CDWN - Colonial Downs (1st Horse Track in VA since 1800s) Message Board

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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 (20)	8/5/1997 8:08:00 AM
From: H.J. Schellenberg	of 158

The following is a response to an inquiry to Virginia Business Magazine, a very well-respected business publication here in Virginia: Dear Mr. Schellenberg, I share your enthusiasm about Colonial Downs stock. We have devoted some coverage to the company, but it may be time to feature it in our "Taking Stock" column. Date: 8/4/97 2:11 PM Dear Editor: As an individual investor, I enjoy reading Virginia Business, especially the articles local business. One company I have not saeen much on is Colonial Downs (NASDAQ - - CDWN) is an up-and-coming company I believe would interest your readers. It was IPO'ed in March and has been trading higher recently. There are a lot of good things happening at this company, including a grand opening of their Colonial Downs Racetrack on 1 September 1997. This will be the first horse racing/betting facility operating in Virginia since the 1800s. The President of the company, O.J. Peterson, III, managed the Maryland Jockey Club and apparently really turned that existing operation around financially. He has big plans for the new company, including opening over 200 off track betting centers in Virginia. I certainly feel your readership would appreciate seeing CDWN listed in your regional recap of stock prices. The company also deserves mention as an already-profitable company with excellent prospects for appreciation. A possible headline for the grand opening might read "Best Bet at Colonial Downs May Be in the Company". The stock trades at a marked discount to most gambling stocks and has a 1998 estimate of .92 from First Call. The stock currently trades at about $8.00, less than ten times that estimate. Thanks you for your attention. I look forward to reading more excellent articles in the paper, Howard Schellenberg

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