Empire Racing has announced that it has aligned itself with SL Green Realty Corp., Manhattan's largest owner of commercial office real estate, to act as a real estate and financing strategy consultant for Empire Racing as it vies for the contract to operate the franchised tracks currently held by the New York Racing Association in addition to the video lottery terminals slated for Aqueduct Race Track.SL Green is the only publicly held Real Estate Investment Trust that specializes in acquiring, owning, repositioning and managing Manhattan commercial properties in New York City. After the company completes its recently announced acquisition of Reckson Associates Realty Corp., it will have a total market capitalization of approximately $12 billion and its commercial office ownership will consist of 28 million square feet, of which 24.5 million square feet will be in New York City.Empire Racing's chief executive officer Jeff Perlee stated, "SL Green's unparalleled knowledge of the intricacies of the New York market will enable us to efficiently execute our real estate strategy for substantially improving the current racetrack environments. In addition to its real estate operating acumen, its access to capital and expertise in financing large-scale real estate projects will be an extraordinary asset to Empire Racing."
Empire Racing is the official bidding group of the New York Thoroughbred Horsemen's Association. Empire had previously announced the support of Delaware North Companies, Churchill Downs Incorporated, Magna Entertainment Corp., Woodbine Entertainment and Scientific Games.Marc Holliday, president and CEO of SL Green, stated, "Because SL Green and Thoroughbred racing are both deeply rooted in New York, it is only fitting that we put forth the effort to restore the allure of this great sport in our area. By combining our business platform and capabilities with the racing knowledge of Jeff Perlee and his team of dedicated horsemen at Empire Racing, we have established a solid base from which to successfully reposition the future for thoroughbred race tracks in southern New York."Marc Holliday and Stephen L. Green, Chairman of SL Green, are members of the Board of Directors of Empire.