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Gov’t will sell Caymanas Park but not cheaply, says Dalley

Thursday, August 23, 2012 | 5:47 PM    

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KINGSTON, Jamaica — Minister without Portfolio in the Ministry of Finance, Horace Dalley, says the Government is fully committed to the divestment of Caymanas Park but it is not prepared to “give it away.”

Dalley, while addressing stakeholders at a Horse racing Summit in Kingston today said, “the most challenging and immediate issue facing the racing industry is what to do with Caymanas Track Limited and how it should be done.”

“Anybody who is ‘bruck’, don’t come to the Government about wanting to take over the race track,” said Dalley.

“It is not going to be anything where we are going to ‘hug up’ your investment or your business for another 10 to 15 years.”

 Dalley insisted that there would be no grace period, incentives or concession. “Come with your money, take the business, and run it. We have no interest in keeping Caymanas Park,” he said.

 

The junior minister emphasised the government does not intend to be a part of the future ownership of the race track, but added that before divestment, “we must be aware and must be assured, that investors, local or foreign, who come to the table to take ownership of Caymanas Park, must have the capacity to either improve the racing plant substantially and at the same time they must demonstrate their ability to operate such a facility on a sustained basis. We intend to retreat to our rightful place as being regulators and not owners.”

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