Tom Precious

NYRA Gets 25-Year Extension

NYRA Gets 25-Year Extension

The New York Racing Association, created more than 50 years ago to bolster the Thoroughbred industry, took on a new life Sept. 12 with the formal approval by the state of a new 25-year franchise to exclusively operate Aqueduct, Belmont, and Saratoga racetracks.

Bill Would Clear Way for NYRA Bankruptcy

Bill Would Clear Way for NYRA Bankruptcy

The bill is fairly minor in nature, enacting a series of mostly technical amendments to a law approved earlier this year giving NYRA a 25-year extension to run Aqueduct, Belmont Park, and Saratoga. But NYRA officials have said they could not resolve its bankruptcy proceeding without it.

NY Lawmakers to Look at Several Issues

NY Lawmakers to Look at Several Issues

The still-stalled franchise extension for the New York Racing Association, a new steroid testing lab, and a company to run a casino at Aqueduct Racetrack are all still on the negotiating table June 23 when lawmakers in New York return to the Capitol for the final days of the 2008 legislative session.

State to Take Over NYCOTB

State to Take Over NYCOTB

The state of New York will take over the operations of the New York City Off-Track Betting Corp., Gov. David Paterson announced June 13, as part of a broader plan that could end up consolidating all of the state's OTBs.

NYCOTB Takeover Plan Appears Likely

NYCOTB Takeover Plan Appears Likely

Negotiators in New York the afternoon of June 13 were putting the final touches on legislation in which the state would take control of the New York City Off-Track Betting Corp., thereby averting a shutdown of the city's betting operations for the weekend.

Compromise Urged on New York City OTB

Compromise Urged on New York City OTB

With the clock ticking on the closure of the New York City Off-Track Betting Corp., officials from the Bloomberg administration are stepping up their calls for industry stakeholders to compromise on a bill or face the loss of more than $100 million in OTB distributions.

Mixed Signals from Paterson on NYRA Deal

New York Gov. David Paterson is sending mixed signals on whether he wanted to re-open talks with the New York Racing Association over its deal for a new franchise to operate Aqueduct, Belmont and Saratoga racetracks.

NYCOTB May Lower Revenue Sharing

NYCOTB May Lower Revenue Sharing

Racing industry groups have begun lining up to oppose a plan to permit the New York City Off Track Betting Corp. to lower its revenue sharing payments to tracks, breeding funds, and other entities.

New York Officials Working to Save OTB

New York Officials Working to Save OTB

State officials are working on a plan to help keep the New York City Off Track Betting Corp. from shutting by shaving up to 20% of revenue-sharing the OTB now makes to various entities, including the New York Racing Association, out-of-state tracks, and breeding programs.

NYRA OK, But OTB Closure Looming

NYRA OK, But OTB Closure Looming

Legislation giving the New York Racing Association a 25-year extension of its exclusive Thoroughbred franchise was signed Feb. 19, Gov. Eliot Spitzer said. Meanwhile, the mayor of New York City reiterated that New York City Off-Track Betting Corp. can't continue under its current arrangement with the state.

NYRA Wins 25-Year Franchise

NYRA Wins 25-Year Franchise

The New York Racing Association, written off as dead a year ago by its competitors, has won the rights to a 25-year exclusive franchise to continue operating Aqueduct, Belmont, and Saratoga racetracks.

NYRA Franchise Deal Approved

NYRA Franchise Deal Approved

The New York Racing Association will run racing for the next 25 years under legislation approved February 13 that provides hundreds of millions of dollars in direct aid and loan forgiveness to NYRA and new oversight abilities by the state.

Bruno: 'Scare Tactics' Must End

Bruno: 'Scare Tactics' Must End

While unveiling what he called the framework of a Thoroughbred franchise agreement, Senate Majority Leader Joseph Bruno blasted the New York Racing Association Feb. 7 for attempting to scare its workers and horsemen by threatening a shutdown Feb. 14.

NY Panel Stymies Chairman's Actions

NY Panel Stymies Chairman's Actions

A Republican-dominated state panel overseeing Thoroughbred racing in New York has curbed the ability of its new chairman to broker deals with the New York Racing Association. The chairman was appointed by Democrat Gov. Eliot Spitzer. The move came the same day Spitzer released his 2008 state budget plan, which includes revenue from a proposed casino at Belmont Park.

New York Talks Still at Impasse

New York Talks Still at Impasse

Negotiators trying to reach a deal on a new Thoroughbred franchise in New York are still at an impasse, and now the talks have turned to approving another extension to permit the New York Racing Association to temporarily continue running racing.

New York Franchise a War of Words

New York Franchise a War of Words

The temporary extension given to the New York Racing Association to operate Aqueduct has allowed government officials to boost the rhetorical wars against each other over the failure to devise a long-term franchise deal.

New York Franchise Talks Lingering

Racing will continue to be run at Aqueduct on New Year's Day under an agreement reached Dec. 31, but government negotiators failed to resolve the permanent Thoroughbred franchise issue in New York.

NYRA to Continue Operating Aqueduct

NYRA to Continue Operating Aqueduct

Though state racing regulators failed to approve a temporary license for the New York Racing Association to continue racing in January while talks about a permanent franchise deal continue, NYRA struck a deal with the state to continue operating Aqueduct through Jan. 23.

State Fails to Approve NYRA Deal

State racing regulators failed to approve a temporary license for the New York Racing Association to continue racing in January while talks about a permanent franchise deal continue.

NYRA Oversight Chair: No Guarantees

NYRA Oversight Chair: No Guarantees

The new head of a state government panel that will oversee Thoroughbred racing in New York Jan. 1, 2008, said he could not guarantee that horses will be running at Aqueduct in two weeks.

NYRA Oversight Panel Has New Chair

NYRA Oversight Panel Has New Chair

A state government panel in charge of overseeing the New York Racing Association's finances--and the racing franchise as of Jan. 1, 2008--has a new chairman at a critical moment in the franchise negotiations.

NYRA Offered Temporary Extension

NYRA Offered Temporary Extension

A state government panel Dec. 17 approved letting the New York Racing Association continue running racing on a temporary basis until officials can agree on a new franchise-holder for Aqueduct, Belmont Park, and Saratoga.

NYRA President Considers Benchmarks

NYRA President Considers Benchmarks

The New York Racing Association can agree to new performance benchmarks for its operations as part of a franchise extension deal, but state officials must be more flexible to take into account future changes in the racing industry that could affect those new standards, according to the president of NYRA.

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