ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Thursday, August 8, 1996 TAG: 9608080041
SECTION: VIRGINIA PAGE: C-4 EDITION: METRO
SOURCE: TONY WHARTON LANDMARK NEWS SERVICE
OFFICIALS WORRY that the investor's lack of success in Texas may foreshadow
his luck with Virginia's first parimutuel track.
Trinity Meadows Raceway in Texas, which is partly backed by the developer
of Virginia's first parimutuel racetrack, closed Tuesday, raising concerns
about the developer's plans here.
Virginia racing officials immediately said Trinity Meadows' closing doesn't threaten the plans for Colonial Downs in New Kent County near Richmond.
``That's another jurisdiction,'' said Donald Price, executive director of the Virginia Racing Commission. ``I'm not familiar with the reason they closed down, but that's a problem that doesn't bother us or have an effect on us.''
Price said Arnold Stansley, who won Virginia's first license to develop a track over bids for Virginia Beach and Portsmouth, still would have to build a facility and perform up to Virginia's standards.
But state Sen. Ken Stolle, a Virginia Beach Republican, said Trinity Meadows should raise questions about Stansley's ability to succeed in Virginia.
``I certainly think the racing commission needs to take a long look at this,'' Stolle said. He noted that the commission had relied on Stansley's success with tracks elsewhere when it awarded the license.
Recalling the saying ``lie down with dogs, you get up with fleas,'' Stolle said, ``I think Virginia needs to look at whether or not we're picking up any fleas.''
Trinity Meadows, a track in Willow Park, Texas, near Fort Worth, opened for parimutuel betting in 1991 with a basic facility, a meager budget and no competition in a lucrative sports marketplace. For a while, the track did well.
Stansley is a 9 percent investor in the track and operates the concessions there. His brother-in-law, Jack Lenavitt, is a managing partner. The Virginia Racing Commission granted Stansley the Colonial Downs license in part because of his "proven record of success in the operation and management" of Trinity Meadows.
But in May, a simulcast racing pavilion called Lone Star Park opened at Grand Prairie, 40 miles east, and Trinity Meadows has been struggling ever since.
Texas racing officials attributed the track's shutdown to financial problems and an ongoing court battle between its owners, including Stansley's brother-in-law, for control of the track.
Track management blamed the competition from Lone Star Park.
For the moment at least, the shutdown does not threaten Trinity Meadows' license. The track simply canceled its last 20 racing dates and halted wagering. About 200 people will be laid off.
In Virginia, Stansley would not have competition. But Stolle said that shouldn't allay Virginia's concern.
``It does not reflect very well on their ability to assess the financial situation,'' he said.
While Price said Trinity Meadows' closing doesn't affect Colonial Downs, he acknowledged the Texas track's former success might have mattered to Virginia racing commissioners when they awarded the license to Stansley.
``When he received the license here, he was an investor in Trinity Meadows,'' Price said. ``At that time it was the only racetrack in Texas showing a profit.''
Stansley, who operates a harness-racing track in Toledo, Ohio, could not be reached for comment.
The Associated Press contributed to this report.
LENGTH: Medium: 70 lines KEYWORDS: HORSE RACINGby CNB