The Aqueduct Entertainment Group bid to run a casino at Aqueduct racetrack took another setback, with the withdrawal of two of its most prominent African-American investors.
Frustrated by the delay in picking an Aqueduct casino operator, New York Gov. David Paterson said he is moving to publicly name his choice in hopes of putting pressure on legislative leaders to make a decision.
The governor of New York suggested Aug. 26 there are no guarantees a decision will be made soon in the selection of a developer for the long-stalled Aqueduct casino project.
The New York City Off-Track Betting Corp., which is now controlled by the state government, is facing insolvency unless it can get its financial affairs in order, state Comptroller Thomas DiNapoli reported Aug. 14 in a long-awaited audit.
MGM Mirage is back in the hunt to develop New York City's only legal casino with word emerging May 14 that it has joined forces with two other entities trying to win the bid for a sprawling new gambling facility at Aqueduct Racetrack.
More information was released May 11 about some of the groups seeking to build and operate a casino on the grounds of Aqueduct racetrack in New York.
New York's lottery director caused a bit of a stir this week when he suggested to state lawmakers that racetracks are a drag on the profitability of their racino operations - leading to less money going to the state's education budget.
The long and twisting turns of efforts to develop a casino at Aqueduct racetrack has gone to a new venue: state court. SL Green Realty Corp., a Manhattan real estate company, has sued Buffalo-based Delaware North for breach of contract and other causes with allegations that include taking confidential information it obtained from SL Green for use in its bid for the casino.
- By Tom Precious
New York Thoroughbred breeder Ernie Paragallo is being charged with 22 counts of cruelty to animals, the chief prosecutor in the case told The Blood-Horse April 10.
New York Thoroughbred breeder Ernie Paragallo was charged with 22 counts of cruelty to animals, the chief prosecutor in the case told The Blood-Horse April 10.
Investigators found serious violations of animal cruelty laws in at least 40 Thoroughbred horses at the New York farm owned by Ernie Paragallo following a raid April 8 by State Police and animal protection agency officials.
Legislation has been given final approval in New York to block a looming 1% takeout increase on out-of-state pari-mutuel wagers. The legislation now heads to Gov. David Paterson for his consideration.
The New York Racing Association lost a five-year-old lawsuit Feb. 24 when the state's highest court refused to hear its appeal in a case potentially worth millions of dollars in back simulcasting payments to the racing entity.
A New York state government panel said Belmont Park can support a sprawling casino, hotel, retail, and housing development to bring jobs and money to the state.
Three casinos would be permitted in New York's Catskills tourist region under a constitutional amendment introduced in the Legislature for consideration next year.
An effort is underway by racetracks and OTBs in New York state to derail a looming hike in the pari-mutuel takeout before it takes effect next month.
The new top regulator of racing in New York state offered a tough assessment of an industry he says is in decline in many ways because of its own doing.
Negotiators are eyeing a plan to have the state of New York take over the running of New York City Off-Track Betting Corp., which is threatening to shut down this weekend unless a revenue sharing structure is changed.
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.
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.
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.
- 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 can agree to new performance benchmarks for its operations as part of a franchise extension deal, but state officials must be more flexible to take into account future changes in the racing industry that could affect those new standards, according to the president of NYRA.
A senior advisor to New York Gov. Eliot Spitzer said the governor has not decided on any one plan for the state's Thoroughbred racing franchise, but acknowledged that a slew of ideas "from shutting down Aqueduct to splitting up the franchise" have been on the table.
New York's largest off-track betting corporation wants to be able to merge with the next holder of the state's Thoroughbred franchise to help end the "perpetual cycle of conflict'' between tracks and OTBs.
With the future of the racing industry in New York up in the air, the most immediate beneficiaries appear to be state officials running for office this fall, thanks to a steady flow of money from individuals and companies tied in one way or another to the Thoroughbred franchise renewal process.
A group vying to replace the New York Racing Association as operator of three Thoroughbred racetracks has joined NYRA's effort to get the state to release $19 million in funding for the financially ailing operator.
Bidders vying for the major Thoroughbred franchise in New York blew their own horns -- and did a bit of not-so-subtle bashing of each other -- before an Aug. 1 who's who of racing industry insiders, including members of a state panel considering the bids to operate Aqueduct, Belmont, and Saratoga racetracks.
Empire Racing Associates has added another potent partner, Woodbine Entertainment Group, to its team vying to take over the franchise to operate Aqueduct, Belmont and Saratoga racetracks.
Internet gambling on horse races would become legal under a measure given final approval by the New York State Legislature.
The long-awaited Request For Proposals for the franchise to operate racing at Aqueduct, Belmont and Saratoga was approved for release June 13 by a state government panel, though it appears increasingly unlikely the winning bidder will be selected this year.
The head of the New York panel overseeing the bidding process for a new operator of the state's Thoroughbred racetracks is pushing to release the bidding package this week.
A report by a New York state legislative panel is issuing a warning signal to the state's racing industry to embrace deep, structural reforms or face a continuing erosion of its fan base.
Violators of New York's racing laws would face sharply higher fines under a new bill pending in the state Senate.
A New York state panel approved a deal Tuesday to have the state's obligations owed by the New York Racing Association take a back seat to the $170 million MGM Mirage will be lending to NYRA to build its video lottery terminal casino at Aqueduct racetrack.
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 New York state panel involved in the renewal process for a new Thoroughbred racing franchise to replace the New York Racing Association will hold two public hearings later this month to help it carry out its mandate.
New York Governor George Pataki and state officials agreed Dec. 30 to a $30 million bailout plan for the New York Racing Association to help stabilize its finances and keep racing going uninterrupted.
A deal is in the works to provide up to $5 million to the cash-starved New York Racing Association from the sale of land near Aqueduct to the Port Authority of New York and New Jersey.
The former chairman of the now-defunct New York State Thoroughbred Capital Investment Fund tapped into the agency's budget to foot expenses for a bed and breakfast and Mexican restaurant he owned, while CIF funds were used to pay for such personal items as overnight mailings to watch repair stores, gasoline and entertainment, New York State Comptroller Alan Hevesi said in an audit released Dec. 5.
New York Gov. George Pataki, after a day of intrigue at the state Capitol over the leadership of the state's racing regulatory agency, has relieved Michael Hoblock of his duties as chairman of the state Racing and Wagering Board.
New York's top racing regulator said court action is still being considered as a result of the New York Racing Association's plans to auction off 19 pieces of artwork without first getting state approval.
A state oversight panel is recommending the New York Racing Association boost takeout, defer dues to the National Thoroughbred Racing Association, and get a cash advance from its casino partner in order to cope with NYRA's worsening fiscal picture.
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.
The franchise now held by the embattled New York Racing Association, which is facing insolvency by the end of November, should be awarded to a new operator within six months, New York Senate Majority Leader Joseph Bruno said Thursday.
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.
Five jockeys named as un-indicted co-conspirators will have their fate decided by the New York State Racing and Wagering Board.
The bidding process for the three-track franchise held by the New York Racing Association would be sharply accelerated and NYRA would come under new oversight by the state government under measures being pushed by Gov. George Pataki.
The New York Racing Association has struck a tentative deal with horsemen on a revenue-sharing arrangement for future proceeds from video lottery terminals at Aqueduct Racetrack.
The New York Racing Association, facing legal and political battles on a growing number of fronts, will not be getting its request to lower takeout on bets for the upcoming Saratoga meet.
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