Gateway done!

JWhalen58 · 11-04-2010, 01:54 PM

Bret, not too many years ago there were 3 tracks, gateway-peavly-wentzville, now none. What do you think happened?

Bret Kepner · 11-04-2010, 06:47 PM

Quote:

Originally Posted by JWhalen58

Bret, not too many years ago there were 3 tracks, gateway-peavly-wentzville, now none. What do you think happened?

Ummm....they all closed? LOL!

There have been ten tracks within forty miles of the Gateway Arch and all have closed. It's the circle of life.

I have to agree with Andy's dad; it's just the closing of a dragstrip. I had a close friend say to me, (about Gateway), "Wow! That's gotta be like watching your house get demolished!". I replied, "Nah. I've actually watched my house get demolished. This is just a dragstrip closing".

JWhalen58 · 11-04-2010, 07:20 PM

Ok, besides the ones I already named I think there was one at St Genevieve, Alton, you may be counting White Hall but I think it is farther away than that, that is all I can come up with.

Adger Smith · 11-04-2010, 10:17 PM

Bret,
Back about 10 years ago you and Tom were on a mission to locate/cataloge all known closed tracks in the country. How did that turn out? Care to add Memphis and Gateway to your works? :~)
I agree with Andys Dad that you could manage and run a facility and show up some of these Corp. know it all's. As a former track owner/operator I have the ego and drive that says: it can be done!!
But sometimes businesses (race tracks included) are built and the finances set up with the intention of closing at some time down the road. Just one case I know about: Go back in the 70's and look at the corp that built Dallas International. I have some worthless paper that was stock in that venture. HA! Anybody want to give me face value on it?

Bret Kepner · 11-04-2010, 11:09 PM

Whalen, PM sent to you; I wasn't counting White Hall since it was sixty miles out.

Adger, it's still a work in progress but it's closer to being done than ever.

As for Gateway, anybody who can come up with a way to make money with $4.3M in taxes in place each year before the gates ever open is more than welcome to buy the place and give it a shot.

Greg Hill · 11-05-2010, 08:52 AM

The way to make money is to buy the place at auction and get the taxes reduced based on what you paid for it. The best run racetracks that I see are owner operated tracks with little or no debt. When large corporations get in the race track business their expectations of return are generally not met. How many drag strips in the country could service 20 or 30 million in debt and make a profit?

k.pascoe · 11-05-2010, 09:49 AM

To be honest with you guys and gals. The place went to hell as soon as they built the new facility. The old track always had better personality, and it always hooked harder!! I could go down the old track with my eyes closed, many times we did. (no lights from 800 ft. on down on many Sat. nights).

Bret, Someone needs to call the SCCA to bale out the Swamp again!!!

11-04-2010, 01:54 PM	#1
JWhalen58 Member Join Date: Aug 2010 Posts: 110 Likes: 7 Liked 117 Times in 21 Posts	Re: Gateway done! Bret, not too many years ago there were 3 tracks, gateway-peavly-wentzville, now none. What do you think happened?

11-04-2010, 07:20 PM	#3
JWhalen58 Member Join Date: Aug 2010 Posts: 110 Likes: 7 Liked 117 Times in 21 Posts	Re: Gateway done! Ok, besides the ones I already named I think there was one at St Genevieve, Alton, you may be counting White Hall but I think it is farther away than that, that is all I can come up with.

11-04-2010, 10:17 PM	#4
Adger Smith VIP Member Join Date: Dec 2001 Location: Texarkana Ark/TX Posts: 2,446 Likes: 575 Liked 880 Times in 311 Posts	Re: Gateway done! Bret, Back about 10 years ago you and Tom were on a mission to locate/cataloge all known closed tracks in the country. How did that turn out? Care to add Memphis and Gateway to your works? :~) I agree with Andys Dad that you could manage and run a facility and show up some of these Corp. know it all's. As a former track owner/operator I have the ego and drive that says: it can be done!! But sometimes businesses (race tracks included) are built and the finances set up with the intention of closing at some time down the road. Just one case I know about: Go back in the 70's and look at the corp that built Dallas International. I have some worthless paper that was stock in that venture. HA! Anybody want to give me face value on it? __________________ Adger Smith (Former SS)

11-04-2010, 11:09 PM	#5
Bret Kepner Member Join Date: Dec 2008 Location: Saint Louis, Missouri, USA Posts: 418 Likes: 1 Liked 11 Times in 2 Posts	Re: Gateway done! Whalen, PM sent to you; I wasn't counting White Hall since it was sixty miles out. Adger, it's still a work in progress but it's closer to being done than ever. As for Gateway, anybody who can come up with a way to make money with $4.3M in taxes in place each year before the gates ever open is more than welcome to buy the place and give it a shot. __________________ Bret Kepner BRETKEPNER@Prodigy.net Saint Louis, Missouri, USA

11-05-2010, 08:52 AM	#6
Greg Hill VIP Member Join Date: May 2006 Location: Louisville , KY Posts: 1,995 Likes: 68 Liked 279 Times in 68 Posts	Re: Gateway done! The way to make money is to buy the place at auction and get the taxes reduced based on what you paid for it. The best run racetracks that I see are owner operated tracks with little or no debt. When large corporations get in the race track business their expectations of return are generally not met. How many drag strips in the country could service 20 or 30 million in debt and make a profit? __________________ Greg Hill 4171 STK

11-05-2010, 09:49 AM	#7
k.pascoe Member Join Date: Aug 2008 Location: Fenton, Missouri Posts: 107 Likes: 0 Liked 0 Times in 0 Posts	Re: Gateway done! To be honest with you guys and gals. The place went to hell as soon as they built the new facility. The old track always had better personality, and it always hooked harder!! I could go down the old track with my eyes closed, many times we did. (no lights from 800 ft. on down on many Sat. nights). Bret, Someone needs to call the SCCA to bale out the Swamp again!!! Last edited by k.pascoe; 11-05-2010 at 09:53 AM.