Professor Elam

Thursday Nov 29 2012

We have noted that the Retama Ractrack in North San Antonio has not only never earned a profit, it has lost over $250 M since its inception. But new olwner Pinnacle Retama Partners LLC will be owned by a Las Vegas owned casino company. Apparently the idea is that racetracks in Texas will lobby the legislature to allow casino type gambling at the track. This in my mind raises the question, well then why bother with the overhead of the horses that just lose money anyway. 

I saw an operaton like this in Hobbs, New Mexico. In somewhat bizzare fashion, the players were seated around a cyber table. There was no real dealer, the dealer was on an electronic screen as were the cards, now that is really trusting technology! At any rate this idea will go to the Texas Racing Commission December 18. Frankly this sounds like a long shot pun intended, to me.