New Racetrack Set to Open in Brazil

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Hipodromo Do Litoral, a racetrack that will feature Quarter Horse and Arabian racing, is scheduled to open Nov. 1 in Arroyo Do Sal, Brazil. Carnegie Cooke & Co. will operate it.

The facility will be open seven days a week through March, with live racing three days per week at the outset. Weekly revenue from racing and 20 virtual reality terminals is projected at $200,000. The VRIs produce about $1,000 per day in revenue.

Carnegie Cooke has an agreement with the Arabian Horse Breeders Association to train and race Arabians in Brazil. The training center will be housed at the resort racetrack and generate additional revenue for Carnegie Cooke.

Jay Goldberg, chief executive officer of Carnegie Cooke, said the track will offer "the same international simulcast racing facilities that are being installed now in the Jockey Clubs and in our OTBs. But the initial, primary interest will be on (racing) and on the VRIs."

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