EUTAW, AL- The Board of Directors of Greenetrack, Inc. held a Press Conference on December 30th at 11.am to announce the distribution of Greenetrack stock to current employees who have been employed at Greenetrack for at least 5 years. The Board’s Chair and CEO, Luther Winn, Jr. stated that Greenetrack shareholders voted by an overwhelming majority to do for the current employees what had been done for them years ago.
Winn stated that 60 employees will be added as company shareholders. “This is effective immediately, we are just completing the paperwork,” he said.
“The company is following a precedent established by the previous owners of the Greene County Greyhound Racetrack, who in 1995, gave shares of the newly formed Greenetrack to 70 employees who were employed with the company at that specific time,” he stated.
According to Winn, “The shares of stock are being given at this time as a show of appreciation to employees who have gone above and beyond the call of duty in past years and that the 5 year time frame was chosen because it was during this time that other employment opportunities became available in the community and in spite of these opportunities, our employees remained steadfast and committed to our success.”
Winn continued by stating that the generosity of the company comes during a time when the world itself is in turmoil because of the pandemic. “The board’s generosity comes during a time when there is uncertainty about our future. And it is a sincere show of appreciation for they could have stayed home and received government assistance that was more than they were currently being paid at Greenetrack, but they chose to return to work. Winn explained that these new shareholders chose to endure this struggle with us. “It is our hope that they will truly know that we care and we are committed as a company to their financial success as well as the financial success of our community.”
When asked the value of the Greenetrack shares, Winn clarified that he has engaged a Tennessee company to conduct an evaluation to determine the value of the stock.
Winn also noted that should the State of Alabama approve an overall gaming bill, probably including a state gaming commission, this would not affect the status of the Greenetrack shareholders’ arrangement with the company.
Several Greenetrack employees who are among the 60 new shareholders commented that they are grateful for the recognition of their service as well as for the financial benefit for their families.
“I am so glad I decided to remain on the job, even when the federal supplements were being given,” said Ms. Jackie Cunningham, a 14 year employee with Greenetrack.
Ms. Alexina Hutton Powell, a 17 year employee, said she had no thoughts of leaving because she knew those payments would not last and she enjoyed her work very much.
Ms. Rosalind James, who has been employed at Greenetrack 15 years, commented that this opportunity for financial advancement means a great deal to her family. “All I can say is I am very grateful,” she said.