| | Business Summary | | International
Thoroughbred
Breeders,
Inc.
(ITB),
incorporated
on
October
31,
1980,
is
a
holding
company.
Until
January
28,
1999,
when
the
Company
completed
the
sale
of
Freehold
Raceway,
the
sale
of
a
10-acre
parcel
at
Garden
State
Park
and
the
lease
of
the
Garden
State
Park
facilities
to
subsidiaries
of
Greenwood
Racing,
Inc.,
(the
Greenwood
Transaction),
ITB
was
primarily
engaged,
through
its
operating
subsidiaries,
in
the
ownership
and
operation
of
standard-bred
and
thoroughbred
racetracks
in
New
Jersey.
Additionally,
until
May
22,
2000,
when
the
Company
completed
the
sale
of
the
non-operating
former
El
Rancho
Hotel
and
Casino,
the
Company
was
engaged
in
the
ownership
of
a
non-operating
casino
property
in
Las
Vegas,
Nevada. | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | International
Thoroughbred
Breeders
is
principally
engaged
in
the
ownership
of
a
non-operating
casino
property
in
Las
Vegas,
Nevada,
the
El
Rancho
Hotel
and
Casino.
For
the
nine
months
ended
3/31/01,
total
revenues
fell
25%
to
$198
thousand.
Net
loss
decreased
52%
to
$3
million.
Revenues
reflect
reduced
rental
income
due
to
the
sale
of
Garden
State
Park.
Lower
loss
reflects
the
absence
of
El
Rancho
Property
carrying
costs
and
reduced
financing
expenses. | | More
from
Market Guide: Significant
Developments |
| | Officers | | | FY2000 Pay | |
| Francis Murray, 59
Chairman,
Pres, Acting CEO | $151K | William Warner, 55
Sec.,
Treasurer | 137K | Christine Rice Newell, 55
Assistant
Treasurer, Controller | 98K | | Dollar amounts are as of 30-June-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
