The West Virginia Legislature March 14 passed a fiscal year 2014-15 budget that will redirect 10% of racing's share of gaming revenue to other programs.
The board of the New York Racing Association met for the first time a year ago, but it wasn't until its eighth meeting Dec. 4 that its members offered significant disagreement to a proposal made by chair David Skorton.
The New York Racing Association is finalizing a "fresh look" budget for 2014 that will hike fees imposed on simulcast partners and raise prices for racetrack admission and parking while cutting a number of expenses.
New Hampshire Governor Maggie Hassan ardently supported the expansion of gambling in the state when she included $80 million from a casino licensing fee in her budget proposal.
New York Gov. Andrew Cuomo wants to dip into purse accounts to take $1.5 million to $2 million per year for equine safety programs at the state's racetracks.
Indiana lawmakers have passed a two-year, $28 billion budget that largely spares the horse racing and breeding industry, which was targeted for major reductions in the amount of revenue it receives from slot machines.
Representatives of Indiana's horse racing and breeding industry are lobbying against part of the proposed state budget that would reduce its share of revenue from racetrack gaming by about 55%.
- By Tom LaMarra
Operating revenue for the National Thoroughbred Racing Association was down 45.2% in 2009 from 2008, but expenses were down 47.5% year-to-year, leading the organization to suggest it should have a balanced budget for 2010.
The Thoroughbred Breeders' Association of New Jersey is reworking its 2010 budget, but in a Feb. 19 letter to Republican Gov. Chris Christie, the organization took issue with the governor's veto of the budget.
Republican New Jersey Gov. Chris Christie used his veto power to scrap budgets for the Thoroughbred Breeders' Association of New Jersey and Standardbred Breeders and Owners Aassociation of New Jersey.
The National Thoroughbred Racing Association expects to approve a 2010 budget that's about 25% smaller than this year's spending plan, president and chief executive officer Alex Waldrop said.
- By Esther Marr
While Breeders' Cup is currently operating with debt some believe will result in cuts to purses, a 20-member group has been working toward long-term solutions to bring the organization back to financial stability.
The National Thoroughbred Racing Association has largely credited its NTRA Advantage program for a $3.1-million revenue surplus for 2007.
Most Popular Stories
- Midnight Storm Seeks Grade 1 Dirt Win in Gold Cup
- Lady Eli Brings Her Class to Gamely
- CHRB Discusses Creating Single California Circuit
- Asmussen Earns $50,000 Preakness Weekend Bonus
- The Greatest Performance No One Has Seen
- Leslie's Lady in Foal to American Pharoah
- Classic Empire to Coolmore on Retirement
- Enola Gray, Illuminant Look Strong in Monrovia Field
- Freshman Flashpoint Gets His First Winner
- Maker a Triple Threat in AP Classic