Report: Woodbine Interested in Meadowlands
Updated: Friday, June 27, 2003 4:16 PM
Posted: Wednesday, June 25, 2003 3:34 PM
Woodbine Entertainment Group, which operates Thoroughbred and Standardbred meets, is considering a purchase or lease of Meadowlands, another dual-breed facility, according to a published report.
"The Meadowlands is so material to the Standardbred business," WEG chairman and chief executive officer David Willmot told harnessracing.com. "It's not yet clear as to what New Jersey wants to do. They've said they're interested in selling or leasing it. If that's the case, then we're certainly interested."
Magna Entertainment Corp. and Churchill Downs Inc., the two largest racetrack companies in the United States, have been mentioned as potential buyers for Meadowlands and Monmouth Park, both of which are operated by the New Jersey Sports and Exposition Authority.
WEG last year purchased Hastings Park in British Columbia to "lock down a Canadian market," Willmot said in the Web report. "We're not interested in most U.S. acquisitions--not that there are a whole lot of them left. If Magna and Churchill want to go knocking heads, that's fine. But, New Jersey is a very important market to us. We're each other's best customers on the harness side, so we have a vested interest in what happens there."
Willmot said there have been no official talks between WEG and the NJSEA. He did say the company has been talking with CDI as a potential partner.
Willmot couldn't be immediately reached for comment.
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