Demolition crews hired by the Bears begin knocking down the grandstand at the former Arlington International Racecourse on June 16, 2023, in Arlington Heights. During my years as a Tribune sports writer, I covered the Kentucky Derby 33 times and considered it to be one of the most interesting and rewarding experiences of my long career.
and three partners in 1983. In the aftermath of the fire that destroyed the clubhouse and grandstand in 1985, Duchossois bought out his partners in February 1986 and rebuilt Arlington in 1988. After Arlington reopened in 1989, Architectural Digest acclaimed it as “the world’s most beautiful racetrack.”
The merger made Duchossois Industries by far the biggest shareholder in the parent company. A string was attached that the share would increase to 31.8% if the litigation-snarled Rosemont casino opened within a few years and — as mandated by the legislature — funneled a portion of its adjusted gross revenue to the state’s racetracks, with Arlington receiving the biggest subsidy. Duchossois Industries also was awarded three seats on the CDI board of directors.
An obvious proponent of Milton Friedman’s economic philosophy that the sole purpose of a corporation is to increase its profits, Carstanjen shifted CDI’s traditional emphasis on racing to a focus on casino gambling, and in 2018 Arlington’s parent company acquired its 62% interest in Rivers Casino. The consensus is that in addition to prohibiting gambling on the property, the new deal with the Bears included a tacit agreement not to conduct betting on races. Instead the football team planned a $5 billion development with an enclosed stadium, housing and entertainment.replacement for Soldier Field on the Chicago lakefront
To perpetuate casino gambling, CDI persuaded regulators to substitute parimutuel betting at the jai alai fronton it had built on the premises for the rule that stipulated 40 days of betting on horses. Trying to undermine Hawthorne was a constant when CDI controlled Arlington. In 2012 its racetrack subsidiary Churchill Downs instituted a qualifying race system to determine the field for the Kentucky Derby. Conspicuous by its absence from the list was the most prestigious dirt race in Illinois, the Illinois Derby at Hawthorne. Making the omission more glaring was that 2002 Illinois Derby winner War Emblem went on to win the Kentucky Derby and Preakness.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: fox32news - 🏆 547. / 51 Read more »
Source: fox32news - 🏆 547. / 51 Read more »
Source: sdut - 🏆 5. / 95 Read more »
Source: AP - 🏆 728. / 51 Read more »
Source: chicagotribune - 🏆 8. / 91 Read more »
Source: chicagotribune - 🏆 8. / 91 Read more »