Tom Precious

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.

New York Negotiations Continue

New York Negotiations Continue

Negotiations for a new Thoroughbred franchise in New York have progressed in the past several days, but the Republican-led Senate has refused to budge so far on several key points that could risk a shut-down of racing in less than three weeks, according to a top adviser to New York Gov. Eliot Spitzer.

New York: Clock Ticks, Talks Rage

New York: Clock Ticks, Talks Rage

With closed-door talks failing to produce a deal on a new Thoroughbred franchise in New York, state officials have begun discussing getting the framework of a deal in place before a Dec. 31 deadline with passage of an agreement by the legislature in early January.

NYRA Franchise Blasted by Bruno

NYRA Franchise Blasted by Bruno

With talks so far stalled on reaching a deal on a new Thoroughbred franchise holder, New York's top Republican in the Legislature blasted the operations of the New York Racing Association.

Audit: NYRA Underpaid State

The New York Racing Association, whose annual deficits are "not reflective of operating in a sound and economical manner," underpaid the state of New York by $10.9 million in franchise fees from 2004 to 2005, according to a new audit by state comptroller Thomas DiNapoli.

Audit: NYRA Underpaid State Franch

The New York Racing Association, whose annual deficits are ?not reflective of operating in a sound and economical manner,?? underpaid the state of New York by $10.9 million in franchise fees from 2004 to 2005, according to a new audit by state comptroller Thomas DiNapoli.

NYRA Creditors Can Vote on Plan

A federal bankruptcy court judge has paved the way for the New York Racing Association to emerge from Chapter 11 protection pending the outcome of a vote by creditors.

NYRA Outlines Finances in Documents

The New York Racing Association is proposing to keep 17.5 acres of land adjacent to Aqueduct after it gives up it land claims to the state of New York, according to amendments filed to its Chapter 11 bankruptcy reorganization.

Plan May Split Control of NY Tracks

Two days after a top lawmaker said he believes Gov. Eliot Spitzer has moved away from the idea of awarding the entire Thoroughbred racing franchise to the New York Racing Association, a plan is kicking around in Albany to split the three tracks among different entities.

IRS Claims NYRA Owes $1.6 Billion

IRS Claims NYRA Owes $1.6 Billion

The New York Racing Association can add the Internal Revenue Service to its list of obstacles, as the federal agency wants NYRA to pay it $1.6 billion to settle past tax bills.

Magna, Churchill Withdraw From Empire Racing

Magna, Churchill Withdraw From Empire Racing

A consortium of major horse industry companies vying for the Thoroughbred franchise in new York began falling apart Oct. 10, as Magna Entertainment and Churchill Downs announced their withdrawal from Empire Racing Associates.

Magna, Churchill Withdraw From Empire Racing

A consortium of major horse industry companies vying for the Thoroughbred franchise in New York began falling apart Oct. 10, as Magna Entertainment Corp., Churchill Downs Inc., and Delaware North announced their withdrawal from Empire Racing Associates.

Spitzer Recommends NYRA Maintain Franchise

New York Gov. Eliot Spitzer has formally recommended the New York Racing Association continue to operate Aqueduct, Belmont Park, and Saratoga racetracks while a separate operator for future casino developments at Aqueduct and possibly Belmont would be tapped down the road.

Spitzer Recommends NYRA Maintain Franchise

Spitzer Recommends NYRA Maintain Franchise

New York Gov. Eliot Spitzer has formally recommended the New York Racing Association continue to operate Aqueduct, Belmont Park, and Saratoga racetracks while a separate operator for future casino developments at Aqueduct and possibly Belmont would be tapped down the road.

New York Governor Vetoes Rebate Legislation

New York Governor Vetoes Rebate Legislation

New York Gov. Eliot Spitzer has vetoed legislation advocates said would have made it easier for tracks and off-track betting corporations to begin bettor rebate programs as a way to compete with off-shore entities and others in the pari-mutuel wagering industry.

New York Racing Rule Targets

New York racing regulators July 31 adopted a series of new rules, including more restrictive prohibitions on betting by racetrack mutuel tellers and final action on a provision to combat "milkshaking" of horses.

"The board instituted a number of rules today that were designed (to) ensu...

Spitzer Asks Racing Franchise Contenders to Re-Submit Bids

Spitzer Asks Racing Franchise Contenders to Re-Submit Bids

New York Gov. Eliot Spitzer is asking the four entities vying for the state's Thoroughbred franchise to re-submit their bidding packages to reflect changes made in their structure and plans over the past year. He also opened the door for any of the existing bidders to join forces in a joint venture deal.

New York THA Breaks From Empire Racing

The New York Thoroughbred Horsemen's Association is breaking its ties with Empire Racing Associates, a move that will further throw into confusion the process for naming a franchise holder to operate Aqueduct, Belmont Park, and Saratoga.

Plan Floated Linking NYRA, Excelsior

The Spitzer administration has floated a plan to link the New York Racing Association with Excelsior Racing Associates to run racing and casino operations at Aqueduct, Belmont and Saratoga racetracks.

State Officials Tell Bid Groups NYRA Should Run Tracks

New York state officials told three Thoroughbred franchise bidding groups they want to let the New York Racing Association continue running the state's major racetracks and begin a new bidding process for rights to operate casinos at Aqueduct and Belmont Park.

NYRA Receives Permission to Offer Internet Wagering

The New York Racing Association will become the first racing entity in New York to offer internet wagering. State regulators April 26 approved a NYRA application to permit the potentially lucrative form of gambling, beginning as soon as NYRA can start the venture.

Swindal Leaves Excelsior as N.Y. Franchise Bids Aired

Steve Swindal, the New York Yankees executive embroiled in divorce proceedings with the daughter of George Steinbrenner, has dropped out of Excelsior Racing Associates, one of four groups vying to win the New York Thoroughbred franchise whose proposals were made public April 5.

Excelsior Loses Steinbrenner Family Backing

Excelsior Racing Associates lost some of its major backing April 1, with the announcement that the Steinbrenner family and a major New York City development firm will no longer be involved in the effort to obtain New York's lucrative Thoroughbred racing franchise.

Despite Rumors, Excelsior Says Franchise Bid on Track

The reported departure of Steve Swindal from the New York Yankees--and his ties to the Steinbrenner family as well--has thrown into doubt the future of Excelsior Racing Associates, the group trying to take over New York's Thoroughbred racetrack franchise. Excelsior Racing, however, said Swindal remains an "integral part" of the team.

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