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Old 06-10-2016, 06:49 PM
 
34 posts, read 141,341 times
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http://www.bizjournals.com/baltimore...rosecroft.html

http://en.m.wikipedia.org/wiki/Rosecroft_Raceway

Rosecroft Raceway has change ownership yet again, most recently 2016/05/16. According to Wikipedia entry, Rosecroft Raceway has changed hands five times in the past twenty years. Even though the founding family ran Rosecroft Raceway for forty consecutive years, each subsequent owner has kept it for five or fewer years.

1) Why has Rosecroft Raceway changed ownership so frequently?

2) Will National Harbor, Tanger Shopping, and MGM Casino help or hurt Rosecroft Raceway?

3) How does Rosecroft Raceway affect future of Fort Washington, Oxon Hill, and Temple Hills?
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Old 06-10-2016, 09:35 PM
 
Location: It's in the name!
6,768 posts, read 8,351,063 times
Reputation: 3565
Quote:
Originally Posted by khyung View Post
http://www.bizjournals.com/baltimore...rosecroft.html

http://en.m.wikipedia.org/wiki/Rosecroft_Raceway

Rosecroft Raceway has change ownership yet again, most recently 2016/05/16. According to Wikipedia entry, Rosecroft Raceway has changed hands five times in the past twenty years. Even though the founding family ran Rosecroft Raceway for forty consecutive years, each subsequent owner has kept it for five or fewer years.

1) Why has Rosecroft Raceway changed ownership so frequently?

2) Will National Harbor, Tanger Shopping, and MGM Casino help or hurt Rosecroft Raceway?

3) How does Rosecroft Raceway affect future of Fort Washington, Oxon Hill, and Temple Hills?
Almost a half-billion in off-track betting from only two race tracks? That's no slouch. There's still money to be had at Rosecroft. I think Penn National purchased it in hopes to win the bid for a 6th casino. Once that fell through, they looked to offload it.

I don't think MGM would hurt Rosecroft. There are still people who love the odds of horse racing and just love the sport.

Rosecroft won't affect the future on the neighborhoods surrounding it. Neither will National Harbor. That is up to developers and their willingness to invest in those neighborhoods.

Take College Park for example. YOu have a top tier public university at your doorstep and College Park has looked like some small highway town you drive through like on 301 after the Harry Nice Bridge into Virginia. They had the university as a potential catalyst for decades and only NOW has the university been able to partner with the city to attract developers.

Fort Washington and Oxon Hill would need to work with MGM and National Harbor to attract developers to invest. It may take years or even decades for that to happen. But for now, MGM and National Harbor see themselves as a self-contained entertainment district that doesn't really need to connect with the surrounding neighborhoods. Much the same way the university saw itself as separate from the city of College Park. Which is probably the Metro Station is so far off campus.
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