The chairman of the New York Racing Association is blasting state officials for throwing up what he says is another roadblock to opening a racino at Aqueduct racetrack.
The New York Racing Association and Magna Entertainment Corp. again are discussing merger possibilities, two months after the NYRA board flatly rejected a bid by Frank Stronach's company to become financial partners.
As some lawmakers and off-track betting corporations push for an increase in pari-mutuel takeout, New York regulators March 30 agreed to lower the takeout on certain pick six wagers at New York Racing Association tracks.
Pari-mutuel takeout wars have begun in New York, where a state senator has introduced legislation to increase the amount the New York Racing Association keeps on wagers. Though the measure's sponsor said the takeout hike is needed to help stop NYRA's financial bleeding, NYRA chairman Barry Schwartz insists the legislation would turn off bettors and decrease purses.
Two weeks after floating its legislative proposal around the state Capitol, the New York Thoroughbred Horsemen's Association has found a legislator to introduce a measure that would force the New York Racing Association to reimburse millions of dollars it borrowed from the horsemen's purse account.
Magna Entertainment Corp., even though the New York Racing Association rejected its partnership proposal, continues to have a keen interest in New York racing, president Jim McAlpine said.
The New York Racing Association board of trustees has rejected a bid by Magna Entertainment Corp. to become financial partners, NYRA chairman Barry Schwartz said.
The New York Racing Association would be legally required to reimburse horsemen in the state for the millions it borrowed from their purse fund to pay for its operations, according to a proposal being quietly shopping around to state legislators.
A Manhattan law firm with broad investigative experience has been named by a federal judge to oversee the finances and operations of the New York Racing Association to ensure it is in compliance with an oversight process ordered last year by the U.S. Attorney's office.
State regulators have denied a 2004 racing application for troubled Vernon Downs, a Standardbred racetrack in central New York. The Feb. 27 ruling by the New York State Racing and Wagering Board prohibits racing at the facility and keeps shuttered a recently completed video lottery terminal casino.
A move by the New York Racing Association to lower the pari-mutuel takeout on pick six wagers is causing controversy even before NYRA formally proposes the plan to state regulators.
Finger Lakes in upstate New York will open its video lottery terminal parlor Feb. 18 to become the second racino to begin operation in the past month under a 2001 state law.
New York state has no choice but to give the New York Racing Association an extension of its franchise if it wants to get video lottery terminals operating at Aqueduct, NYRA chairman Barry Schwartz said.
Racetracks in New York would be permitted to have full Las Vegas-style casinos under new state legislation that also calls for a constitutional amendment to permit non-Indian casinos in the Catskills and Western New York.
Gerald Nielsen, a prominent New York breeder instrumental in building up the state's breeding industry, has died. The cause of death was not immediately known, but Nielsen had been scheduled to come to Albany Monday to lobby state officials on breeding issues.
Just a month before he proposed a dramatic expansion of gambling with video lottery terminals across the state, New York Gov. George Pataki told a state appeals court the devices would be limited to racetracks under a 2001 law.
The New York Racing Association is filing paperwork stating its intent to sue the New York City Off Track Betting Corporation for undercutting simulcasting fees, the latest in a long line of tussles between the two influential industry groups.
New York Gov. George Pataki has proposed new competition for racetracks with a plan to have the state sell eight video lottery terminal franchises to hotels, off-track betting parlors, and other entities.
Track operators in New York are gearing up for a major lobbying battle against an effort to spread video lottery terminals beyond the state's horse racing industry.
Licensing problems have delayed, for possibly well into 2004, the opening of Vernon Downs, which was to become the first racetrack in New York with video lottery terminals. That honor will now go to Saratoga Raceway, which is scheduled to open its VLT operation in mid-January.
The U.S. Attorney's Office is seeking someone to oversee the recently indicted New York Racing Association, which can avoid prosecution on the indictment if its monitor says it has stayed clean.
The New York Racing Association, under investigation for more than three years, was indicted Thursday on fraud and conspiracy charges. Besides the indictment of NYRA, the U.S. Attorney's office in Brooklyn also unsealed indictments against two former directors of the parimutuel department as well as four former tellers on conspiracy and tax fraud charges.
The New York Racing Association's political muscle had nothing to do with the deal in which prosecutors agreed to indict NYRA, but not prosecute it if it agrees to certain reforms and pays a $3 million fine, NYRA chairman Barry Schwartz said Thursday.
The New York Racing Association, under investigation for more than three years, was indicted Thursday on fraud and conspiracy charges. Despite that, NYRA will be able to retain its franchise to run three premier Thoroughbred tracks in New York under a "deferred prosecution'' deal in which it will escape a trial in return for reforming its operations, according to the deal agreed to by federal prosecutors and the NYRA board of trustees.
New York media outlets have reported an indictment of the New York Racing Association on conspiracy, tax evasion, and fraud charges is expected, possibly as soon as Dec. 5. In an unusual deal, NYRA would be allowed to keep its franchise to operate Aqueduct, Belmont Park, and Saratoga, according to the reports.
With scandals at the New York Racing Association having left a string of criminal convictions over the past couple years, the chairman of the Senate racing committee has proposed legislation to tighten state law to ensure convicted felons cannot obtain racing licenses in New York.
Two months after he resigned as president of the New York Racing Association, Terry Meyocks remains on the job -- a move that is making some government officials start to privately grumble.
After years of dipping into purse accounts to meet expenses, the New York Racing Association has, under pressure from horsemen, opened a new account that will be solely for maintaining purse winnings.
As the racing industry's breath-holding continues as it awaits the ongoing investigation by the U.S. Attorney's office, it is a question state and federal officials, as well as NYRA's boosters and competitors alike, have been increasingly pondering.
Video lottery terminals would be permitted at off-track betting facilities in New York under a plan being considered by state budget negotiators. The idea is being promoted to deal with another huge, multibillion-dollar budget looming over the next two years and a failure by racetracks to get VLTs up and running quickly enough to send revenue-sharing money to the state.
Legislation designed to make it easier for New York tracks to coordinate racing schedules and sell their products jointly has been vetoed by Gov. George Pataki, who said the bill could "work to the detriment of New Yorkers who patronize horse racing and betting facilities."
New York regulators Oct. 21 gave final approval to a new rule authorizing the testing of post-race samples for performance-enhancing erythropoetin antibodies. The New York Racing and Wagering Board said the testing would begin Nov. 1, which would make New York the first state to require the test.
Trifecta wagering will be permitted on more races under a rule adopted Oct. 15 by the New York State Racing and Wagering Board.
The longtime head of a quasi-state agency charged with financing improvements at New York's top Thoroughbred racetracks has resigned under a cloud, government officials said Oct. 9.
A few months after it was slapped with a $10,000 fine over its last promotional mailer, the New York Racing Association is trying again.
New York Racing Association officials said it appears losses were kept relatively low from a September incident in which at least a dozen wagering outlets failed to stop taking bets after a Belmont Park race had begun.
The embattled president of the New York Racing Association resigned Monday evening, in a move NYRA officials hope will quell the firestorm that is threatening their franchise to run the state's three premier racetracks.
The New York Racing Association, poised to make major reorganizational changes in a bid to keep its racing franchise intact, has hired a new high-level executive to oversee its much-criticized finances.
The trustees of the New York Racing Association, a target of allegations of wrongdoing and mismanagement, met in private Sept. 24 to devise ways to keep from losing the franchise to operate the state's premier Thoroughbred tracks.
State regulators have taken the formal step of stripping the racing licenses of seven illegal immigrants who were arrested while working as grooms and exercise riders at Saratoga in July.
New York state comptroller Alan Hevesi, who believes the New York Racing Association is unwilling to reform operations, has called for the creation of an independent inspector general to monitor NYRA.
A track operator and a leading handicapper at an Albany Law School conference Aug. 5 were unable, not surprisingly, to agree whether the growing use of rebates in the racing industry is a good thing.
Former New York Mayor Rudolph Giuliani will recommend a series of reforms to the racing industry in the aftermath of the Breeders' Cup Ultra Pick 6 wagering fraud, including creation of a central, nationwide authority to help oversee security issues.
Magna Entertainment Corp. is still very much interested in entering the New York racing market, and would seek to obtain, if it becomes available, the New York Racing Association franchise, the head of the company said Aug. 5.
In another blow for the New York Racing Association, state regulators have fined NYRA $10,000 for launching a marketing program before getting state government approval.
A draft audit by New York state comptroller Alan Hevesi found the New York Racing Association has come up short in payments to purses and state franchise fees.
In a case closely watched by the racing industry, a New York judge today upheld legislation permitting racetracks in New York to offer video lottery terminals.
Federal prosecutors are preparing an indictment against the New York Racing Association that will allege a corporate conspiracy that permitted corruption to occur at its three racetracks. Sources also say the state is currently developing a contingency plan in case the NYRA is ousted from its duties.
After mailing out 180,000 vouchers to its fans, the New York Racing Association has scuttled its marketing tool known as the "mystery voucher'' program after state regulators ordered new safeguards implemented in the program.
New York is poised to become the first state to begin testing horses for blood-doping antibodies used to enhance performance, New York State Racing and Wagering Board officials have announced.
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