The president of the New York THA said it's disappointing that revenue from the planned 1,000 new VLTs at Aqueduct won't produce revenue for purses and the New York Racing Association.
A New York lawmaker, sharply critical of the Nassau Off-Track Betting Corp. bid to try to locate a casino at Belmont Park racetrack, has introduced a measure banning casinos by either of the two Long Island-based OTBs.
New York's top fiscal watchdog said payments to racetracks, competition from advance deposit wagering entities, and sharply rising simulcast fees are contributing to increasingly perilous finances at five OTB corporations.
Racetrack-based casinos in New York saw overall net win drop 1.4% from 2013 to 2014, a potentially worrisome sign as the state will expand the number of larger, commercial casino developments.
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.
In a state unaccustomed to rosy equine industry fiscal numbers, NY officials are going out of their way to hail the breaking of the $1 million mark in proceeds to a Thoroughbred breeding fund from the new casino at Aqueduct.
Just days before the opening of the Resorts World Casino at Aqueduct, the New York Breeding and Development Fund announced a sharp increase in breeders' awards for 2012.
The New York Thoroughbred Breeders, Fasig-Tipton, and New York Racing Association during an Aug. 13 forum will discuss the future of New York racing and breeding after video lottery terminals begin operating at Aqueduct.
An anticipated $20-30 million purse boost due to VLTs key to mood around New York as Belmont Stakes day approaches.
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