Churchill Joins NYRA, TVG in New York Bidding
Updated: Thursday, March 29, 2001 2:55 PM
Posted: Tuesday, March 27, 2001 9:36 AM
Churchill Downs president Tom Meeker, who said partnership will strengthen bid for New York OTB.
Churchill Downs Inc. ended weeks of speculation Tuesday when it confirmed it has joined the New York Racing Association and the TV Games Network in a bid to purchase New York City Off-Track Betting Corp.
Churchill Downs Inc. has withdrawn the bid it previously submitted on its own behalf to the New York City Development Corp., which is overseeing the possible sale of New York City OTB. Action on the bids is expected soon, officials have said.
"We have strong relationships with both NYRA and TVG, and we are pleased to join them in the endeavor to purchase NYCOTB," Churchill Downs Inc. president Tom Meeker said in a statement. "Each member of this new partnership brings unique strengths to the table that, together, make our bid for NYCOTB even more beneficial to the racing industry and to the city of New York."
Said Barry Schwartz, chairman of NYRA: "We are delighted that Churchill Downs has agreed to join our bid. We believe that the combination of CDI, NYRA, and TVG makes a powerful team. This partnership would be beneficial to racing in New York in a meaningful way for both the fans and the horsemen."
Another major bidder for New York City OTB is the partnership of Magna Entertainment Corp., Greenwood Racing, and Thoroughbred owners Robert Baker and William Mack. The Magna-led group has hired a lobbyist to help its cause in Albany, the New York capital.
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