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New Orleans Track Faces Challenges

NEW ORLEANS, Louisiana – As reported by the Associated Press: "With the Fair Grounds' racing meet beginning on its traditional opening day of Thanksgiving, forgive track president Bryan Krantz if his mind isn't solely on the horses.

"He is still dealing with a court ruling over video poker that forced the track into bankruptcy reorganization. Krantz faces a year-long project of adding slot machines at the track. And for a second season, the Fair Grounds faces stiff competition from another Louisiana track running at the same time.

"…In April, the Louisiana Supreme Court ruled that horsemen had been shortchanged in the amount of video poker revenue that should have gone to racing purses. The track filed for reorganization in August. Krantz said current calculations put the liability at $90 million.

"The track is currently negotiating with horsemen to settle the claim.

"…Krantz said the dispute needs to be settled before the track moves on with its plan to have 500 slot machines by opening day 2004.

"…Two tracks, Louisiana Downs at Bossier City and Delta Downs at Vinton, have their slot casinos running.

"…The influx of money from slot machines boosted Delta Downs purses far enough last winter that horses went there instead of the Fair Grounds.

"…Krantz estimated that slot machines will bring in about $3 million a year to boost purses, though the Fair Grounds will not have as many machines as the state's three other tracks…"

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