Investors in will apply Wednesday to the New Mexico Racing Commission for a horse-racing track and casino license in Tucumcari, reported the Clovis News-Journal.
Coronado Partners’ plans to develop the $60 million Coronado Park on 300-acres, featuring live racing from May to August each year during the heart of the triple-crown racing season nationally, and 600-slot casino within Tucumcari city limits on Historic Route 66 and I-40. The site’s location within the city limits means that all utilities and ancillary infrastructure are now available. […]
While no specific timetable for evaluation of its application has been established, Coronado Partners believes it has made a strong case for the viability of Coronado Park in Tucumcari.
“At this time we believe we are the only entity to apply for the license,” Frost said. “There are still six more weeks left in the application progress.” […]
If approved, Coronado Park plans to open for the 2013 racing season featuring a 56-day meet.
Tucumcari applied for a racetrack-casino license in 2008, but lost to Raton. However, the casino in Raton never opened. The state then voided Raton’s license.
Investors claim a “racino” will create 300 jobs with an annual payroll of $9 million in Tucumcari. Although a racetrack and casino sound like a boon, such rosy forecasts seldom prove accurate.
And with horse-racing seeing a general decline nationwide, it might be prudent for Tucumcari boosters to scale back their expectations a bit.
UPDATE 6/20/2011: The Albuquerque Journal also posted a story about the license application by Tucumcari.