ROANOKE TIMES 

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SUNDAY, May 2, 1993                   TAG: 9305020076
SECTION: VIRGINIA                    PAGE: D-4   EDITION: METRO 
SOURCE: Associated Press
DATELINE: NORFOLK                                LENGTH: Medium

DECISION NEARS ON HORSE TRACK VA. BEACH, PORTSMOUTH IN THE STRETCH

The operators of Churchill Downs have narrowed their search for a place to build Virginia's first horse racing track and hope to pick a site soon.

Churchill Downs, site of Saturday's Kentucky Derby, plans to put the track in either Virginia Beach or Portsmouth, officials said.

"We expect within 30 days, hopefully, if all goes right, after the derby, to make a decision," said Jeff Gregson, Churchill Downs' Virginia representative.

Another track operator said he also is closing in on submitting a track application to the state Racing Commission but is unsure when he will do so.

Arnold Stansley, president of Raceway Park in Toledo, Ohio, and a principal investor in a Fort Worth, Texas, track, is looking seriously at a site in New Kent County, where developers are offering more than 300 acres free for a track.

Virginia has created friendly legislation and drawn interest from track operators, but potential investors are being cautious. Building a new track could cost tens of millions of dollars at a time when tracks across the nation are facing declining revenues.

A track application would be a breakthrough for the state, which has been waiting for horse racing since 1988, when voters approved pari-mutuel wagering.

In anticipation of an application, Donald R. Price, secretary of the state Racing Commission, said he is preparing to outline the application process at the next commission meeting in Richmond.

"This will give us some kind of indication of where these people [potential investors] are in the application process," Price said.

For Portsmouth and Virginia Beach, the contest to land the state's first track has become a waiting game. Portsmouth entered the running more than a year ago.

But the recent emergence of Virginia Beach, the state's most populous city, has created something of a David-and-Goliath confrontation.

Portsmouth has shown unprecedented support for a track and the City Council has feverishly courted Churchill Downs. Virginia Beach is offering two sites and also has done substantial courting of track officials.

Keywords:
HORSE RACING 


 by CNB