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Non-Tech : CDWN - Colonial Downs (1st Horse Track in VA since 1800s)
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To: H.J. Schellenberg who wrote ()11/17/1999 4:46:00 PM
From: leigh aulper   of 158
 
yada, yada, yada

Colonial Downs Might Close in 2000

.c The Associated Press

By BILL BASKERVILL

RICHMOND, Va. (AP) - Colonial Downs, Virginia's first and only venture into parimutuel horse racing, could cease operations next spring if a new owner isn't found or the track's financial hemorrhaging isn't stanched, owner Jeffrey Jacobs said Wednesday.

''I can't just keep writing checks'' to keep the track afloat, Jacobs said after a meeting of the Virginia Racing Commission. Jacobs has paid $5.4 million in track subsidies this year and many millions more since the track opened in September 1997.

Colonial Downs president Ian Stewart told the commission the track's board of directors had voted to seek a buyer. At the same time, he proposed a ''financial stabilization plan'' designed to help the track at least break even, making it more attractive to a potential buyer.

On another issue, the commission rejected Colonial Downs' proposal to build a steeplechase track in the Prince William County town of Dumfries, a moot point since the Dumfries Town Council already had denied Colonial Downs a permit for the track and an on-site wagering center.

The commission also rejected James J. Wilson's competing bid for a 220-acre track and park in Prince William County, a vote that prompted Wilson to accuse the commission of playing politics to shield Colonial Downs from competition.

Racing commission chairwoman Robin Traywick Williams did not dispute that, noting that the law requires the commission to consider the negative impact of competition when awarding track licenses.
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