Hamilton: CTL needs quick cash

Hamilton

NEWLY appointed chairman of Caymanas Track Limited (CTL), Howard Hamilton says the company urgently needs cash for structural improvement at Caymanas Park.

Hamilton, whose tenure as chairman took effect from June 1 when the new board of CTL was put in place, said funds are urgently needed to carry out immediate repairs to roads within the Caymanas Park complex, as well as drainage, water supplies, track maintenance and expansion of OTB stations islandwide.

A prominent owner and breeder, Hamilton said one of the fastest ways to obtain funds is to increase the number of opportunities the punter has to wager.

In light of this, CTL has applied to the Betting, Gaming and Lotteries Commission to have simulcast racing from US-based tracks during local racing with the hope of putting on eight additional races both at the track and OTB stations.

"This should increase our revenue by 30 percent and provide additional income to supplement the current purse structure," he explained.

"We also want to see a different relationship with those bookmakers who have had the good sense to computerise their operations. We hope to be able to negotiate with them the taking of of bets during local racing on a race by race basis."

According to the chairman, betting shops are required to close at 12 noon on local race days. However, under the new proposal (if accepted) permission would be given for these shops (computerised) to remain open for business on Saturdays and Wednesdays during local racing.

Hamilton is hoping that the Betting, Gaming and Lotteries Commission will deal with the proposals expeditiously. He said rather than approach the government at this time, the new board has taken the initiative to find ways and means of increasing funds for CTL on a short and medium term basis.

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