Just days before the opening of the Resorts World Casino at Aqueduct, the New York Breeding and Development Fund announced a sharp increase in breeders’ awards for 2012.
The video lottery terminal casino at the New York Racing Association track is set to open Oct. 28. A few thousand VLTs will be available when the casino opens, though more will be added later as work on the facility continues.
Revenue from the machines is expected to eventually add more than $30 million a year to purses at the three NYRA racetracks, according to some estimates.
The NYBDF said Oct. 24 there will be 50% across-the-board increases in awards next year.
Currently, for all races run in New York State, New York-sired New York-bred runners earn 20% of the winner’s portion of the purse for first place, and 10% for second and third. In 2012 the awards will increase to 30%, 15% and 15%, respectively.
The current levels for non New York-sired New York-bred runners will increase from 10%, 5% and 5% for first, second, and third to 15%, 7.5% and 7.5 %.
Also, the NYBDF will increase the earnings cap for New York-sired New York-bred horses in 2012 by 300%--from $10,000 per award to $40,000. The cap for non-New York-sired New York-bred runners will increase 100% from $10,000 to $20,000 per award.
Increases in awards were expected, though earlier this year officials said they didn’t have a handle on how much would be available for 2012.
“Raising the breeders’ awards percentages is yet another message to breeders across the country that New York is open for business and the incentives and purses here are up for grabs,” said Jeffrey Cannizzo, executive director of the New York Thoroughbred Breeders. “If you have mares and are contemplating the move, simply take a look at the numbers: 600-plus restricted races with $35 million-plus in state-bred purses and an incentive breeding fund worth upwards of $17 million in 2012.”
Cannizzo said the increases should “further increase the net worth of New York-bred foals.” In recent months several breeding operations have moved stallions to New York.