so many regulations regarding horse racing? We should let the tracks run as they see fit
Posted by ChestRockwell
In the heart of horse country
Member since Jul 2021
6219 posts
Posted on 6/11/25 at 1:28 am to
Sandra Salmen
Posted by Tarps99
Lafourche Parish
Member since Apr 2017
10049 posts
Posted on 6/11/25 at 4:43 am to
quote:

Something tells me you aren’t familiar with how wealth in 2025 works and how much revenue an NFL franchise generates over the past 40 years, her familial debt obligations be damned.


There is an old adage about extremely wealthy people and debt.

When you owe the bank a few thousand dollars the bank owns you, but if you owe the bank millions or in Gayle’s case possibly billions, you own the bank.

In Gayle’s case, a valuation of the Fair Grounds of as much as 100 million amounts to nothing more than walking around money or a big player contract in the NFL or NBA.

As a gambler myself, I always stayed away from slots at the Fairgrounds and the OTB parlors. I felt they were gimmicky or glorified video poker machines with bonus slot games.

I didn’t know that the slots were tied in to historical horse races, I had heard of slots tied to bingo games in class 2 gaming especially at some Indian based casinos. You could tell the difference in that there would be a bingo card somewhere on the machine showing your bingo combination that yielded the payout instead of depending on a random number generator built into the slot machine. HHR would be something similar to slots without a RNG for payouts, instead of associating with an RNG for wins, it would randomly chose a horse race in the system to determine your level of win.


So let’s say it pulled a race where the horse with the worst odds won, that would somehow get displayed on the slot subtlety along with your win. A regular slot player would not know this unless they would look for it.
Posted by Cell of Awareness
Member since Jan 2024
787 posts
Posted on 6/11/25 at 9:16 am to
quote:

Something tells me you aren’t familiar with how wealth in 2025 works and how much revenue an NFL franchise generates over the past 40 years, her familial debt obligations be damned.


I know exactly how wealth works.

Many other businesses owned by Benson are not doing as well as the professional teams. Dixie Beer, for example, is all but a total loss. The dealerships are not the cash cows they were under Toim's stewardship as she focused nore on keeping the glamour brands. GMB racing is all but dead, Much of her Corporate Realty holdings are heavily leveraged and the value of the holdings like Energy Centre and Benson Tower have dropped as vacancies in New Orleans office space have risen. Her philanthropy is wonderful for the city but drained much of her liquid assets as she tries to put her name on everything.

Along with control of the $1 billion Shirley Benson trust, which included Lone Star Bank, shares in auto dealerships, and real estate in Texas and Nevad, Gayle had to issue a figure said to be over $500 million in promissary notes backed by the value of the sports teams to strip the other heirs of their ownership shares..

Gayle cannot sell shares to free her capital from the value of the Saints and Pels. She must borrow. And the NFL and NBA have rules over how much of a team can be leveraged as such.
This post was edited on 6/11/25 at 9:18 am
Posted by LSUFanHouston
NOLA
Member since Jul 2009
39315 posts
Posted on 6/11/25 at 9:39 am to
quote:

Dixie Beer, for example, is all but a total loss.


Hasn’t that already been sold?

I would agree with you that she probably can’t afford to buy an MLB team.,but I have no doubt she could leverage what is needed to buy a discounted fair grounds (discounted because CD has badmouthed the value and repairs are needed)
Posted by profdillweed
Gulf of America
Member since Apr 2025
810 posts
Posted on 6/11/25 at 11:14 am to
didn't she also sell Fox 8 after Tom died or did they sell that before he died?
Posted by KiwiHead
Auckland, NZ
Member since Jul 2014
33311 posts
Posted on 6/11/25 at 11:26 am to
That's not true. Whereas no longer a marquee sport, there's lots of people who go to the track on weekends and holidays like Thanksgiving, New Year,s and Mardi Gras Day....just to mention a few.

Thanksgiving weekend is pretty big on the attendance and betting action.
.
Posted by chalmetteowl
Chalmette
Member since Jan 2008
51955 posts
Posted on 6/11/25 at 11:32 am to
quote:

That's not true. Whereas no longer a marquee sport, there's lots of people who go to the track on weekends and holidays like Thanksgiving, New Year,s and Mardi Gras Day....just to mention a few.



What’s their average age
Posted by KiwiHead
Auckland, NZ
Member since Jul 2014
33311 posts
Posted on 6/11/25 at 1:28 pm to
Oh, it's middle aged and up mostly.
Posted by slidingstop
Member since Jan 2025
769 posts
Posted on 6/11/25 at 1:36 pm to
quote:

Thanksgiving weekend is pretty big on the attendance and betting action.


Thats tFGs opening weekend. I would hope they have a crowd. If not, they're in worse shape than thought. Go to the tracks on regular race days (weekdays, no stakes races or promotions) and the crowds are very small.
Posted by Aspercel
Member since Jan 2009
114545 posts
Posted on 6/11/25 at 1:45 pm to
They open the weekend before now.
Posted by Aspercel
Member since Jan 2009
114545 posts
Posted on 6/11/25 at 1:46 pm to
I mean… I was not going to put her name out there. You should really edit that.

Posted by profdillweed
Gulf of America
Member since Apr 2025
810 posts
Posted on 6/11/25 at 1:47 pm to
she retired 10 years ago
Posted by Aspercel
Member since Jan 2009
114545 posts
Posted on 6/11/25 at 1:54 pm to
She’s the person who got it registered as historic. But her name should not be out there.
Posted by KiwiHead
Auckland, NZ
Member since Jul 2014
33311 posts
Posted on 6/11/25 at 1:56 pm to
I've been on a weekend in the early Spring for regular races and there are decent crowds. It's never gonna fill up, but the attendance is good. Now weekdays except selected Fridays....like before Christmas are for the degenerates.
Posted by slidingstop
Member since Jan 2025
769 posts
Posted on 6/11/25 at 2:02 pm to
quote:

Now weekdays except selected Fridays


right, thats the days I was referencing.
Posted by cgrand
HAMMOND
Member since Oct 2009
43791 posts
Posted on 6/11/25 at 2:10 pm to
is there a good reason racing couldn’t just be FRI/SAT/SUN and holidays?
Posted by profdillweed
Gulf of America
Member since Apr 2025
810 posts
Posted on 6/11/25 at 2:15 pm to
im not going to argue with you....i dont know her background I just know who she is and her name

im sure you know more than most of us
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