The New York Racing Association is projecting a surplus next year, its first since 2000, despite an estimated drop in handle at its three racetracks brought on by the economic downturn. But regulators Dec. 22 were unconvinced about some of the optimistic forecasts, and deferred approving NYRA's 2009 budget.
The New York Racing Association could be insolvent by the third week of November unless several plans to raise money and cut expenses occur, NYRA President Charles Hayward told a state oversight panel today.
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