Negotiators are eyeing a plan to have the state of New York take over the running of New York City Off-Track Betting Corp., which is threatening to shut down this weekend unless a revenue sharing structure is changed.
The New York Thoroughbred Horsemen's Association released a statement Jan. 10 urging the state to address issues of importance to the 6,000 members of its group as negotiations continue on the long-term extension of the New York Racing Association franchise.
- By Tom Precious
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.
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.
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.
- By Tom Precious
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.
With the future of the racing industry in New York up in the air, the most immediate beneficiaries appear to be state officials running for office this fall, thanks to a steady flow of money from individuals and companies tied in one way or another to the Thoroughbred franchise renewal process.
A group vying to take over the New York Racing Association's Thoroughbred franchise has added the state's former top racing regulator and a veteran trainer to its ranks.
The Thoroughbred Retirement Foundation will hold a cocktail party Aug. 4 to honor New York Senate majority leader Joseph Bruno for his contributions to New York racing and the anti-slaughter movement. The party, which will be held in the Saratoga Reading Room, will be from 5-7 p.m.
New York lawmakers are backing a deal to provide a $5 million loan to the New York Racing Association and provide a $2 million infusion of funds to a Thoroughbred breeding and development fund.
After months of delay, the final members of a panel overseeing the Thoroughbred racetrack franchise process in New York have been named.
New York Governor George Pataki and state officials agreed Dec. 30 to a $30 million bailout plan for the New York Racing Association to help stabilize its finances and keep racing going uninterrupted.
A powerful New York legislator says the Thoroughbred franchise for Aqueduct, Belmont and Saratoga racetracks should be awarded in the next six months in order to ensure the continued viability of racing in the state.
New York Gov. George Pataki, after a day of intrigue at the state Capitol over the leadership of the state's racing regulatory agency, has relieved Michael Hoblock of his duties as chairman of the state Racing and Wagering Board.
The franchise now held by the embattled New York Racing Association, which is facing insolvency by the end of November, should be awarded to a new operator within six months, New York Senate Majority Leader Joseph Bruno said Thursday.
The franchise for the New York Racing Association should be put out to bid and awarded to an entity that will turn the troubled racing group into a for-profit enterprise, the New York state Legislature's top Republican said Tuesday.
New York Republican officials are growing increasingly frustrated with Democrats who run the Assembly for blocking a measure to overhaul racing regulation and setting up a new state monitor to oversee the operations at the troubled New York Racing Association.
Racetracks in New York would be permitted to have full Las Vegas-style casinos under new state legislation that also calls for a constitutional amendment to permit non-Indian casinos in the Catskills and Western New York.
Top government officials have shot down reports New York City Off Track Betting Corp. may be in line to get video lottery terminals for its betting parlors.
With video lottery terminals suddenly emerging as an item in state budget talks, the top Republican in the state Legislature said he cannot support a controversial video lottery terminal bill proposed by his fellow Republican, Gov. George Pataki.
A plan by Republicans in the New York Senate would pump an additional $7 million into the state's Thoroughbred breeding fund.
New York Senator Joseph Bruno backed away from his plan to scrap the Senate Racing, Gaming, and Wagering Committee, according to his spokesman. There was no reason given for Bruno's change of heart.
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