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After 32 years, Guam Greyhound shuts down
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Posted on Nov 07 2008
[B]TAMUNING, Guam[/B]—After thirty-two years as a visitor attraction and entertainment venue in Guam, the Guam Greyhound is closing effective immediately, according to a statement issued yesterday by its owner.
Guam Greyhound owner John Baldwin of Bridge Capital LLC said all activities, including bingo and greyhound racing, are being suspended, and most employees will be laid off as of yesterday, Nov. 7.
Despite the new investment of millions of dollars on improvements to the facility in the past two years, and a number of innovations, promotional programs and marketing efforts, Baldwin said the business is not profitable.
“Guam Greyhound has a wonderful staff, a large number of whom have been with the company for many years, and I am very sorry to have to take this step,” Baldwin stated. “ Guam has declining tourism and this drop in tourist numbers has really hurt Guam Greyhound.”
Baldwin said the property is being listed with Chris Felix of Century 21 and Janet Calvo of Today’s Realty for $15,900,000. This includes the track and Duty Free leased facilities, as well as excess land. He added that he will consider joint ventures with parties interested in re-opening the facility or developing it into some other kind of business, as well as an outright sale of the business. Those parties should contact one of the listing agents with their ideas, or contact EJ Calvo at ejc@bcguam.com, or Jon Anderson, at jaa@bccnmi.com.
Guam Greyhound first opened for dog racing in August, 1977. Over the years hundreds of thousands of tourists and residents have patronized the track, contributing millions to the Government of Guam in taxes and fees and adding a unique attraction to the variety of entertainment options available to our visitors. Baldwin purchased the track in March of 2006. [B](PR)[/B]
