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: LLLefty who wrote (68)	8/28/1997 7:28:00 PM
From: Obewon	of 158

HJ - I read the S-1A filed awhile ago and noticed that it is the off-site betting that has been responsible for the revenue and company officials do not expect the track to be profitable for about two years (based on past industry experience and current industry trends). So we are actually looking at a hit to earnings when the track opens on Sept. 1. This concentration on the OTB's is confirmed IMHO by the poor planning the company has employed in the building of the track itself. It was supposed to be finished two months ago and will not be finished for a month after racing starts. The only reason racing will start Sept 1 (prior to the entire facility being completed) is that the firm can have its license revoked if racing doesn't start by Sept 1. Additionally, the firm has consistantly been late opening its OTB facilities (i.e Hampton and the fourth one in Southern VA). Though I am intrigued by the prospects if the firm can maintain revenue growth, I am holding off any investment until racing starts and we have a better idea of expenses related to the track itself. Obewon

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