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Connecticut Greyhound Park: 2001 Was Worst Year Ever29 January 2002PLAINFIELD, Connecticut – Jan. 29, 2002 –- As reported by the Norwich Bulletin: "In its most public admission of major financial problems yet, the Plainfield Greyhound Park Monday announced it expects 2001 losses to reach $400,000 -- its worst year ever. "As a result, track executives asked selectmen Monday to waive $140,000 the town would get this year as part of its 1 percent tax on the facility's estimated $14 million to $15 million annual handle. "…In 2000, according to Plainfield Greyhound Park General Manager James Capiola, the track lost approximately $200,000 -- then, its worst year ever. "Those figures, however, are expected to double when final 2001 figures are calculated next month, Capiola said. "Business has declined at the track since the 1992 opening of Foxwoods Resort Casino and the 1996 opening of the Mohegan Sun. "…`We are suffering losses right now,' Capiola said, adding intense competition combined with a post-Sept. 11 hangover has crippled the track. `We're not down to the bone, we're into the bone. This (Plainfield deferring its tax) is a Band-Aid type effect that could help us.' "…In 2001, the Legislature passed a law allowing towns to waive the gross receipts tax for parimutuel gaming facilities if it chose. "First Selectman David Allard said any vote to waive the town's share would have to be taken at a town meeting scheduled by selectmen. "…But, he said, he needs more financial information from track officials, which they will provide in coming weeks, before selectmen schedule a town meeting. "Allard said he didn't think taxpayers would support a greyhound park bailout based on information he has now…" |