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Oklahoma Hits Jackpot · Focus Report · Article - Racetrack Slots ·

STATE OF OKLAHOMA HITS JACKPOT WITH REMINGTON PARK’S INITIAL DAYS OF OPERATION - 12/14/2005

After 9 full days of business, education to receive an average of more than $31,000 per school day

OKLAHOMA CITY – Remington Park released today their first earnings report itemizing the financial results of nine full days of business since the soft opening of the racing casino on November 21. Remington Park officials are pleased with the results. "As expected, the addition of the casino is benefiting education and breathing new life into the horse industry," said Scott Wells, Remington Park General Manager. "Moreover, we have doubled our workforce with the addition of 300 new jobs, and more than 95 percent of those are Oklahomans." According to the report issued to the state finance department, Remington Park’s casino experienced the following results for November 21 – 30:

Raised $158,809.93 for education ($31, 761.97 per school day)

Created more than 300 new jobs and saved approximately 300 existing jobs

Contributed $421,640.36 to Oklahoma’s agricultural industry

Two Chevy Avalanches were given away to Big Jackpot Winners in only a few days since opening

Total attendance of 41,266

"Our investment is paying off and people are excited," said Brenda Sanchez, Remington Park Casino General Manager. "We opened as soon as we could and have had great attendance, even with minimal advertising and during a holiday. It’s still too early to tell what the long-term results will be, but we are doing very well and we’re pleased with these numbers."

Full Report due out Jan. 15th, 2006

Focus Report - Betting on Video Lottery Terminals to Raise Revenue - 3/05/2004

The issue of whether Texas should authorize video lottery terminals (VLTs) at pari-mutuel racetracks or other locations is being discussed in advance of an anticipated special legislaive session in 2004 dedicated to revising the state's school finance system.
Supporters of state VLT authorization argue that the electronic gaming machines could generate significant new revenue for public education without raising taxes and would spur economic activity without expanding the footprint of gambling in Texas.
Opponents of VLT authorization counter that the machines would not raise significant revenue, would hurt the economy, and would expand gambling with negative consequences for the state.
Additional debate centers on where VLTs should be located and who should regulate them.

Full Report

Wentworth bets we will see racetrack slot machines
3/22/2003 - Express-News Austin Bureau
by W. Gardner Selby

New Braunfels - Senators seeking to write the 2004-05 budget without new taxes likely will approve slot machines at horse and dog tracks, a San Antonio senator said Friday.

"We'd rather do slot machines at race tracks worth hundreds of millions of dollars rather than raising your taxes, " Sen. Jeff Wentworth said at the annual Texas Legislative Conference sponsored by the Greater New Braunfels Chamber of Commerce. "I think that will happen."

The Republican-led Legislature is trying to write the $100-billion plus budget in the face of a projected revenue shortfall exceeding $10 billion through August 2005.

A gambling foe noted that Lt. Gov. David Dewhurst has referred a video slots proposal to a panel headed by Sen. Bill Ratliff, R-Mount Pleasant, who has objected to gambling measures.

"That's probably not going anywhere," said Susan Paynter, who represents the Christian Life Commission of the Baptist General Convention.

SB 1244 by Sen. Kenneth Armbrister, D-Victoria, would authorize the Texas Lottery Commission to oversee video lottery terminals.

Armbrister's proposal defines a terminal as an "electronic video game machine that, upon insertion of cash, is available to play or simulate the play of a video game, including video poker, keno, and blackjack, using a video display and microprocessors in which the player may receive free games or credits that can be redeemed for cash, coins, or tokens or that directly dispenses cash, coins, or tokens."

Advocates for legalizing video lottery terminals, including the Texas Association of Business, say the state could reap $500 million to $1 billion in 2004-05 if machines are authorized at eight existing tracks including Retama Park.

Wentworth said the idea could be even more "favorably considered" if Comptroller Carole Keeton Strayhorn sees the revenue picture worsening.

In January, Strayhorn pegged the gap between current state commitments and projected revenue through 2005 at $9.9 billion.

And Strayhorn still could boost the shortfall estimate if sales tax receipts continue to lag what the state collected a year ago. An update of receipts is expected early next month.

Wentworth said video lottery won't "enlarge the footprint of gambling in the state. Gambling already exists at dog tracks and horse race tracks. All you do is give people other options of gambling while they're there."

Paynter disagreed, saying: "The costs are increasing addiction rates, crime rates, and bankruptcy rates that offset any revenue that would be gained."

A spokesman for Gov. Rick Perry reaffirmed Perry's intention of vetoing measures that expand gambling. But he declined to say whether video lottery at race tracks amounts to an expansion.

Amarillo, Texas - 6/19/2002 - Saddle Brook Park, a $14 million project of Yellow Rose entertainment, begins construction with plans calling for the simulcast facility to be completed by spring of 2004.

When finished, Saddle Brook Park will be the first project of its kind to combine pari-mutual horse racing with an outdoor musical and entertainment venue.

Nestled on 285 acres along Interstate 40 and Arnot Road, just west of Amarillo, Saddle Brook Park will feature a one-mile oval with a 550-yard chute, 550 horse stalls. Fans will get close to the action on one of more than 300 television screens, including 16 screens measuring 12 feet each, that will be placed throughout the facility.

At full capacity, Saddle Brook Park will employ nearly 350 people and have an estimated $42.2 million impact on the Amarillo economy.

The Yellow Rose Ampitheater, located in the park's infield will have total seating capacity of 30,000 and will bring the biggest performers in everything from country, Tejano, rock, pop and Christian music.

"This is an exciting project for Amarillo and for horse racing," said Drew Alexander, President and CEO of Yellow Rose Entertainment. "Saddle Brook Park will fit perfectly into horse racing in the Southwest and will provide West Texas residents with first-class entertainment. I believe everyone will enjoy the many options that Saddle Brook will feature."

Designed by HD&D Design, an Amarillo-based architect firm, Saddle Brook Park will be created with a southwest look, evoking hints of Texas' famed Alamo. The Park will have a Lone Star situated above the main entrance, emphasizing the Park's Texas heritage.

Saddle Brook Park also will feature a 42,000-square foot, state-of-the-art simulcasting pavilion, which will include a contemporary race book, sports bar and dining area. It will bring horse and dog racing to area fans from the top racing venues across North America.