New owner for Pimlico, Laurel?
I mentioned Halsey Minor in my column the other day. He's the wealthy investor with eyes on taking ownership of Pimlico and Laurel. On Oct. 17, he made a public overture to the directors of of MI Developments, the parent of Magna Entertainment Corp., which owns the Maryland tracks. Minor is willing to take on more than $220 million in loans Magna owes MID. He is opposed to the legalization of slots here and thinks he knows how to generate new business and revenue for the tracks without them. He seems to have big ideas and a genuine vision for a revival of the tracks. And he has the biz cred. "I have a deep personal interest in the horse racing industry and a long history of creating profitable business ventures," he told MID. "I founded CNET, one of the Internet's first companies to achieve profitability and a NASDAQ 100 designation, and also developed two other CNET spin-off ventures which became successful, publicly-traded entities. CNET was sold to CBS on June 30, 2008. I was also the founding and largest investor in salesforce.com, one of the most successful technology companies over the past eight years."
Minor responded by e-mail to a message I left at his San Francisco office the other day, saying he was in a "quiet period" now, waiting for the slots matter to settle. "The slots outcome will necessitate different strategies. When I am ready to go public I will get back in touch."
But bloggers called the Bug Boys flushed Minor out a bit last week. You can read what Minor told them, by clicking here. Alan Heitner, one of the bloggers on that site, says: "Mr. Minor found us. We put up a post saying, 'If not slots, what is your plan?' And he actually gave us an answer. This is the beauty of the Internet and blogging. Two dopey bloggers can be involved in generating real news."







Comments
I spoke with Halsey Minor back in early October. He's the real deal. His idea is to collapse Magna into receivership and take over all of the equity, ending with full control of ALL of the Magna properties.
And he says slots won't work.
How, how, how does this story NOT get onto the front page of the paper? I just don't get it.
Posted by: Aaron Meisner | October 29, 2008 10:42 PM
Does this mean even if slots pass there is a chance that Mr. Minor could still buy Pimlico and Laurel. It certainly would be a great thing for Maryland racing.
Posted by: Michael Fisher | October 30, 2008 5:33 PM