Governor says legislative action rejects major private investment and puts future of horse racing in the Territory in jeopardy
U.S. VIRGIN ISLANDS — Governor Albert Bryan Jr. issued the following statement Wednesday on the 36th Legislature’s action on Bill No. 36-0313, the proposed horse racing agreements between the Government of the Virgin Islands and Southland Gaming of the Virgin Islands:
“I am deeply disappointed by the Legislature’s action today, but there should be no confusion about what happened. The Legislature, led by Senate Majority Leader Kurt Vialet, has spoken.
“By moving Bill No. 36-0313 to the Committee on Budget, Appropriations and Finance rather than voting on the agreement, the Legislature has effectively killed it and rejected a substantial private investment in the future of horse racing in the Virgin Islands.
“This agreement was first sent to the Legislature in April. While negotiations were still active, my administration invited senators, horsemen and other stakeholders to bring forward their concerns and recommended changes. We took the issues presented to us back to Southland, negotiated revisions and submitted a new agreement. Members of the Legislature had every opportunity to engage in that process, and most did not.
“The Legislature’s role is to review the agreement, ask questions and vote. The authority to negotiate with a private investor rests with the Executive Branch. Moving the bill to committee cannot rewrite the agreement or compel Southland Gaming to accept new terms.
“Today, the Legislature made its decision.
“Time matters in a deal of this size. Costs rise. Circumstances change. Investors move on. Time kills deals.
The Executive Branch has done its part.
“In light of today’s action, Southland Gaming does not have a license to promote the September 6 race day, and I cannot reasonably consider moving forward with a temporary arrangement that would be inconsistent with the position the Legislature has now taken on the broader agreement.
“I thank Southland Gaming of the Virgin Islands for coming to the table and negotiating in good faith. The company remained willing to make a significant investment in rebuilding the Randall ‘Doc’ James Racetrack and supporting a sustainable future for horse racing in the Virgin Islands. I also thank the horsemen associations from both districts and all others who participated in the process and contributed to the negotiations.
“We pursued this agreement because it offered a path to restore horse racing without placing the financial burden on Virgin Islands taxpayers. That opportunity was placed before the Legislature. The Legislature has spoken. The consequences of that decision are now theirs to own.”
###
Comments are closed