Pompano Park Renovations Begin

As reported by the South Florida Business Journal: "Suburban Pompano Beach is getting a 'racino' as its harness race track slowly morphs into a combination racetrack and casino.

"It could have been bigger. Some scaling back has been necessary because of the 50 percent state tax bite - plus license fees - on future gambling revenue, according to track officials.

"Now, plans are on hold for a 450-room, four-star hotel and a 250-room budget hotel on the Pompano Park property.

"In March, a development plan was announced for a 157,000-square-foot racino complex that is estimated to cost $140 million, said Tim Hinckly, president and COO of Pompano Park's owner, Isle of Capri Casinos (NASDAQ: ISLE).

"…The new racino complex will be a bit of upscale Las Vegas in South Florida, with action, light and sound. It will hold a gaming arena with 1,500 slot machines for 16-hour-a-day play, a multi-story feature bar with high-imagery audio and video, a high-tech sports bar, expanded simultaneous off-track betting facilities, an expanded poker parlor and four restaurants. Completion is targeted for late 2006 or early 2007…"

2006-06-13