--Continued refurbishment of the physical facilities at Pimlico and Laurel, and the expansion of the simulcast wagering network. --The development of real estate assets and food service into non-racing related uses.
The Maryland Jockey Club announced Friday a reorganization of its executive board, including the hiring of Louis J. Raffetto, who will become the MJC's chief operating officer effective Jan. 1, 2001. The MJC also announced new titles and responsibilities for three current members of its board."I could not be more pleased and excited that Lou Raffetto is joining our team to manage all aspects of our day-to-day operations as the MJC's chief operating officer," said Joseph A. De Francis, the MJC's president and chief executive officer, in a written statement. "The addition of Lou's outstanding talent to our already top-notch management team puts the MJC in a great position to take Maryland racing to unparalleled heights of success."Raffetto is currently the executive vice president of racing at Suffolk Downs. Prior to joining the East Boston track, he held the position of assistant general manager at Monmouth Park.In addition to Raffetto's hiring, the MJC named Robert J. Di Pietro executive vice president-chief administrative officer; James P. Mango executive vice president-chief technology officer; and John Passero senior vice president-facilities and courses."The MJC's business is continuing to expand dramatically in both scope and complexity," said De Francis. "The marketplace in which we now compete, and the issues with which we must now contend, are more dynamic and challenging than ever before. In order for the MJC to be able to meet successfully these challenges, today and in the future, we are both expanding our senior executive staff, and refocusing the responsibilities of our existing senior executive talent to maximize our effectiveness."De Francis continued that the executive reorganization would allow for:--The efficient and productive operation of the MJC's core racing business. --The development and execution of an account wagering strategy.