New York racetrack casinos lost a major potential competitor Feb. 18 after federal officials rejected a plan for a sprawling, full-blown casino just 90 miles from Manhattan.
New York State will lose money and the racing industry severely dented if the go-ahead is given to a Wisconsin Indian tribe to build a casino in the Catskills resort region, a top Democratic lawmaker said Feb. 2.
If New York senators don't approve a reorganization plan, the country's largest off-track betting operation will run out of money. Closing NYCOTB will mean 1,034 people will lose jobs.
Just weeks after breaking ground on a new casino at Aqueduct racetrack, Gov. David Paterson is hoping to forge an agreement for a competing, Native American-owned casino 100 miles away in the Catskills region.
Gov. David Paterson and Genting chairman K.T. Lim Oct. 28 were joined by others at Aqueduct to officially break ground for the Resorts World New York casino at Aqueduct.
A tentative deal has been reached to let the New York Racing Association and other tracks take over the advanced deposit wagering system now run by the giant New York City Off-Track Betting Corp.
Genting New York officials, after turning over $380 million in licensing fee payments to the state, said they are prepared to quickly start construction on the Aqueduct casino project.
After nine years of on-again, off-again movement, the Aqueduct casino project now seems all but certain to be a done deal.
A little less uncertainty might make New York-bred yearlings more popular during the Fasig-Tipton preferred auction.
Racetracks in New York state are being told they might have to shut down June 15 if a budget stalemate at the state Capitol is not resolved.
State's industry is floundering instead of flourishing.
New York State lawmakers on May 24 approved a $25 million loan for the New York Racing Association, keeping the racetrack operator solvent for at least the rest of the year and avoiding a shutdown of its operations.
State officials in New York have agreed on one point: that they will not let the New York Racing Association shut down after the Belmont Stakes (gr. I) or for the Saratoga summer meet.
Officials in New York have failed to agree on a bailout plan for the New York City Off-Track Betting Corp., which issued layoff notices Friday to its 1,300 workers as it prepares to close down April 11.
- By Tom Precious
New York officials have scuttled the deal with Aqueduct Entertainment Group to develop a sprawling casino at Aqueduct racetrack, leaving an uncertain future over when the project will ever take shape.
A new member of the New York State Racing and Wagering Board has been approved by the state Senate, but not without the usual dose of partisan wrangling at the state Capitol.
Under scrutiny for his decision granting a contract to Aqueduct Entertainment Group to operate video lottery gaming at Aqueduct race track, New York Gov. David Paterson on Feb. 16 released documents related to the contract.
Asks New York state inspector general's office to look into the bidding process.
Getting a casino at Aqueduct could be delayed further by political in-fighting.
The recent bankruptcy petition by the New York City Off-Track Betting Corp. should be tossed out of federal court, the New York Racing Association argues in a lengthy legal brief filed Jan. 4 in Manhattan.
Frustrated by the delay in picking an Aqueduct casino operator, New York Gov. David Paterson said he is moving to publicly name his choice in hopes of putting pressure on legislative leaders to make a decision.
Top state officials in New York are still discussing options for an operator of the long-delayed Aqueduct racetrack casino, but negotiators appear split on whether a final announcement needs to be a part of talks now underway to resolve the state's deficit.
- By Tom Precious
Negotiations for an Aqueduct casino operator have stepped up again, with a new flurry of talks between Gov. David Paterson and legislative leaders occurring in advance of a return by the state legislature the week of Nov. 16 to deal with New York's soaring deficit.
New York officials have a growing urgency to resolve the long-delayed Aqueduct casino project: a ballooning deficit.
New York Gov. David A. Paterson on Sept. 1 signed Executive Order No. 27, authorizing the New York City Off-Track Betting Corporation (NYCOTB) to file a petition for reorganization under Chapter 9 of the federal bankruptcy code. The governor issued the order after it was determined that NYCOTB requires major restructuring to regain solvency. Paterson has directed the NYCOTB board of directors, led by Chairman Meyer "Sandy" Frucher, to provide the governor's office with a restructuring plan within two months, which likely will include a Chapter 9 filing for NYCOTB.
The governor of New York suggested Aug. 26 there are no guarantees a decision will be made soon in the selection of a developer for the long-stalled Aqueduct casino project.
Six bidding groups vying to run a lucrative casino at Aqueduct racetrack have wrapped up their face-to-face presentations with senior aides to New York Gov. David Paterson and legislative leaders.
Hard Rock International has added a potent new force - an entity run by billionaire Robert L. Johnson - to its team to try to win the exclusive rights to develop the long-stalled casino at Aqueduct racetrack.
MGM Mirage is back in the hunt to develop New York City's only legal casino with word emerging May 14 that it has joined forces with two other entities trying to win the bid for a sprawling new gambling facility at Aqueduct Racetrack.
The top Republican in the New York state Legislature is, again, calling on the governor and Democrats to back an effort to bring a casino to Belmont Park.
New York Gov. David Paterson said all options â€" including a takeover by the state or the New York Racing Association -are on the table if a deal is not struck by this weekend (June 14-15) to keep open the New York City Off-Track Betting Corp.
Preliminary negotiations have begun at the state Capitol in Albany to address New York Mayor Michael Bloomberg's threat to shut down the New York City Off-Track Betting Corp. in June.
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