SANTA FE (AP) — New Mexico's newest race track has won state approval to start simulcasting horse races and conduct pari-mutuel wagering.
Michael Moldenhauer, president of the track at Raton, said construction will start right away on a 14,000 square foot building that will show broadcasts of horse races from across the country. Once the simulcasts begin this fall, customers will be able to place bets on the races.
"Ideally, I'd like it to be before the end of the month of September," Moldenhauer said of the simulcasting.
The pari-mutuel betting will generate money for the track and purses that will be paid when live horse racing starts, which Moldenhauer expects in the summer of 2010.
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The state Racing Commission last week approved the track's plans for the simulcasting facility, which will be the first building at the track in northeastern New Mexico. Some preliminary site work on the facility already has been done.
"It's a really nice facility. We're going to convert it to another use when we're done. So we're investing a little more money in the architecture, the theme and the concept. It's important to us that we make a really good first impression with the future patrons of that facility," Moldenhauer said in a telephone interview with The Associated Press.
A 1-mile oval track is planned along with a casino, lounge and entertainment areas. The long-term master plan includes hotels and an equestrian center. Moldenhauer said it's uncertain what the simulcast building will be used for when the track's other facilities are completed.
The commission last year approved a license for the track to conduct racing but investors must meet a number of conditions, including gaining commission approval of site plans — such as the simulcast facility — and obtaining a separate state license to operate a casino with electronic slot machines.
Casinos have been an essential source of revenue for New Mexico's racing tracks, which are competing with tribally owned casinos for consumer spending on entertainment and gambling.
A day before the commission's decision on the simulcast facility, the state Gaming Control Board postponed a decision on a license for the track's planned casino. The board meets again June 16. Moldenhauer has said updated financial statements will be provided to meet a board request.
One of the partners and investors in the track, Marc Correra, a Santa Fe broker, has come under scrutiny because of large fees he received as a third-party placement agent on state investment deals. An anti-gambling activist has urged the board to hold up on a casino license for the track until questions are resolved about Correra, who also must be licensed by the board. Correra is treasurer of the track's corporation, Horse Racing at Raton Inc.
There have been no allegations of misconduct by Correra for his work on New Mexico investment deals and Sam Bregman, a lawyer for Correra, has said his client "got business because he worked for it."
The Racing Commission's license allows for pari-mutuel betting at the track while the Gaming Control Board's license will permit electronic slot machines at a casino.
Julian Luna, executive director of the Racing Commission, said commissioners approved the simulcasting facility to help ensure the track could start live racing around Memorial Day next year. Once simulcasting begins, he said, the track must begin live racing within a year. The track is to submit its proposed 2010 live racing dates to the commission next month.
"The Racing Commission does not want to delay the project any at all from our end of it," said Luna.
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On the Net:
Horse Racing at Raton: http://www.racingatraton.com/index.htm