Ruidoso Downs Racetrack...Alamo, Las Cruces or Clovis??

[Cathy4017]

There were a couple of articles in the ADN yesterday with thoughts along the same lines. So it's not a special general election at all.

And...you're right. It's not a good situation at all.

[hogfarmer]

I guess this is no big surprise, just very disappointing. Actually would be great if these folks did lose their homestead exemption for partaking in this charade!

30 Texans registered to vote in track election - Ruidoso News

[Cathy4017]

Originally Posted by hogfarmer

I guess this is no big surprise, just very disappointing. Actually would be great if these folks did lose their homestead exemption for partaking in this charade!

30 Texans registered to vote in track election - Ruidoso News

Ouch.

Quite a number of Texans own property in Ruidoso, and if the track moves, they'll lose rental revenues and such.

If they do lose their homestead exemption over this, they could probably just refile for it after the election, and cancel their voter registration in NM. That's just an educated guess on my part.

NM refuses to give RD a break directly from the state itself.

"Saunders said the track racino must deliver 26 percent of its net take to New Mexico. Another 20 percent is for horsemen purses. The Inn of the Mountain Gods Casino and the Travel Center Casino deliver eight-percent of their net win, unless the net win is less than $12 million annually. In that event, the tribe would pay three-percent of the first $4 million and eight-percent f the remainder....."


Inn of the Mountain Gods and other Indian casinos do have a very unfair advantage, with the combined 46% RD has to return to the state--as opposed to IMG's share of 3-8%.

I wonder what would happen if the voters just outright called his bluff?

[rruff]

Originally Posted by JDTH

I would vote for the tax if I could, but I am not a resident of Lincoln county. If the track leaves town it would have a huge impact on the local ecomony. I own a business in Ruidoso (nightly rental) and if the track leaves my business probably would go belly up. I depend on the tourists to make my business work and I am sure a lot of other people do also.

Though my business does not depend on the local economy at all, I agree with you. Just talked to John Underwood who is the RD city attorney. The racetrack has been a "labor of love" for Hubbard for many years, as he losses money on it every year... currently ~$2,000,000 per year. If the tax passes he will still lose money, but has agreed to keep it in place for 5 more years.

I just think it is a very bad time to lose the racetrack. Maybe in the next 5 years Ruidoso can diversify it's recreational attractions a little more and attract a different clientele, and the loss of the track (which seems inevitable) will be less of a disaster. Maybe the overall economy will be better in 5 years as well.