The New York Racing Association announced that it will make its final payment April 5 on a $25 million loan provided by Genting in 2011 as per an agreement between NYRA and New York State.
A $25-million loan proposal could keep the New York Racing Association operating through the spring of 2011.
A group of about 10 Thoroughbred breeding farms and the Saratoga County Chamber of Commerce next week will sue the state of New York to try to force it to loan $17 million to the New York Racing Association.
A bill that would make a state-funded loan of up to $1 million available to construct a horse slaughtering facility in South Dakota is no longer under consideration.
With construction set to start on a video lottery terminal casino at Aqueduct in late January, racetrack, the New York Racing Association is pushing the state of New York to provide an additional $20-million bailout before spring.
A New York state government panel approved a $5-million loan for the New York Racing Association Jan. 9 to keep the association afloat during its 2006 racing season.
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