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I don't see any future development being profitable, Horse racing is dead other than the Belmont stakes, that is one reason why Roosevelt Raceway is defunct. OTB and the NYS Racing Commission would love to see this but is a money loser.
I also don't know why the State was so hesitant to take on sports gambling when we already had the OTB infrastructure in place to handle it... unless that was basically their admission that the agency is corrupt, inefficient, and its employees incapable of actually handling the job.
Ok so what’s your suggestion? Do nothing? Let the colosseum and old Belmont just rot abandoned? Yeah that will be just great for the area
With the UBS arena now at Belmont, there are going to be lots of upgrades in the next 10 years on the property. Hotels, food, shopping, etc. The racetrack itself will see new grandstands, winterizing the track, things like that.
I don't see any future development being profitable, Horse racing is dead other than the Belmont stakes, that is one reason why Roosevelt Raceway is defunct. OTB and the NYS Racing Commission would love to see this but is a money loser.
Roosevelt ran pacers/trotters. Completely different type of race, and horses.
With the UBS arena now at Belmont, there are going to be lots of upgrades in the next 10 years on the property. Hotels, food, shopping, etc. The racetrack itself will see new grandstands, winterizing the track, things like that.
As usual for how things go in NYS there's a whole lot of vague promises about how funds will be used, paid back, etc.... Also mum on what happens if things don't go as planned.
I don't see any future development being profitable
The Belmont Park Village outlet center being built behind the Belmont Park parking deck has the potential to be both profitable and valuable. The developer will need some luck from Chinese tourists returning to New York and the MTA sorting out the transportation between Manhattan and Belmont Park.
The shopping center developer, Value Retail, owns a comparable shopping center outside London called Bicester Village. In fact, Belmont is closer to Manhattan, about 20 miles, than Bicester is to central London, around 60 miles. Woodbury Common, the dominant New York area outlet center located in Orange County, is located 50 miles from Manhattan.
Bicester Village, which Value Retail built in the 1990s and is the same square footage of the Home Depot-Marshall's-Target shopping center one mile east of Belmont, could be the most successful shopping center on the planet. I've reviewed publicly available financial reports on Bicester Village and on my math the property is worth roughly US$1.5 billion.
If Belmont Park Village is successful and is worth as much as its counterpart outside London, the shopping center would be worth more than the New York Islanders, which Forbes values at $1.02 billion.
Last edited by pretorius; 02-06-2023 at 08:25 AM..
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