Tom Precious

  • NYCOTB to Close Down April 11

    Officials in New York have failed to agree on a bailout plan for the New York City Off-Track Betting Corp., which issued layoff notices Friday to its 1,300 workers as it prepares to close down April 11.

  • Facing Deadline, New York Seeks NYCOTB Fix

    A plan quietly floated to let the New York Racing Association take over management of the internet and phone wagering business at the struggling New York City Off-Track Betting Corp. has been rejected by Gov. David Paterson.

  • NYCOTB Asks For Help From Tracks, State

    With talks to avoid a shut-down of its operations so far stalled, NYCOTB has floated a plan to state officials to permit it to withhold certain payments to tracks and others to remain solvent the next three months

  • AEG Out as Casino Operator at Aqueduct

    New York officials have scuttled the deal with Aqueduct Entertainment Group to develop a sprawling casino at Aqueduct racetrack, leaving an uncertain future over when the project will ever take shape.

  • NY Lawmakers Want Urgency in Casino Decision

    State lawmakers March 10 urged Gov. David Paterson, who is considering pulling the plug on Aqueduct Entertainment Group's casino deal at Aqueduct, to pick from one of the remaining bidders if the AEG contract is scuttled.

  • NY Drug-Testing Lab to Move From Cornell

    New York lawmakers have given approval to move the state's equine drug-testing laboratory from Cornell University to Morrisville State College. The Senate and Assembly both approved the move March 1.

  • New York Gov. David Paterson

    Is Aqueduct VLT Deal in Jeopardy Again?

    In a major sign the Aqueduct video lottery terminal project could be in jeopardy, Gov. David Paterson is no longer counting on the winning bidder to supply the cash-starved state with $300 million by March 31.

  • NYRA president Charles Hayward

    NYRA Releases Executive Salaries

    The New York Racing Association, which has long resisted revealing salaries of its top executives, has furnished the information to a top state regulator at a time it is warning of running out of cash later this summer.

  • NYCOTB Moves Step Closer to Shutdown

    New York City Off-Track Betting Corp. officials Jan. 25 moved another step nearer to shutting down with approval of letters to employees giving them the legally required notice of a March 30 closure.

  • NY Breeders Group Issues Warning

    The New York City Off-Track Betting Corp.'s bankruptcy petition and attempt to alter how it funds the industry risks undermining the state's already hard-hit breeding programs, New York's leading breeding group is warning.

  • NYRA: Toss Out NYCOTB Bankruptcy Petition

    The recent bankruptcy petition by the New York City Off-Track Betting Corp. should be tossed out of federal court, the New York Racing Association argues in a lengthy legal brief filed Jan. 4 in Manhattan.

  • New York Gov. David Paterson

    Paterson: Aqueduct VLT Operator Decision Near

    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.

  • Belmont Park

    NYRA to Hold Belmont, But Money Will Run Out

    NYRA president Charles Hayward said the state needs to choose a casino operator for Aqueduct or the association will run out of money in June, which puts the Belmont Stakes (gr. I) at risk. As of now, the race will be run.

  • Could Tribal Casino Open Near NYRA Tracks?

    The federal government has given preliminary recognition to a Long Island Indian tribe, setting in motion development of a possible casino close to the New York Racing Association's two downstate tracks.

  • NY OTBs Ordered to Pay Harness Track Millions

    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.

  • Move Planned for New York Drug-Testing Lab

    After nearly four decades, New York's Cornell University is moving to close its world-famous equine drug-testing laboratory. An equine science program at a state university 70 miles up the road is eagerly willing to take over, and expand, an operation vital to the state's horse industry.

  • Aqueduct Casino Said Down to Final Three

    Negotiations for an Aqueduct casino operator have stepped up again, with a new flurry of talks between Gov. David Paterson and legislative leaders occurring in advance of a return by the state legislature the week of Nov. 16 to deal with New York's soaring deficit.

  • All Five Aqueduct Bidders Meet Deadline

    All five remaining bidders for the Aqueduct gaming project said they have met a Nov. 6 deadline to guarantee a quick $200-million payment to the state of New York if they are chosen to develop the video lottery terminal casino at the Queens racetrack.

  • New York Gov. David Paterson

    NY Gov. Meets on Aqueduct Casino Project

    Gov. David Paterson and New York legislative leaders met behind closed doors Oct. 29 in Manhattan to try to resolve the selection of an operator for the long-stalled Aqueduct video lottery terminal casino project.

  • Aqueduct Casino Decision Forthcoming

    Gov. David Paterson hinted that selection of an Aqueduct video lottery terminal casino operator could come as early as Oct. 1, but sources indicated it take a little while longer.

  • PNGI Still in Hunt for Aqueduct VLT Contract?

    Penn National Gaming Inc., believed to be facing an uphill battle in the bidding wars to develop a video lottery terminal casino at Aqueduct, has offered the cash-starved New York state government $250 million in a non-contingency, upfront payment for the exclusive contract and believes it's still in the hunt for the project.

  • Bidding for Aqueduct VLT Project Tightens

    Negotiators in New York have tentatively narrowed down the bidding list to three entities to run the long-delayed video lottery terminal casino at Aqueduct, and a final decision could come as early as the week of Sept. 28.

  • Court Won't Hear Suspended Trainer's Appeal

    In a case that has ramifications for Thoroughbred racing, New York's highest court has refused to hear an appeal by a trainer suspended by state regulators for a pattern of alleged illegal equine drug violations involving horses at Monticello Raceway.

  • NYCOTB Changes Needed to Avoid Insolvency

    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.

  • NY May Demand Horses' Complete Vet Records

    State racing regulators in New York, seeking additional and timely information about medications given to racehorses, are eyeing a major crackdown on recordkeeping practices by Thoroughbred owners and trainers.

  • NY Senator: Upfront Money Not There

    Officials in New York recognize they will not be getting the upfront payment money for the Aqueduct casino franchise they had been expecting before the economy turned sour, according to the head of the Senate's racing committee.

  • Slot Machine

    NY Horse Industry: Award VLT Project Now

    They tapped various talking points -- from higher purses and a beefed-up breeding industry to protecting green space and even family values -- but a group of Thoroughbred representatives have brought a singular message to state officials: Get the Aqueduct video lottery terminal casino off the ground.

  • NY Bill Gives Group More Money From Purses

    A New York horsemen's group will continue to get additional purse money to fund its operations, including health benefits for backstretch workers at New York Racing Association tracks, under final passage of legislation July 16 by the state Senate.