Gary lol I had never heard of "The Onion" until you mentioned it but I did look it up. And I don't believe Racing is Dead either. It has its place but there are challenges.

Let me be clear Track Management are smart guys but here is the truth. The stock is down over 15% in the last year. Cash was increased as of 6/30/25 to just under $300M. And there is $2.9B in Net Plant and Equipment. And this counts the recent upgrades which are nice. But there is a catch. There is nearly $5.0B in Notes Payable and Long Term Debt. Plus this minus that most of that Balance Sheet difference is there is $3.3B in Goodwill and Intangibles assets. Thats paper trash. The Auditors do their tests, hold their noses and let it slide.

This company is leveraged out their A$$.

Roman yes the Arlington Million is run at Colonial in Virginia. Somebody once bought Arlington Park, demolished it and sold the land. Same with Hollywood Park, Calder and now Fairgrounds is up for Sale. I believe those markets are Chicago, Los Angeles, Miami and New Orleans. Was this "helping to grow the sport and good for the game" as the press release said today? You decide....

The NFL now plays on every day of the week except Tuesday and Wednesday. But might occasionally if those days fall on Christmas Eve and Christmas Day. Games are played in London, Munich, Brazil, Mexico. And you guys doubt me when I said a proposal to move the Derby to Dubai was under consideration at the right price? That $5.0B of Debt is not going to be paid back selling $3.00 Racing Programs at the front gate. EVERYTHING is on the table.

They had a great meet here recently. The last thing they need is a drug and doping scandal. There goes the handle. The Land in Hallandale is worth 5 maybe 10 times more per acre than the Land off Longfield is. Like I said they are looking for Revenue and Cash Flow and nothing else matters. I believe it was Gordon Gekko who once said "If you want loyal fans and tradition go buy a dog". You get the point....