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.
The New York State legislature has halted a longstanding ban against pari-mutuel wagering and live racing on Palm Sunday, a move industry supporters claim will raise revenue for tracks and the state.
Their financial performances were no secret during the year, but now the final numbers for fiscal 2014 are in and, for the first time, New York racetrack-based casinos showed their first year-to-year dip in net revenue.
New York lawmakers have given final approval to an expansion of video lottery terminal games at six of the state's nine racetrack-based casinos.
A measure giving flexibility to the financial operations of the New York State Thoroughbred Breeding and Development Fund passed by a comfortable margin in the state Senate, as it has every year since 2010.
Legislation has been introduced in both houses of the New York legislature to require the owners of a future commercial casino to make whole any losses suffered by horsemen and breeders at nearby Finger Lakes.
New York racetrack gaming facilities, most of which have been facing slumping financial numbers this year, will be able to stay open later into the early morning and be authorized to offer more free play.
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 Gov. Andrew Cuomo's plan to create gambling competition for racetrack-based casinos was a topic of an hour-long, closed-door meeting June 18 with legislative leaders trying to end the 2013 legislative session.
Sen. John Bonacic, chairman of the New York Senate Racing, Gaming, and Wagering Committee, introduced a measure May 23 to ban casinos on Long Island and New York City, except the borough of Queens.
Gov. Andrew Cuomo said there is a big enough appetite for gambling in New York to permit the state to expand casino operations while protecting the interests of existing racetrack-based casinos.
Several of New York's racetrack gaming facilities would be first in line for full-scale casinos under legislation being finalized by Senate Republicans in the state legislature.
A New York lawmaker May 4 said he will introduce legislation authorizing off-track betting at New York City bars that offered it before New York City Off-Track Betting Corp. went bust and closed in 2010.
The New York Senate's top Republican wants Belmont Park to be included in the list of possible casino expansion locations.
The New York legislature's most powerful Democrat said Jan. 24 he would be open to further casino development at Aqueduct Racetrack, as well as several other specific locations in New York City except for Manhattan.
Legislation calling for a ban on performance-enhancing drugs in horse racing has been sent to the New York Senate Racing, Gaming, and Wagering Committee.
New York Gov. Andrew Cuomo is pushing lawmakers to pass the second required piece of legislation to allow up to seven new casinos in New York State.
A report done for the New York Gaming Association says the organization's members -- nine racetrack casinos in the state -- generate almost $2 billion a year in economic output.
Legislation is popping up in New York to permit additional casinos across the state, with other versions of bills placing the expanded gambling offerings at existing racetrack casinos.
Racetrack casino operators in New York are lobbying hard to protect their interests in anticipation of a potential gambling expansion and tighter licensing procedures in 2012
The push and pull by advocates and detractors has yet to begin, but more than half of New Yorkers believe the state should permit full-fledged casinos beyond Indian-owned gambling facilities, a new poll has found.
A New York lawmaker said Sept. 13 he will introduce legislation banning use of "performance-enhancing drugs" such as the anti-bleeding medication furosemide, or Salix.
Racetracks across New York Sept. 7 will unveil a plan to amend the state constitution to permit them to offer a complete array of casino gambling as part of a proposal they say will raise revenue for the state and industry.
A six-year-old law supporters said was designed to encourage the protection of retired racehorses has been struck down by New York Gov. Andrew M. Cuomo.
Republican New York Sen. John Bonacic said he plans to schedule hearings this year to discuss horse racing and casino gambling in New York.
Lawmakers in New York said they plan to put off until next year passage of a measure permitting casino gambling in the Catskills resort region of the state.
The operators of Aqueduct's future video lottery terminal casino have begun pressing state officials to permit table games at the facility and New York's other racetrack casinos.
The New York City Off-Track Betting Corp., facing a shutdown later in the day, was given a four-day reprieve Dec. 3 when the state Senate is due back to consider passage of a bankruptcy reorganization plan
New York Gov. David Paterson is turning up the heat on legislative leaders, prodding them to make a quick decision on the new operator to run the Aqueduct video lottery terminal casino.
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.
New York Gov. David Paterson is pushing a plan with legislative leaders to re-bid the Aqueduct casino project, a proposal that could push off a final decision until the end of the year.
New York lawmakers have given approval to move the state's equine drug-testing laboratory from Cornell University to Morrisville State College. The Senate and Assembly both approved the move March 1.
Representatives of the Thoroughbred industry testified Feb. 3 before various New York Senate committees looking into the state of the horse racing industry.
A New York horsemen's group will continue to get additional purse money to fund its operations, including health benefits for backstretch workers at New York Racing Association tracks, under final passage of legislation July 16 by the state Senate.
Having failed to get a law approved permitting racetrack casinos to offer electronic table games, New York Gov. David Paterson's Lottery Division is moving ahead with plans for the new gambling devices at the state's eight racetrack-based casinos. But a lawyer who has sued the state over past gambling expansions said the Paterson administration may be playing with legal fire.
A new top racing industry regulator is poised to be confirmed by New York lawmakers Aug. 8 when the state Senate returns for a one-day session.
The New York Racing Association has been granted another temporary extension to continue operating during most of the Saratoga meet while it negotiates a final deal with the state for a 25-year franchise.
The new head of a state government panel that will oversee Thoroughbred racing in New York Jan. 1, 2008, said he could not guarantee that horses will be running at Aqueduct in two weeks.
With closed-door talks failing to produce a deal on a new Thoroughbred franchise in New York, state officials have begun discussing getting the framework of a deal in place before a Dec. 31 deadline with passage of an agreement by the legislature in early January.
A new state corporation would be created to select new operators of New York's three-track Thoroughbred racing franchise under a plan by the Republican-led state Senate.
Seven entities have expressed interest in running a future video lottery terminal casino at Aqueduct, including several Indian-owned gambling companies, the Spitzer administration said Oct. 15.
People who live near Belmont Park got a chance to voice their opinions about the franchise to operate Thoroughbred racing at three tracks in New York.
Issues related to Belmont Park and the surrounding community will be the focus of the next New York Senate hearing on the franchise to operate the three-track Thoroughbred racing franchise.
The Spitzer administration has defended its recommendation of the New York Racing Association to run the state's Thoroughbred racing franchise.
The New York Senate Standing Committee on Racing, Gaming, and Wagering will hold the first of three public hearings on the future of the Thoroughbred racing franchise in the state Sept. 27.
With the deadline ticking before New York's Thoroughbred racing franchise expires, the state Senate has announced three public hearings to consider the future of the industry in New York.
The franchise to operate Aqueduct, Belmont Park, and Saratoga will be front and center Sept. 12 during a meeting of the New York Senate Committee on Racing, Gaming, and Wagering.
New York Gov. Eliot Spitzer has formally recommended the New York Racing Association continue to operate Aqueduct, Belmont Park, and Saratoga racetracks while a separate operator for future casino developments at Aqueduct and possibly Belmont would be tapped down the road.
The New York Senate Committee on Racing, Gaming, and Wagering will hold a meeting Sept. 12 to review Gov. Eliot Spitzer's anticipated recommendation regarding the franchise to operate Aqueduct, Belmont Park, and Saratoga.
A measure in New York to increase the amount of money Thoroughbred owners pay from purses to the New York Thoroughbred Horsemen's Association has gained legislative approval and now goes to Gov. Eliot Spitzer for his consideration.
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