Tom Precious

  • NY Officials Scramble for Aqueduct Bids

    As state officials in New York scrambled to re-group following the collapse of the Delaware North plan to build a casino at Aqueduct racetrack, at least one of the former bidding groups said it would be interested in making a new bid on the long-stalled project.

  • More Delays For Aqueduct Casino Project

    The long-stalled Aqueduct casino project will now be facing yet another delay, as the company that won the rights to develop the facility is telling the state it cannot meet a deadline to make its $370 million franchise fee payment.

  • Court Refuses NYRA Appeal in OTB Case

    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.

  • Trainer William Badgett Jr.

    Badgett Appealing TCO2 Positive

    Thoroughbred trainer William Badgett Jr. is facing a 60-day suspension and $1,000 fine by New York regulators after a one of his horses showed excessive levels of TCO2.

  • Issues Delaying VLT Casino at Aqueduct

    The company selected to operate video lottery terminals at Aqueduct said there are a host of unresolved issues, including restructuring its financing deal, before it can close on a final agreement with the state of New York to begin construction on the long-delayed facility.

  • Chief Financial Officer Exits NYRA

    The New York Racing Association's top fiscal executive has left, but the corporation is declining to provide any explanation or to say whether the departure was voluntary.

  • NYRA Projects Surplus; Budget Deferred

    The New York Racing Association is projecting a surplus next year, its first since 2000, despite an estimated drop in handle at its three racetracks brought on by the economic downturn. But regulators Dec. 22 were unconvinced about some of the optimistic forecasts, and deferred approving NYRA's 2009 budget.

  • Belmont Park

    NY Governor Proposes Belmont Casino

    New York Gov. David Paterson is proposing to permit a casino at Belmont racetrack, a move he believes will raise $370 million in a franchise fee payment to the deficit-ridden state.

  • A New Casino Push in New York

    Three casinos would be permitted in New York's Catskills tourist region under a constitutional amendment introduced in the Legislature for consideration next year.

  • Aqueduct Casino Project Finally Approved

    New York state officials finally gave Delaware North approval to build and operate a video lottery casino at Aqueduct. The racetrack will house New York City's only legal casino, which could generate tens of millions for purses and breeders' awards.

  • NY Advisory Board Process Started

    State regulators in New York have begun the process of creating advisory boards to wrestle with issues in the communities surrounding the New York Racing Association's racetracks.

  • New York Bans Racehorse Steroids

    <P>New York is joining other states in cracking down on steroid use in horse racing, state regulators announced Oct. 14. <P>"For the sake of the betting public, we want to do everything in our power to ensure that racing runs on a level playing field," said John Sabini, chairman of the New York State Racing and Wagering Board, in a statement. "By imposi...

  • Aqueduct VLTs to Finger Lakes Owner?

    New York Gov. David Paterson selected Delaware North to run a new, sprawling video lottery terminal casino at Aqueduct, sources at the state capital said Oct. 10. But the Senate balked at his choice.

  • Slot Machine

    Crisis Brings Calls for Aqueduct VLTs

    The nation's financial crisis has stepped up efforts to prod state government in New York to select an operator for the long-stalled video lottery terminal casino at Aqueduct, and launched a renewed effort to bring VLTs to Belmont Park.

  • NYRA Gets 25-Year Extension

    The New York Racing Association, created more than 50 years ago to bolster the Thoroughbred industry, took on a new life Sept. 12 with the formal approval by the state of a new 25-year franchise to exclusively operate Aqueduct, Belmont, and Saratoga racetracks.

  • NY Lawmakers Back Off Takeout on Bets

    State lawmakers in New York have backed off on a looming law raising the takeout on bets made on out-of-state Thoroughbred races, a move the industry said would have put the state at a competitive disadvantage with other states.

  • Aqueduct

    Aqueduct Casino Project Moves Forward

    The three bidders vying for lucrative rights to develop a casino at Aqueduct racetrack in New York have all passed a critical background check by the state, Governor David Paterson said July 20.

  • NYRA Granted Another Temporary Extension

    The New York Racing Association has been granted another temporary extension to continue operating during most of the Saratoga meet while it negotiates a final deal with the state for a 25-year franchise.

  • Bill Would Clear Way for NYRA Bankruptcy

    The bill is fairly minor in nature, enacting a series of mostly technical amendments to a law approved earlier this year giving NYRA a 25-year extension to run Aqueduct, Belmont Park, and Saratoga. But NYRA officials have said they could not resolve its bankruptcy proceeding without it.

  • The NYRA franchise extension will be one of several racing issues taken up by the state legislature beginning June 23.

    NY Lawmakers to Look at Several Issues

    The still-stalled franchise extension for the New York Racing Association, a new steroid testing lab, and a company to run a casino at Aqueduct Racetrack are all still on the negotiating table June 23 when lawmakers in New York return to the Capitol for the final days of the 2008 legislative session.

  • Final Approval to New York OTB Deal

    Lawmakers in New York have given final approval of a deal in which the state takes over the control of the New York City Off-Track Betting Corp, a move that could be a prelude to consolidation of all the OTBs across the state.

  • It's Official: State Takes Over NYCOTB

    New York officials announced the evening of June 15 a deal to avert the closure of New York City Off-Track Betting Corp. by having the state take over the entity. The move could be a prelude to a statewide consolidation of all OTB corporations.

  • State to Take Over NYCOTB

    The state of New York will take over the operations of the New York City Off-Track Betting Corp., Gov. David Paterson announced June 13, as part of a broader plan that could end up consolidating all of the state's OTBs.

  • NYCOTB Takeover Plan Appears Likely

    Negotiators in New York the afternoon of June 13 were putting the final touches on legislation in which the state would take control of the New York City Off-Track Betting Corp., thereby averting a shutdown of the city's betting operations for the weekend.

  • New Plan Has State Running NYCOTB

    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.

  • Governor Open to Options to Save OTB

    New York Gov. David Paterson said all options â€" including a takeover by the state or the New York Racing Association -are on the table if a deal is not struck by this weekend (June 14-15) to keep open the New York City Off-Track Betting Corp.

  • Compromise Urged on New York City OTB

    With the clock ticking on the closure of the New York City Off-Track Betting Corp., officials from the Bloomberg administration are stepping up their calls for industry stakeholders to compromise on a bill or face the loss of more than $100 million in OTB distributions.

  • Mixed Signals on NYRA Franchise Deal

    New York Gov. David Paterson sent mixed signals about reopening the deal giving the New York Racing Association a 25-year franchise extension to operate Aqueduct, Belmont, and Saratoga racetracks.

  • Mixed Signals from Paterson on NYRA Deal

    New York Gov. David Paterson is sending mixed signals on whether he wanted to re-open talks with the New York Racing Association over its deal for a new franchise to operate Aqueduct, Belmont and Saratoga racetracks.

  • NYCOTB May Lower Revenue Sharing

    Racing industry groups have begun lining up to oppose a plan to permit the New York City Off Track Betting Corp. to lower its revenue sharing payments to tracks, breeding funds, and other entities.

  • New York Officials Working to Save OTB

    State officials are working on a plan to help keep the New York City Off Track Betting Corp. from shutting by shaving up to 20% of revenue-sharing the OTB now makes to various entities, including the New York Racing Association, out-of-state tracks, and breeding programs.

  • Hard Rock Bids for Aqueduct VLTs

    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.

  • Negotiations Begin Concerning NYCOTB

    Preliminary negotiations have begun at the state Capitol in Albany to address New York Mayor Michael Bloomberg's threat to shut down the New York City Off-Track Betting Corp. in June.

  • NYRA Granted Extension Through April 27

    The New York Racing Association, which has had to delay its emergence from Chapter 11 bankruptcy protection, was given another extension by the state to continue racing at its tracks.

  • Hearing Delay Shouldn't Impact NYRA

    Officials cautioned that a delay in the New York Racing Association emerging from Chapter 11 bankruptcy protection is not a sign of a larger problem for the deal giving NYRA a new 25-year franchise extension.

  • New York governor Eliot Spitzer

    NYRA OK, But OTB Closure Looming

    Legislation giving the New York Racing Association a 25-year extension of its exclusive Thoroughbred franchise was signed Feb. 19, Gov. Eliot Spitzer said. Meanwhile, the mayor of New York City reiterated that New York City Off-Track Betting Corp. can't continue under its current arrangement with the state.

  • NYRA Wins 25-Year Franchise

    The New York Racing Association, written off as dead a year ago by its competitors, has won the rights to a 25-year exclusive franchise to continue operating Aqueduct, Belmont, and Saratoga racetracks.