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SBD/Issue 202/Facilities & VenuesPrint All
CDI Exec Says Kentucky's Thoroughbred Industry
Is Dying, Alludes To Failure Of Lottery Bill
STOP & SMELL THE ROSES: The AP's Will Graves noted a dozen states, including Indiana, West Virginia and Pennsylvania, "already have expanded gaming at their tracks," which gives those states "another revenue stream to fatten purses and lure horsemen away from non-gaming states like Kentucky." But the Kentucky Derby "appears to be safe," despite Kentucky House Speaker Greg Stumbo claiming that there is a "chance another race could replace" the Derby as the first race in the Triple Crown (AP, 7/8).
Rust Wants To Make Speedway
More Prominent Presence In Auto Racing
READY AND WILLING: Kentucky Gov. Steve Beshear yesterday held a "ceremonial signing" of House Bill 3, an "incentives bill designed to help attract a NASCAR Sprint Cup Series race" to Kentucky Speedway. The bill, which Beshear officially signed into law on June 26, includes a "provision that offers Kentucky Speedway as much" as $36.7M in sales tax credits over the next 20 years. The tax break "would help SMI pay for what could be" a $100M expansion, but is "contingent on Kentucky Speedway hosting" a Cup race. Beshear: "I think this sends a very strong message to NASCAR that Kentucky is ready, willing and able to step up and do everything possible to make this track a success and to make a NASCAR Sprint Cup Series race here a big success." SMI Chair & CEO Bruton Smith, whose company owns the track, said that the bill "represents a 'huge commitment' from the state" (KENTUCKY ENQUIRER, 7/9).
Staples Center will switch from Pepsi to Coca-Cola products starting September 1, said Lee Zeidman, the arena's Senior VP & GM. Coke signed a 10-year contract with arena owner and operator AEG two years ago as a founding partner for L.A. Live, the entertainment district across the street developed by AEG, and the arena will be folded into that deal for the remaining eight years, Zeidman said. Coke will have branding elements on the building's concourses. Pepsi has been a founding partner and had the soda exclusive since the arena opened in '99.
Roberts Says Saratoga Needs Significant
Investments To Stay Competitive Globally
CITY VS. COUNTY: In Oakland, Chris Metinko reported Alameda County has filed suit against the city of Oakland for enforcing its 18.5% city parking tax on "spots on the Oakland-Alameda County Coliseum property," which is jointly owned by the county and city. The new enforcement of the tax "will have an immediate effect on baseball fans," as the A's said that parking fees "will go up $2 at the Coliseum starting with the next homestand" that begins on July 16. County officials said that the tax "should not be imposed on land owned by the county and would cost the county money" (OAKLAND TRIBUNE, 7/7).
MISSED PAYMENTS: In Colorado Springs, Rich Laden reported Colorado-based OZ Architecture "has filed a $185,498 mechanic's lien against LandCo Equity Partners," the developer of the planned downtown USOC HQs. Liens are "legal claims brought by contractors and subcontractors who haven't been paid or who question a payment." Three other companies "had filed liens or notices of liens on more than $200,000 in work on the building" (Colorado Springs GAZETTE, 7/8).