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Less than a week after Magna Entertainment was tapped as the winning bidder for New York City Off-Track Betting Corp., the company's chairman, Frank Stronach, said he would like to add the New York Racing Association franchise to his portfolio.
Wednesday, August 08, 2001By Ray Paulick -- If the privatization of the New York City Off-Track Betting Corporation was a horse race, the inquiry sign would have lit up immediately after the city's mayor, Rudolph Giuliani, on Aug. 2 announced the bureaucracy would be sold to a group headed by Frank Stronach's Magna Entertainment and Bob Green's Greenwood Racing.
Tuesday, August 07, 2001Setting the stage for a nasty battle between two racing giants, New York City Mayor Rudolph Giuliani Thursday afternoon tapped a group led by Frank Stronach's Magna Entertainment over the New York Racing Association as the winning buyer of the lucrative New York City Off Track Betting Corp.
Thursday, August 02, 2001Four New York Racing Association employees have been indicted as part of a probe by state investigators into an alleged money laundering operation. New York City Mayor Rudolph Giuliani cancelled an 11 a.m. news conference at which he was to announce a group led by Magna Entertainment had won the purchase rights to the New York City Off Track Betting Corp.
Thursday, July 19, 2001New York City Off-Track Betting Corp. falling into the hands of a consortium led by Magna Entertainment would be "an affront" to the entire racing industry, the head of the New York Racing Association charged.
Monday, July 09, 2001A deal to sell the New York City Off-Track Betting Corp. still awaits final approval from New York Mayor Rudolph Giuliani, and the delay could thwart the plan for this year.
Monday, May 21, 2001The New York Off-Track Betting Corp. has made arrangements to carry Hialeah's current meet on its simulcast system. The arrangement was announced Monday.
Monday, April 09, 2001The long process to name a purchaser for New York City Off-Track Betting Corp. reached an expected final step when city government narrowed the field to two final bidders: a consortium headed by the New York Racing Association, and another by Magna Entertainment. Meanwhile, Gov. George Pataki, in a brief interview this week, said he favors the sale of NYCOTB. Pataki, who can kill any deal when it comes to Albany for review, has been largely silent on the issue in recent months.
Friday, April 06, 2001With a decision on the sale of the lucrative New York City Off Track Betting Corp. imminent, one of the groups vying for the contract has hired another influential lobbyist in Albany to help close the deal with state officials if it should emerge victorious in the bidding. The group, led by Magna Entertainment, confirmed Thursday it has retained as its second lobbyist William Powers, who until only last month was the state's powerful Republican Party chairman.
Thursday, March 29, 2001At the New York Capitol building Tuesday afternoon, legislative sources were already predicting the new partnership of the New York Racing Association, Churchill Downs Inc., and the TV Games Network has a strong edge over the group headed by Magna Entertainment in the bidding for New York City Off-Track Betting Corp.
Tuesday, March 27, 2001A Magna Entertainment-led group that submitted a bid for New York City Off-Track Betting Corp. has added a well-placed lobbyist at the state capital, an unusual pre-emptive move for a contract that hasn't been awarded. GMR-NY, a company incorporated in Delaware, has signed a deal to pay $110,000 to Patricia Lynch, who until Dec. 31 had been the closest adviser to Assembly Speaker Sheldon Silver, a Manhattan Democrat.
Wednesday, March 21, 2001A partnership between Magna Entertainment, Greenwood Racing, and real estate investors Robert Baker and William Mack is pursuing the purchase of New York City Off-Track Betting Corp. The partners are one of five groups that submitted formal bids late Friday for the nation's most lucrative OTB franchise. NYCOTB owns 68 betting parlors, three teletheaters, and four restaurant-sports pubs that generated a $1 billion handle last fiscal year.
Monday, November 20, 2000Formal bidding on New York City Off-Track Betting Corp. began Thursday. Organizations have until Nov. 10 to submit a formal bid for the nation's most lucrative OTB franchise.
Thursday, October 05, 2000A special committee will decide which New York City Off-Track Betting suitors can formally bid to purchase the OTB franchise. New York City Mayor Rudolph Guliani is expected to appoint the committee by the end of the week.
Monday, September 11, 2000State racing regulators have begun investigating a nasty new battle between the New York City Off Track Betting Corp. and Monticello Raceway and Vernon Downs after the big betting outfit suddenly stopped simulcasting races from the two upstate Standardbred tracks.
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