Officials of the New York Racing Association (NYRA) and International Equine Acquisitions Holdings (IEAH) Stables partners attend the opening bell at the New York Stock Exchange (NYSE) on Wednesday, May 28, 2008.
New York Gov. David Paterson sent mixed signals about reopening the deal giving the New York Racing Association a 25-year franchise extension to operate Aqueduct, Belmont, and Saratoga racetracks.
Racing industry groups have begun lining up to oppose a plan to permit the New York City Off Track Betting Corp. to lower its revenue sharing payments to tracks, breeding funds, and other entities.
The New York Racing Association is prepared for the crowd that will on-hand to watch Big Brown attempt to become the first Triple Crown winner since 1978. It will be the first Triple Crown attempt since 2004 when Smarty Jones fell short.
The Southern Racing Cooperative has a new multi-year deal with the New York Racing Association on signal rates, a cooperative official said.
New York Racing Association simulcasts will return to 16 East Coast tracks, thanks to an agreement signed May 8 between the NYRA and the Mid-Atlantic Cooperative.
The New York Racing Association and the Mid-Atlantic Cooperative have struck a signal-fee deal that will return the NYRA signal--currently from Belmont Park--to 16 East Coast racetracks and their affiliated off-track wagering outlets effective May 9.
State officials are working on a plan to help keep the New York City Off Track Betting Corp. from shutting by shaving up to 20% of revenue-sharing the OTB now makes to various entities, including the New York Racing Association, out-of-state tracks, and breeding programs.
Six workers were injured when the roof of a barn being renovated slipped off its jacks and onto the ground. No horses were in the barn and no other barns were damaged.
Another group of racetracks won't be importing the signal from Belmont Park beginning April 30 because they collectively have failed to strike a deal on signal rates with the New York Racing Association.
The Mid-Atlantic Cooperative, which represents 16 racetracks and their affiliated off-track wagering outlets, has failed to reach an agreement with the New York Racing Association on signal rates, which puts simulcast of races from Belmont Park in jeopardy.
A major commercial real estate developer said April 28 it has combined forces with the Hard Rock Entertainment hotel and restaurant chain in a bid with New York state to operate a video lottery terminal casino at Aqueduct.
Due to heavy overnight rains continuing into April 4, the New York Racing Association has canceled live racing at Aqueduct in an effort to preserve the racing surface for the Wood Memorial program on April 5.
The New York Racing Association violated state law for its no-bid contract with a politically connected law firm, a New York state investigation has found.
By Donna Chenkin - Transformation of a dream often begins with acts of imagination that elevate a starting vision of change above the intimidating presence of things as they are.
In a financial statement released by the New York Racing Association March 28, the non-profit organization reported total net operating losses of $34.28 million in 2007. That figure is nearly double from 2006, when total net losses reached $17.83 million.
The New York Racing Association reported total net operating losses of $34.28 million in 2007. That figure is nearly double from 2006, when total net losses reached $17.83 million.
Sheikh Hamdan Bin Rashid Al Maktoum's Shadwell Farm has become the presenting sponsor for the New York Racing Association's Travers Stakes (gr. I) and Suburban Handicap (gr. I) through 2009.
Jockey Ramon Dominguez set a single-season record for wins on Aqueduct's inner track when he rode Winning Move Stable's Oedipus O'Neal to victory for trainer Gary Contessa in the fourth race on Aqueduct's March 15 card.
With the March 12 announcement of the resignation of New York Gov. Eliot Spitzer effective March 17, officials at the New York Racing Association said they don't anticipate his resignation would affect recent legislation that grants NYRA a new franchise. It could, however, impact other aspects of the franchise moving forward.
Louis Olah, the longtime "colors man" in the jockeys' rooms at Aqueduct, Belmont Park and Saratoga, died the evening of March 8 following a brief illness. He was 79.
The New York Thoroughbred Horsemen's Association (NYTHA) and the Jockeys' Guild have agreed to a new scale of mount fees for jockeys at tracks run by the New York Racing Association which will take effect April 2, the Guild announced in a March 8 press release.
The New York Racing Association, which has had to delay its emergence from Chapter 11 bankruptcy protection, was given another extension by the state to continue racing at its tracks.
Officials cautioned that a delay in the New York Racing Association emerging from Chapter 11 bankruptcy protection is not a sign of a larger problem for the deal giving NYRA a new 25-year franchise extension.
Legislation giving the New York Racing Association a 25-year extension of its exclusive Thoroughbred franchise was signed Feb. 19, Gov. Eliot Spitzer said. Meanwhile, the mayor of New York City reiterated that New York City Off-Track Betting Corp. can't continue under its current arrangement with the state.
- By Dan Liebman
By Dan Liebman - The franchise extension is only the beginning. NYRA has many hurdles to return to profitability.
Relief, tempered with caution about the future, was the word among some of New York's owners and breeders the day after it was announced that the New York Racing Association struck a deal with the state to operate racing at Aqueduct, Belmont Park, and Saratoga for the next 25 years.
The New York Racing Association has unveiled its logo for the 140th running of the Belmont Stakes (gr. I), the 1 1/2-mile final leg of Thoroughbred racing's Triple Crown.
- By Tom Precious
The New York Racing Association will run racing for the next 25 years under legislation approved February 13 that provides hundreds of millions of dollars in direct aid and loan forgiveness to NYRA and new oversight abilities by the state.
The New York Racing Association, in control of Thoroughbred racing in the state since 1955, will continue to run racing under a deal that came together Feb. 12 at the state Capitol in Albany, government and industry sources say.
Negotiators on February 11 failed again to broker a new Thoroughbred franchise deal in New York, raising the chances that Aqueduct could go dark later this week.
While unveiling what he called the framework of a Thoroughbred franchise agreement, Senate Majority Leader Joseph Bruno blasted the New York Racing Association Feb. 7 for attempting to scare its workers and horsemen by threatening a shutdown Feb. 14.
A tentative deal is within reach to give the New York Racing Association a 25-year franchise to run Aqueduct, Belmont Park, and Saratoga, legislative sources said Feb. 6, the same day NYRA indicated live racing at Aqueduct could end Feb. 14.
The New York Racing Association is working on putting a "contingency plan" in place should Aqueduct be forced to close Feb. 14, NYRA's president and chief executive Charles Hayward said Feb. 5.
Charles Wait, president of the Adirondack Trust Company in Saratoga Springs, N.Y., has resigned from his position on the New York Racing Association's board of trustees, citing his dissatisfaction with the position of Senate Majority Leader Joseph Bruno as the main reason for his decision.
With another deadline looming that could shut down racing at Aqueduct Feb. 14, rumors are circulating among horsemen that the New York Racing Association might not be willing to accept another temporary extension to keep racing going.
A Republican-dominated state panel overseeing Thoroughbred racing in New York has curbed the ability of its new chairman to broker deals with the New York Racing Association. The chairman was appointed by Democrat Gov. Eliot Spitzer. The move came the same day Spitzer released his 2008 state budget plan, which includes revenue from a proposed casino at Belmont Park.
Negotiators in New York have agreed to another temporary extension to keep racing operating while talks continue on a longer-term franchise deal to operate Aqueduct, Belmont Park, and Saratoga, officials said Jan. 21.
A release from the New York Racing Association highlighted strong growth in key areas with the on-track handle increasing, but all-sources wagers and average starters per race reflected a slight dip when the organization reported its final 2007 figures Jan. 18.
Negotiators trying to reach a deal on a new Thoroughbred franchise in New York are still at an impasse, and now the talks have turned to approving another extension to permit the New York Racing Association to temporarily continue running racing.
The New York City Off-Track Betting Corp. will cease operations June 16 unless state officials provide regulatory relief before then, according to a Jan. 16 report to the corporation's board of directors.
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.
As of Jan. 9, HRTV was still not permitted to show races from Aqueduct. The New York State Racing and Wagering Board continues to assess HRTV's application to show video from Aqueduct.
A group of New York jockeys is asking all parties in the ongoing negotiations for the New York racing franchise to come up with creative solutions to the problems facing the industry.
By Dan Liebman - During dinner with colleagues the night of Dec. 29, a member of the party returned to the table and mentioned how the New York Giants were leading the New England Patriots in the fourth quarter. A television in an adjacent room was showing the game on CBS.
Racing will continue to be run at Aqueduct on New Year's Day under an agreement reached Dec. 31, but government negotiators failed to resolve the permanent Thoroughbred franchise issue in New York.
Though 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, NYRA struck a deal with the state to continue operating Aqueduct through Jan. 23.
- 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.
The New York Racing Association has entered into a content exchange agreement with TrackNet Media Group for 2008, NYRA officials said Dec. 28. In addition, NYRA has new deals with TVG and Youbet.com for the upcoming year.
With talks going down to the wire, the New York Racing Association has reached an agreement with a state government oversight panel to at least continue running racing on a brief, temporary basis.
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