Posts Tagged ‘laurel park’

EQUINE VIRUS RESTRICTS HORSE MOVEMENT AT LAUREL

Friday, November 14th, 2008

(From Maryland Jockey Club press release)

LAUREL, MD. 11-14-08—The Maryland Jockey Club Friday announced until further notice no horses will be allowed to ship into Laurel Park except those from the Bowie Training Center on a Maryland Jockey Club shuttle. The limitations were instituted after a two-year-old filly in Barn 1 at Laurel tested positive for equine herpesvirus Thursday. In addition horses based at Laurel and Bowie are restricted to the grounds. The Pimlico Race Course stable area is closed for the winter. 

“This is a precautionary measure,” said Tom Chuckas, president and chief operating officer of the Maryland Jockey Club. “It is in our best interest to restrict the movement of horses in and out of Laurel until we see the outcome of the tests on the remaining horses in Barn 1.” 

On Wednesday afternoon, the Maryland Department of Agriculture (MDA) placed an "Investigational Animal Hold Order" on Barn 1 pending laboratory results after Nin, from trainer King Leatherbury’s stable, showed neurologic signs of the virus. The filly tested presumptive positive for equine herpesvirus, but the blood samples sent to the University of Kentucky were inconclusive so additional samples were taken today. 

The Hold Order limits all movement into and out of Barn 1, pending further testing. None of the other 29 horses are showing neurologic signs. Testing will continue in the barn. 

Today’s announcement forced 38 horses to be scratched from Friday’s nine-race card and another 29 shippers will not be allowed to race tomorrow. The Maryland Jockey Club racing office attracted 87 entries on the overnight for next Wednesday’s nine-race program, which were taken today. 

“Everyone is being affected financially but you can’t keep track of the movement of horses that come off the farm or another training center,” said Maryland Jockey Club racing secretary Georganne Hale. “Entries will be short but we are trying to keep this situation confined.” 

The Maryland racing community faced an outbreak of the virus in early 2006 when three horses at Pimlico and another at Laurel were euthanized, while three live racing cards at Laurel Park were cancelled due to lack of horses as racetracks in neighboring states barred horses from running in Maryland. 

Equine herpesvirus causes upper respiratory infection and can lead to severe neurological disease. There is currently no known method to reliably prevent the neurologic form of EHV-1 infection. It is recommended to maintain appropriate vaccination procedures in an attempt to reduce the incidence of the respiratory form of EHV-1 infection, which may help prevent the neurologic form. Transmission occurs primarily by direct nose to nose contact or contaminated hands, equipment, feed and water. It can also be spread up to 35 feet by airborn droplets. This virus is not associated with any human health risk.

3:50 pm update:

The Maryland Department of Agriculture reports that testing from the University of Kentucky confirms that the 2-year old filly in Laurel Park’s Barn 1 is positive for EHV-1.

MAGNA SHARE SPIKE ON EVE OF MARYLAND SLOTS VOTE

Tuesday, November 4th, 2008

By Ray Paulick

UPDATED TUESDAY EVENING:

 Stock prices soared Monday in Magna Entertainment, the racetrack company that operates Laurel Park and Pimlico in Maryland, where voters are deciding today on an amendment to allow 15,000 slot machines at five locations in the state.

The share price jumped by 92%, from $1.82 at the opening bell to $3.50 by the day’s close. Magna Entertainment, which also operates Santa Anita Park, Golden Gate Fields, Lone Star Park, and Gulfstream Park, among other tracks, trades on the NASDAQ under the symbol MECA. One-day trading was the heaviest that it’s been since Sept. 30, when the stock plummeted from $4.00 to $1.75. Earlier this year, Magna exercised a 20-for-1 reverse stock split to maintain its position on the NASDAQ.

UPDATE: Tuesday afternoon, Magna Entertainment sent out a press release saying the company "is not aware of any specific developments" connected with the sudden increase in share prices. MECA closed at $3.97 Tuesday afternoon, an increase of another $.47 (13.4%). 

Even with Monday’s gains, adjusted share prices are down 95% from what they were when MECA went public in 2000. The company is saddled with hundreds of millions of dollars of debt.

Polls indicate the Maryland constitutional amendment permitting slots will pass, though there is no guarantee that Magna Entertainment will be one of the operators of the slots parlors. Approximately 7% of revenue from the machines will subsidize horse racing purses, with 2.5% going to racetrack renewal.

When Magna Entertainment purchased the two Maryland Jockey Club tracks from the family of Joe and Karin De Francis, the agreement gave the former owners 18% of any future profits MECA earned from slot machines.

The company announced Monday that a previously announced deal fell through to sell excess property near Ocala, Fla., where company chairman Frank Stronach had once hoped to build a racetrack.

 Copyright © 2008, The Paulick Report

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