Colonial Downs Racetrack Up For Sale
While it may have had the most successful year on record, the Colonial Downs horse racing track has been put up for sale by its owners Jacobs Entertainment. Why has Jacobs decided to call it a day after a record year?
The problems revolve around the introduction of other gambling tools in and around the racetrack, something which many states in the US have been looking at for some time. The New Ken County based racetrack has been unable to come to an agreement with local authorities on the introduction of Poker and over casino like facilities in their complex. This not only affects the main Colonial Downs course but also their other nine affiliated tracks which have also been enjoying the good times. So what next?
There is speculation that the move to put the business up for sale is no more than the first shot in what could turn out to be a long term battle of wills to see who will crack first. The authorities would prefer to have an owner who was committed to the business and able to push it forward in a professional manner, thereby guaranteeing the already substantial employment of locals by Jacobs Entertainment. However the fact that Jacobs Entertainment is in all honesty a casino dominated business should not be ignored and they may have an ulterior motive with their actions. Many are suggesting that they are trying to pressure the authorities into effectively giving them a casino licence by proxy.
The US casino industry has gained in strength over the last twelve months in the light of the online gambling ban, something which has taken away a large amount of unwanted competition. Quite how this particular situation will pan out remains to be seen but the influence of the gaming industry has never been stronger in the US.
