In Chicago, a group led by real estate developer Philip Goldberg recently signed a contract to purchase Balmoral Park racetrack in nearby Crete Township from New York-based HITS Inc., which has hosted show horse productions at the historic track. The track was closed four years ago and eventually sold in bankruptcy proceedings; no sale price was announced.
Goldberg said his group plans to bring harness racing back to Balmoral, “one of the most unique properties in Chicagoland. It deserves to be put back into action.. Our plans include making it a premier sports and entertainment venue that Chicagoland and the south suburbs deserve.”
Reopening the track would require Illinois lawmakers to amend the state’s new gaming expansion law to allow racing in Crete Township. The new law, which allows the state’s three existing racetracks to apply for casino licenses, also allows a new harness track—but it only can open in one of a handful of townships in southern Cook County. Balmoral is in Will County.
State Rep. Thaddeus Jones introduced an amendment on the final day of the November veto session that would have included Crete Township in the gambling law, but the bill failed. Jones said, “I want the plan for Balmoral tied to whatever Chicago’s going to do. Everyone wanted to make some changes to that casino bill. This bill we’re asking for makes sense. There’s already a track there. There’s already room for a casino. This is going to transform the area if it’s done right. I have a lot of confidence we can do it and bring immediate development.” Jones said officials from 11 communities around Balmoral signed a letter supporting reopening the racetrack.
Not everyone supports the move. Skeptics include the Illinois Harness Horsemen’s Association. The group’s Executive Director Tony Somone said, “There’s a shroud of mystery that is concerning. Who is Phil Goldberg? He’s not a racetrack person, not a gaming person. We’d like to work together with this group, but we don’t really know who we’re dealing with.”
In addition, Goldberg’s plan could face opposition from other communities competing for a casino license in southern Cook County. Some were disappointed when developer Rick Heidner’s Tinley Park racino plans fell through. Heidner’s name turned up in federal search warrants in October when agents raided state Senator Martin Sandoval’s home and offices as part of a corruption investigation. That led to Governor J.D. Pritzker’s refusal to sell state-owned land that would have been part of the project.
Others say Goldberg’s group has not contacted the horsemen about their Balmoral proposal. “If there’s any way this can work out, I think it would be terrific. We have a lot of horsemen who live within 10 or 20 miles of there, and it was very successful for a long time. I’m interested in making it work, but there are a lot of hoops to jump through,” said an unidentified source.
In 2016, Heidner placed the high bid of $1.8 million to buy Balmoral Park out of bankruptcy. He lost out to HITS’ $1.6 million bid. Balmoral’s owners filed for bankruptcy when they were served with an $82 million judgment in a federal lawsuit brought by several state casinos. The casinos claimed a Balmoral executive agreed to bribe ex-Governor Rod Blagojevich to sign legislation forcing the casinos to share a portion of their revenue with Illinois’ struggling horseracing industry.
Goldberg said neither Heidner nor any previous Balmoral owners have a stake in his proposal.
Crete Village President Michael Einhorn said Balmoral, opened in 1926 as Lincoln Fields, has been an economic booster and a home to generations of horseracing families. “It just means a lot to this economy. This would be a nice addition. We should be given the opportunity to throw our hat in the ring. That’s what we’re asking for. If people give us the opportunity, we think we have something that no one else has,” Einhorn said.
