New York off-tracking betting corporations will be permitted to dip into their capital funds to help pay for operating expenses under legislation given recent final approval by the New York lawmakers.
First passed as a temporary surcharge in 2007, legislation has been signed into law again authorizing the New York Thoroughbred Horsemen's Association to receive 2% of purse proceeds at New York Racing Association tracks.
New York government would involve itself in the inspection and accreditation of facilities for retired racehorses, but one legislator believes the industry should devise such a program and decide how it would be funded.
An effort to bail out New York City Off-Track Betting Corp. collapsed April 14, leaving uncertainty over whether the betting giant will have to close its doors the weekend of April 17.
The state of New York should abandon efforts to find new bidders to develop a video lottery terminal casino at Aqueduct and instead tap the New York Racing Association to run the long-delayed facility, a leading state lawmaker believes.
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