MEC’s explanation for its bankruptcy filing raises more questions than it answers.

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Each racetrack must carve out its own business model, built around its particular external environment and internal strengths, in order to continue on in business. In other words, racing does not have a business model per se, but rather, it has business models, just as Wal-Mart, Nordstrom, Target, etc. have their own templates that made them outstanding.

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“The most brilliant strategist cannot reverse the irreversible.”

William L. Shanklin, Horse Racing Business

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