The New York Racing Association has filed for Chapter 11 bankruptcy protection, charging that the state of New York's failure to approve a long-stalled casino project for Aqueduct Racetrack has pushed it toward insolvency.
The New York Racing Association is to blame for the delays in state approvals needed to begin construction on the long-stalled Aqueduct casino project, the leaders of the New York Thoroughbred Horsemen's Association claim.
How did the New York Racing Association choose the name Cab Calloway for one of the divisions of its Saratoga stakes for New York stallion-sired horses?
A group formed under the name Empire Racing Associates will try to join up with partners to make a bid on the expiring franchise to run Aqueduct, Belmont and Saratoga race tracks.
The racing industry's major stakeholders in New York state, more accustomed to battling than cooperation, came together Tuesday, Nov. 15 for an unprecedented gathering to try to reach consensus on ways to improve the state of their financial affairs.
Richard Bomze was re-elected as New York Thoroughbred Horsemen's Association (NYTHA) president for his third term.
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.
The Belmont Child Care Association (BCCA) raised $250,000 for childcare center Anna House at its annual dinner/auction fundraiser at The Gideon Putnam Hotel in Saratoga Springs. N.Y.
Continuing on a theme he struck during the Jockey Club Round Table the previous morning, Tim Smith, the president of the Friends of New York Racing, outlined the research group's preliminary findings and recommendations during a public forum Monday at Fasig-Tipton's Humphrey S. Finney sale pavilion in Saratoga Springs, N.Y.
New York Racing Association officials say they are rushing toward a new video lottery terminal revenue sharing deal with horsemen and breeders that would avoid the need for pending legislation at the state Capitol to reach a VLT agreement.
Fourstars Allstar, who reached stardom in New York and Ireland, was euthanized last month after breaking his neck.
Pari-mutuel takeout wars have begun in New York, where a state senator has introduced legislation to increase the amount the New York Racing Association keeps on wagers. Though the measure's sponsor said the takeout hike is needed to help stop NYRA's financial bleeding, NYRA chairman Barry Schwartz insists the legislation would turn off bettors and decrease purses.
The New York Racing Association would be legally required to reimburse horsemen in the state for the millions it borrowed from their purse fund to pay for its operations, according to a proposal being quietly shopping around to state legislators.
The New York Racing Association, under investigation for more than three years, was indicted Thursday on fraud and conspiracy charges. Despite that, NYRA will be able to retain its franchise to run three premier Thoroughbred tracks in New York under a "deferred prosecution'' deal in which it will escape a trial in return for reforming its operations, according to the deal agreed to by federal prosecutors and the NYRA board of trustees.
The embattled president of the New York Racing Association resigned Monday evening, in a move NYRA officials hope will quell the firestorm that is threatening their franchise to run the state's three premier racetracks.
The trustees of the New York Racing Association, a target of allegations of wrongdoing and mismanagement, met in private Sept. 24 to devise ways to keep from losing the franchise to operate the state's premier Thoroughbred tracks.
Saratoga Notebook: Classic Winners Missing, but Not Fans; Volponi Course Charted; Green Fee Out; No Marker for 'Dave
Funny Cide and Empire Maker may not have made it to the Travers Aug. 23, but the fans did. Several records were set at Saratoga Race Course in the process.
A dispute over video lottery terminal revenue splits has been resolved by the New York Racing Association and the group that represents horsemen at NYRA-operated racetracks.
The head of the horsemen's group at New York Racing Association tracks said he is in no rush to share additional video lottery terminal revenue with NYRA.
New York Gov. George Pataki is quietly floating a plan to permit video lottery terminals only at Aqueduct racetrack on an experimental basis, sources at the state capital said. The plan is said to ignore the Standardbred industry, which has lobbied hard for VLTs.
Richard Bomze, president of the New York THA, said Wednesday the organization that represents horsemen at Aqueduct, Belmont Park, and Saratoga met the week of April 9 and decided to support the plan pushed by NYRA chairman Barry Schwartz.
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