BLOCKBUSTER PARK GOES WEST? HOLLYWOOD PARK HAS A PLAN
A 65,000-seat football stadium for the Raiders is just one
component in Hollywood Park's plan to "transform" its racetrack
facility into a "year-round sports and entertainment complex."
Hollywood Park Inc. recently built a golf range and card casino
adjacent to its racetrack on the 345-acre Inglewood, CA, site.
Ground will be broken next month on a shopping center and plans
call for a music center to be built as well. R.D. Hubbard,
Hollywood Park Chair and CEO: "We want Inglewood to be the place
where L.A. comes to play." Analysts say the plan is based on the
park's "need to lure young, upscale customers who normally are
not drawn to racetracks." Steven Weinress, a partner at L.H.
Friend, Weinress & Frankson Inc., says the large number of non-
racing days is also an incentive for expansion: "(Hubbard's)
whole concept is to turn it into a year-round destination site"
(Walter Hamilton, L.A. DAILY NEWS, 12/21).
PROBLEMS: But "major obstacles" exist in the path of a new
football stadium at Hollywood Park, according to a report in the
L.A. TIMES. Financial hurdles, competition with L.A., a lack of
commitment from the NFL and difficulty in dealing with Raiders
Owner Al Davis are what they face. "The big question is
Hollywood Park's ability to take on a huge new venture" (Reich &
Mulligan, L.A. TIMES, 12/21).