New York Racing Association

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Empire Racing Board Membership Clarified

The executive director of the New York Thoroughbred Breeders has issued a statement clarifying that he is not a board member of Empire Racing Associates, which has been formed in an effort to be part of a bid for the New York Racing Association franchise.

NY Tracks, VLTs Worth $2.1 Billion, Study Says

New York state could reap at least $2.1 billion if it auctions off video lottery terminal franchises at Aqueduct and Belmont racetracks, sells the tracks now run by the New York Racing Association, and privatizes the six regional off-track betting corporations now scattered around the state.

NYRA Bailout Tied to Hike in Takeout Rate

The New York Racing Association will have to raise pari-mutuel takeout if it is to obtain a $20-million loan from the state of New York, according to language buried in state budget bills introduced the week of Jan. 16.

New York Panel Schedules Public Hearings

The New York state panel involved in the renewal process for a new Thoroughbred racing franchise to replace the New York Racing Association will hold two public hearings later this month to help it carry out its mandate.

Melnyk Resigns as NYRA Trustee

Eugene Melnyk, whose racing stable is one of three finalists for an Eclipse Award as outstanding owner of 2005, has resigned his position on the New York Racing Association's board of trustees, according to a release from NYRA.

Pataki Offers Last-Ditch Plan to Assist NYRA

New York Gov. George Pataki is offering $10 million in immediate aid to help keep the ailing New York Racing Association from insolvency, and he pledged to work with legislators on another measure to lend NYRA cash against its future gaming proceeds.

Report: New York Must Overhaul Racing Laws

New York officials need to act quickly to launch a major overhaul of racing laws to help jumpstart the state's $1.4-billion Thoroughbred racing industry, Friends of New York Racing concluded in its year-end report on the status of pari-mutuel horse racing in the state.

Sotheby's Suspends Sale of NY Equine Art

The auction of 19 pieces of equine artwork by the financially ailing New York Racing Association has been canceled after Sotheby's auction house withdrew the sale under threat of legal action by the state government.

NYRA Requests 257-Day Season for 2006

  • News

The New York Racing Association has requested a 257-day racing season for 2006, pending formal submission to and approval by the New York State Racing and Wagering Board.

Breeders' Cup Boosts Belmont Meet Numbers

  • News

The fall meet at Belmont Park, highlighted by the Breeders' Cup World Thoroughbred Championships Oct. 29, resulted in across-the-board increases in all major business categories. Excluding Breeders' Cup Day, however, average daily attendance and some average daily wagering categories declined from the same meet one year ago,

NYRA Ripped for Bypassing State Oversight Panel

The New York Racing Association, which hopes to get the state's attention on its current fiscal plight, did itself no favors by the way it hired a bankruptcy law firm to represent it in the event of insolvency if the reaction of the head of a new oversight panel is any indication.

Parties in New York Finalize VLT Revenue Deal

  • News

A revenue-sharing deal for video lottery terminals at Aqueduct would give horsemen 7.5% of gross gaming revenue for the first three years, and breeders 1.25% for the first five years, once the devices are operating.

FNYR Study, OTBs Differ on Health of System

Revenue to localities in the six off-track betting regions in New York is down more than 50% from 2000 to 2004, according to the results of a study commissioned by Friends of New York Racing, the organization that seeks to build a better economic model for the pari-mutuel industry in the Empire state. Two OTB corporations, Capital and New York City, have issued responses to the report, which they believe doesn't tell the whole story.

Thoroughbred Thank You Fund to Host Families at Breeders' Cup

The Thoroughbred Thank You Fund, established by 1986 West Point graduate and retired Army officer Terry Finley, plans to bring 200 New York-based military personnel and West Point cadets to the Breeders' Cup World Thoroughbred Championships at Belmont Park Oct. 29. Included will be New York reservists from the 369th Harlem Hellfighters Battalion and the 69th Infantry, who recently returned from tours of duty in Iraq and Afghanistan.

BC Talks Continue as Marketing Campaign Launched

As Breeders' Cup officials continued to deal with the fallout from the announcement the New York Racing Association could be nearing insolvency, they indicated Oct. 11 it's all systems go for the Oct. 29 World Thoroughbred Championships at Belmont Park by launching a $2-million marketing push only 18 days before the event.

'Big Three,' Others to Renew NTRA Membership

The three major racetrack operators -- Churchill Downs Inc., Magna Entertainment Corp., and the New York Racing Association -- have confirmed along with other racing associations and horsemen's groups the renewal of their membership in the National Thoroughbred Racing Association.

Federal Prosecutors Drop Case Against NYRA

Federal prosecutors have dropped their longstanding criminal case against the New York Racing Association, which officials said cooperated in reforming past episodes of wrongdoing that could have cost it the franchise to operate the tracks.

Knowlton Resigns as 'Friends' Director in New York

  • News

Due to his appointment to the Committee on the Future of Racing in New York, Jack Knowlton, managing partner of Sackatoga Stable, has resigned from the board of directors of Friends of New York Racing.

NYRA Promotes Controller Irene Posio

  • News

The New York Racing Association announced Sept. 1 that Irene M. Posio has been promoted to vice president/treasurer and controller, effective immediately.

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