Bedford Downs Enters the Home Stretch in Quest for Licensing Approval; Lawrence County Contender Makes Its Case Before PA Harness Racing Commission on September 8.

NEW CASTLE, Pa. -- Betting on the One-Mile Track to Drive Revenue and Jobs

More than a year after announcing its plan to turn 550 acres of shovel-ready land into a multi-million dollar racing, gaming and entertainment complex, Bedford Downs Management Corporation will make its case to the State Harness Racing Commission on Wednesday, September 8.

An hour-long presentation, beginning at 9:00 am, will take place on the site of the proposed track near New Castle, Pa. A presentation by Bedford Downs CEO and President Carmen Shick will be supported by racing experts, state officials and Lawrence County leaders and residents in making the case for Bedford Downs. Shick is expected to focus on Bedford's one-mile track - and the advantage it offers in attracting top breeders, premiere races and more fans - as the project's key differentiator.

The outcome of this presentation will have long-term economic implications that will affect the entire racing industry, the Commonwealth and the local community. According to Shick, the Bedford Downs proposal offers the most value to each of these constituencies.

"Our position is clear and, we believe, unassailable," says Shick. "Simply stated, we believe that Bedford is better - better for racing, better for Pennsylvania and better for the people of Lawrence County."

As proof points for this claim, Shick will present the following comparisons to the committee:

1. Bedford Downs is the only applicant among the three remaining contenders that offers a one-mile track, a critical factor in attracting the best horses, the premier races and generating the biggest purses. Currently, there are no one-mile tracks in Pennsylvania.

2. At 550 acres, the Bedford Downs site is the largest site under consideration, offering a 200,000+ sq. ft. grandstand/gaming center and eating capacity for 10,000 spectators, versus a 92,000 sq. ft. grandstand and 3,500 seating capacity proposed by the next largest competitor. Bedford Downs is the only site that comfortably allows for a second stage of development, which will include a full-service hotel and convention facilities, as well as recreation and retail attractions.

3. Bedford Downs will generate approximately $134.3 million in annual net benefit to the state- $32 million more than the amount expected by the competition.

4. Bedford Downs requires no public funding.

5. Bedford Downs will generate 700 jobs during the first 12-month phase of development and more than 5,000 jobs over the course of the project, providing long-term stimulus for a region hard hit by a stagnant economy.

The project has earned across-the-board endorsement of racing industry luminaries, state and local officials and Lawrence County residents. Says Shick, "We have more than 12,000 letters of support from legislators and community, civic and business leaders throughout the Commonwealth, as well as the endorsement of many racing industry experts and horsemen."

The racing industry's enthusiasm for the project will be effectively demonstrated when 1996 Breeders Crown Champion and 1997 Hambletonian winner Mal Burroughs joins Shick at the presentation to the commissioners. Burroughs, who built New Jersey's Meadowlands Racetrack, was an early supporter of the Bedford Downs vision.

"The combination of a mile-long track and a uniquely integrated racing, gaming and entertainment experience makes Bedford Downs the premiere facility," says Burroughs. "I can unequivocally state that Bedford Downs will attract the best drivers, the best horses, the big purses and races like the Breeders Crown and the Hambletonian."

Conveniently located near several major highways, Bedford Downs will be accessible to some 6.5 million people within a 75-mile radius, and it is within reasonable driving distance from major cities within surrounding states.

Construction will begin upon granting the license. Weather permitting, the first phase is scheduled for completion in 12 months.

To assist in start-up, Bedford Downs Management Corporation has created a Best of Breed management team, comprised of a number of well-known and highly-regarded experts from the racing and gaming industries.

In addition to Carmen Shick, Bedford Downs Management Corporation includes his brother, Kenneth Shick III and his sister, Kendra Tabak. All reside near New Castle, PA. Carmen Shick is also president of Ambrosia Enterprises, located in Edinburg, PA. Their grandfather founded the company in the 1940s, which today employs hundreds throughout the Lawrence County area.

Long-time community boosters, the Shick family continues its tradition of supporting the charities, organizations and initiatives that strengthen the community fabric. In that spirit, the Bedford Downs Management Corporation has pledged to donate 1% of its annual net benefit to the Pennsylvania War Veterans Council.

A licensing decision from the Pennsylvania State Harness Racing Commission is expected in first quarter 2005.