Re: Gulfstream in Jeopardy - I Talked To a Guy Who Knows A Guy Who Talked to a Guy (323 Views)
Posted by: Silver Charm (IP Logged)
Date: January 21, 2025 04:41PM
The area there is the Hood. Sorry and I know some really wonderful and beautiful people who live there. The Parking Lot would be an armed robbery waiting to happen after a good day.
The place is a Flamingo or Bird Sanctuary. The plant was falling apart as it was nearing its closing days. With the miniscule margins there are in Racing nobody is going to throw $80M-$100M of capital into a nice facility in the Ghetto. Not even Elvis. The Economics and ROI doesn't work out. Now going out to West Delray where Palm Meadows sits and the area is largely undeveloped and the area could be nice and shiny kinda like Arlington Park area was. Now you're talking....
Mike Repole, Seth Klarmin know enough of the Hedge Fund, Real Estate Private Equity types who have loads of Capital to deploy in the right places. But you need a bigger Plan than just a Race Track. And Stronach could be levered into leaving behind a Casino Sports Book with some Restaurants in Hallandale and kicking in Capital perhaps in the new Development with zero Control.
You don't need a Sheik. You just need the Zoning, Permits, Gaming License and a Palm Meadows and then some more Land. And now its Gulfstream Park all over again for another 40 years....
The place is a Flamingo or Bird Sanctuary. The plant was falling apart as it was nearing its closing days. With the miniscule margins there are in Racing nobody is going to throw $80M-$100M of capital into a nice facility in the Ghetto. Not even Elvis. The Economics and ROI doesn't work out. Now going out to West Delray where Palm Meadows sits and the area is largely undeveloped and the area could be nice and shiny kinda like Arlington Park area was. Now you're talking....
Mike Repole, Seth Klarmin know enough of the Hedge Fund, Real Estate Private Equity types who have loads of Capital to deploy in the right places. But you need a bigger Plan than just a Race Track. And Stronach could be levered into leaving behind a Casino Sports Book with some Restaurants in Hallandale and kicking in Capital perhaps in the new Development with zero Control.
You don't need a Sheik. You just need the Zoning, Permits, Gaming License and a Palm Meadows and then some more Land. And now its Gulfstream Park all over again for another 40 years....
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