Gulfstream Park’s Racing Future at Risk as Decoupling Bill Looms

Gulfstream Park, a prominent horse racing venue in Hallandale Beach, Florida, faces an uncertain future. The Stronach Group, which owns the facility, has warned that live thoroughbred racing at the track may end by 2028 unless state lawmakers approve a controversial bill that would decouple the track’s casino and racing licenses. This legislation would allow Gulfstream to continue operating its casino without the legal obligation to host live races, potentially bringing an end to a longstanding tradition of racing in South Florida.

Proposed legislation and impact on Gulfstream’s operations:

The Stronach Group has proposed a plan to keep Gulfstream Park operational for another three years, contingent on the passage of Florida House Bill 105. This bill, introduced earlier this month, would effectively decouple the track’s casino license from its racing operations. Currently, Florida law mandates that racetracks with casinos must host a minimum of 40 live racing days annually to maintain their casino operations. The new law would eliminate this requirement, permitting Gulfstream to continue its lucrative casino business while ceasing its racing activities.

Keith Brackpool, an advisor for the Stronach Group, confirmed that the track would maintain racing operations through 2028 if the bill passes. However, he made it clear that beyond that, no guarantees could be made. “If this legislation doesn’t pass, there’s no commitment to continue racing beyond 2028,” Brackpool told a meeting of Florida horsemen.

The proposal has sparked significant concerns among local horse trainers and owners, who are worried about the future of Gulfstream Park’s racing legacy. Dale Romans, a respected trainer who spends part of the year at Gulfstream, expressed his frustration with the potential end of racing. “It felt like they were saying, ‘Take this deal, or we might close anytime,’” Romans said.

Trainers in attendance at the meeting voiced their dissatisfaction with the lack of concrete promises from the Stronach Group. They argued that three more years of racing was far from a sustainable solution. “Three years is nothing,” said Romans, emphasizing the uncertainty that the proposal would create for the horse racing community, as reported by Paulick Report.

The Stronach Group’s proposal hinges on the ability to expand its casino operations and potentially build a hotel on the Gulfstream property. This would increase revenue, which, in theory, could be used to support racing operations. However, Brackpool acknowledged that if the decoupling bill passes, it would eliminate the need for racing to continue at the track, giving the Stronach Group the freedom to explore alternative uses for the land.

The Economic and Real Estate Potential of Gulfstream Park

Gulfstream Park is situated on prime real estate in Hallandale Beach, a location that, according to Daily Racing Form, has become highly valuable as the area has seen rapid development. While the property’s worth is difficult to quantify precisely, estimates suggest that Gulfstream’s 250-acre site, with 140 acres currently used for racing, could be valued at over $1 billion.

The Stronach Group has been exploring opportunities for redevelopment, with potential plans to invest in a new casino and hotel complex. The company has also suggested that relocating or building a new facility further inland in Florida, potentially near Ocala, might be part of their long-term strategy. However, this would only be possible if the decoupling bill passes and the group is free from the financial constraints tied to maintaining live racing.

Florida’s current regulatory framework forces tracks like Gulfstream to run live races if they wish to operate a casino. House Bill 105, introduced by Rep. Adam Anderson, would remove this requirement and allow tracks to separate their casino and racing operations. The bill has already garnered some support from local horsemen who see it as a lifeline to keep Gulfstream operational. However, the proposal has faced strong opposition from national horsemen’s organizations, such as the National Horsemen’s Benevolent and Protective Association, which argue that decoupling could undermine the future of horse racing in Florida.

While Gulfstream is currently the only active thoroughbred racetrack in South Florida, the decision to decouple could have wider implications for the state’s racing industry. If the bill passes, it could set a precedent for other tracks to decouple their casino and racing licenses, further diminishing the role of live racing in Florida’s gambling landscape.

Gulfstream Park has long been a cornerstone of South Florida’s horse racing industry. Opened in 1939 and revitalized in the 1990s under Frank Stronach’s ownership, Gulfstream has hosted some of the most prestigious events in the sport, including the Florida Derby. However, with the decline of other tracks in the state, Gulfstream now stands as the sole remaining thoroughbred racetrack in the region.

While the Stronach Group remains committed to maintaining the racing tradition through 2028, the future beyond that remains clouded. The company’s ultimate decision will likely depend on the success of House Bill 105 and its ability to secure funding for redevelopment plans.

For now, the Florida Thoroughbred Horsemen’s Association (FTHA) and other stakeholders will continue to discuss the future of Gulfstream Park in the coming months. Another meeting has been scheduled at the Palm Meadows Training Center to further address these concerns, as horsemen seek clarity on the potential end of live racing at the track.