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Re: Very Important... (583 Views)
Posted by: Even for Life (IP Logged)
Date: February 24, 2005 02:04PM

Sorry in advance for the poor spelling/grammer. This is a topic I have a lot of passion for and wanted to quickly get my two cents in.

Jerry, I agree--I think that it is called attempting to influence the outcome of a gaming/sporting event.

In a way, I think that tracks, and racing commissons actually have an opportunity to clean house and deal with the fairness of the product they are selling. They are dealing with "corporate governance" issues. It is serious stuff. The cheating in horse racing is no different than the underlying issues of the financial scandals of the 90s (Anyone hear of Enron, MCI, Tyco) where investors (shareholders) were not being accuratly apprasied of the true operating risk of a business.

Sarbanes Oxley was enacted to ensure disclosure of financial practices/risks (Hmmmm...that former operating facility that has contaminated drinking water, and we have class action lawsuits/toxic torts--maybe we should let our investors know). The law has some serious flaws, but it was a start.

Racing needs to be very careful--especially the public companies. An aggressive group of shareholders can questions if the risks related to "cheating" is harming the underlying business (the gaming product). Are racetracks in control of the legitimacy of their product??? An aggressive Attorney General could even look into their practices. They whole underbelly of the sport can be exposed as a risk issue and racing would face an incredible amount of heat very quickly (if you follow business ask Marsh, AIG, Merck,etc.) The risk perception of "cheating" could impact racings public companies in a whole range of areas, from how they raise capital to insuring themselves from liability. Racing can take the opportunity to police itself and get a "one-time pass" by cleaning up its operations--or have someone else do it for them.

Perhaps we should advocate for class action suits. As bettors we are a major source of revenue for these operations. If you own shares in the mega tracks, a platform exists.



Even for Life



Subject Written By Posted
Very Important... (1054 Views) TGJB 02/24/2005 01:12PM
Re: Very Important... (726 Views) Silver Charm 02/24/2005 01:46PM
Re: Very Important... (434 Views) Chuckles_the_Clown2 02/24/2005 03:57PM
Re: Very Important... (368 Views) JimP 02/24/2005 05:05PM
Re: Very Important... (583 Views) Even for Life 02/24/2005 02:04PM
Re: Very Important... (382 Views) NoCarolinaTony 02/24/2005 05:41PM
Re: Very Important... (354 Views) Michael D. 02/24/2005 05:49PM
Re: Very Important... (444 Views) Even for Life 02/24/2005 06:23PM
Re: Very Important... (457 Views) Michael D. 02/25/2005 05:41PM
Re: Very Important... (344 Views) NoCarolinaTony 02/24/2005 06:26PM
Re: Very Important... (417 Views) Silver Charm 02/26/2005 10:44AM
Re: Very Important... (411 Views) Michael D. 02/26/2005 11:22AM
Re: Very Important... (405 Views) Silver Charm 02/26/2005 11:43AM
Re: Very Important... (426 Views) Michael D. 02/26/2005 12:28PM
Re: Very Important... (382 Views) 02/26/2005 12:39PM
Re: Very Important... (394 Views) 02/26/2005 12:35PM
Re: Very Important... (384 Views) Chuckles_the_Clown2 02/26/2005 12:57PM
Re: Very Important... (450 Views) Silver Charm 02/26/2005 01:17PM
Re: Very Important... (407 Views) Michael D. 02/26/2005 01:59PM
Re: Very Important... (401 Views) Silver Charm 02/26/2005 02:09PM
Re: Very Important... (416 Views) Michael D. 02/26/2005 04:38PM
Re: Very Important... (483 Views) xichibanx 02/25/2005 10:26PM
Re: Very Important... (562 Views) SJU5 02/24/2005 02:57PM


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