Re(3): 1968 Strike Posted on June 26, 2020 at 11:46:18 PM by MJAFANALWAYS
I recall the late 80s strike, not the 60s. The former IMO was doomed from the start.
Simply put, US jai alai as a business was past its best days. Other gambling options were arriving, first lotteries, than the 2 Ct casinos. Owners could simply cash in their chips, close, and be better off. Add in a factor players never considered and I saw a few in my area during the strike, and brought it up, and no one wanted to recognize it. It has to do with Milford Jai Alai (even though not officially struck). It happened to be choice real estate. It was clear it would fetch many millions as property to be sold (about $12.5m is what it got just after closing.). That matters, as with Zeff wanting a casino, not jai alai, and Berenson not about to subsidize a losing business, the only Ct jai alai with a reasonable size fan base also was viable simply as land. It was one small block from US1 and a big mall. The largest big box retailer wanted it after it closed, but needed city or state to buy a adjacent property closed factory with environmental issues to then flip it to Wal Mart and pair with the jai alai property. That did not occur, but another developer bought it from the city who had originally bought it-for over a million more than the $12.5m. So not only did players need to insure jai alai was profitable, but also needed it to be more attractive than alternative property uses also. A double whammy. Replies: There have been no replies.
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