Six different groups have submitted a $1 million entry fee to be a part of the newest bidding process for the delayed Aqueduct casino project.
New York's rules governing racetrack and off-track revenue-sharing took another twist Dec. 15 as state racing regulators ordered four downstate off-track betting corporations to pay millions of dollars to Yonkers Raceway.
The parent company of TVG reported a record handle of $148.5 million for the third quarter of 2007, and announced a new wagering partnership in New York during a Nov. 1 conference call with analysts.
A measure to increase the share of video lottery terminal revenue for New York racetracks, as well as jump-start the long-stalled VLT casinos at Aqueduct and Yonkers Raceway, has been given final approval by Gov. George Pataki.
The Republican-led Senate and Democratic-run Assembly in New York have introduced legislation to sweeten the pot for racetracks with video lottery terminals, though the measure restricts the amount of extra money that would go to Aqueduct and Yonkers Raceway compared to other tracks.
Lawmakers in New York have agreed to repair a state law that has kept Aqueduct and Yonkers Raceway from opening their video lottery terminal casinos in a deal that will bring the state up to $1 billion in revenue each year.
Seeking to prod along negotiations, the New York Senate approved two bills March 17 designed to open long-stalled video lottery terminal casinos at Aqueduct and Yonkers Raceway, believed to be New York's most lucrative racetracks for gaming.
A measure to encourage the operation of video lottery terminals at several big racetracks in New York, including the New York Racing Association's Aqueduct track, collapsed Aug. 12 in Albany amid industry infighting, political intrigue and head-butting among powerful lobbyists.
An influential state senator says racetracks in New York should be given more of a split from the state's still dormant video lottery terminal program as a way to get the machines running and revenue flowing for New York's deficit-ridden budget.
Standardbred racing's all-time leading driver, on the sidelines since 1995 after his involvement in a wire-tap investigation, is scheduled to return to the track June 23 at Harrington Raceway in Delaware.
Other tracks in New York have joined the New York Racing Association in condemning aspects of the state's new law that authorizes video lottery terminals. They claim state government is forcing them to pick up too many of the costs of the program.
- By Tom Precious
Officials in New York are closing in on a historic gambling package that would give some racetracks video lottery terminals, permit up to six Indian-owned casinos in western New York and the Catskill Mountains, and expand the
state's lottery offerings.
The New York harness track raised some eyebrows in December when it said its primary option in the event of an emergency was to "say the Rosary," but it recently submitted a proper evacuation planand was licensed for 2001.
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