Colonial Owner to Sell Off-Track Properties
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Jacobs Entertainment announced Jan. 8 the selection of Cushman & Wakefield-Thalhimer to sell the properties formerly used as off-track betting facilities in conjunction with its Colonial Downs in New Kent County, Va.
The Colonial racing license was surrendered in late 2014 after the track and Virginia Horsemen's Benevolent and Protective Association failed to come to an agreement on race dates for 2015. Live racing in 2014 was lost when horsemen and the track failed to reach an agreement and the Virginia Racing Commission crafted a compromise schedule for 2015 and included a deadline to reach an agreement.
When an agreement wasn't reached before the deadline, the VRC revoked the Colonial racing license. In late 2015 Colonial applied for a limited license to run a single day in 2015 and 20 dates in 2016 but, citing the 2014 license revocation, the VRC did not grant that request.
Jacobs officials have wanted a shorter meet with bigger purses while the VHBPA prefers the purse money be spread over more racing days.
"This truly marks the end of an era for Virginia horse racing," said Jacobs regional vice president Stan Guidroz, in a statement, of the sale of the OTB outlets. "This has been a disappointing chapter in our long, difficult effort to bring and sustain national caliber, high-end horse racing in Virginia."
Since Colonial lost its racing license, the Virginia Thoroughbred Association, VHBPA, Virginia Harness Horse Association, and Virginia Gold Cup formed the Virginia Equine Alliance to consider racing options going forward. The VEA has conducted some flat races at steeplechase sites in the state and has offered some stakes races formerly run at Colonial at Laurel Park in Maryland.
Guidroz blamed Jacobs' decision to sell the OTB properties on the VRC.
"The Virginia Racing Commission would not support our efforts and spoke forcefully against them, so we must now take this unfortunate step," Guidroz said of the planned sale of off-track facilities. "We are confident we have tried everything in our power to create a model that would succeed, but having been unsuccessful, we must move forward."