Tom Precious

  • Cost of Aqueduct VLT Parlor Jumps to $170M

    The projected cost of building the long-planned video lottery terminal casino at Aqueduct has soared nearly 20% since it was first proposed several years ago, New York Racing Association officials said.

  • New York Gov. George Pataki.

    Pataki Approves VLT Bill More Beneficial to Tracks

    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.

  • New York Lawmakers Approve VLT Changes

    The New York legislature has given final approval to a measure to increase the share of video lottery terminal revenue for racetracks, as well as jump-start the long-stalled VLT casinos at Aqueduct and Yonkers Raceway.

  • New York Legislators Push VLT Budget Measure

    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.

  • New York Lawmakers Said to Have VLT Deal

    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.

  • New York VLT Bills Approved by Senate

    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.

  • Mixed Bag for New York Racing Proposals

    The New York Assembly has rejected proposals by Gov. George Pataki to create an oversight board to monitor the New York Racing Association, form a super-agency to oversee all aspects of gambling, and create eight additional video lottery terminal casinos.

  • 'For-Profit' Franchise Holder Urged for NYRA

    The franchise for the New York Racing Association should be put out to bid and awarded to an entity that will turn the troubled racing group into a for-profit enterprise, the New York state Legislature's top Republican said Tuesday.

  • Group's Goal: A Better Model for New York

    The future shape of New York's Thoroughbred industry will be the focus of a new group of the nation's leading racing industry insiders, whose chief mission will be to propose a new business model for racing in the state.

  • New York Gov. George Pataki, favors five Vegas-style casinos.

    VLT Legislation Introduced in New York

    Legislation has been introduced in New York to sweeten the pot for racetracks operating video lottery terminals, and to encourage the New York Racing Association's VLT partner to begin construction of a new casino at Aqueduct.

  • Hayward Officially Named CEO of NYRA

    The New York Racing Association has named Charles Hayward, a former president of <i>Daily Racing Form</i>, as its new president and chief executive officer. Hayward replaces Terry Meyocks, who resigned following several years of legal and financial turmoil at NYRA.

  • Former DRF Executive Could Land Top NYRA Job

    The New York Racing Association is close to naming a new president, and sources say Charles Hayward, the former chief executive officer of the <i>Daily Racing Form</i>, is in line to take over at a crucial time in the racing entity's history.

  • NYRA chairman Barry Schwartz on the previous Triplce Crown contract: &quot;It&#39;s not an equitable split.&quot;

    It's Official: Belmont Stakes Headed to ABC

    The 18-year-old television deal between the partners in Triple Crown Productions has been dissolved. Just days after New York Racing Association chairman Barry Schwartz said the NYRA would move in another direction, it was announced Oct. 4 the Belmont Stakes (gr. I), third leg of the Triple Crown, would be broadcast via ABC Sports beginning in 2006.

  • Conflict Between NYRA, Track Cooperative Heats Up

    With the New York Racing Association's handle down since its signal was pulled by the MidAtlantic Cooperative in mid- September, NYRA chairman Barry Schwartz said the dispute can be resolved only if the racetracks in the group "come to their senses."

  • Partners in Triple Crown Productions at Odds

    A rift has developed among the partners in Triple Crown Productions, which holds the television rights to the three grade I Visa Triple Crown events: the Kentucky Derby at Churchill Downs, the Preakness Stakes at Pimlico Race Course, and the Belmont Stakes at Belmont Park.

  • N.Y. Trainer Sciacca Hit With 120-Day Ban

    Thoroughbred trainer Gary Sciacca was suspended for four months and two of his employees and a Belmont Park veterinarian were handed stringent penalties Wednesday by the New York State Racing and Wagering Board over milkshaking charges stemming from last year.

  • NY Legislature Ends Without Racing, VLT Bills

    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.

  • MEC Has Plans--With or Without NYRA

    Magna Entertainment Corp. is still willing to partner with the New York Racing Association, but it is also pursuing its own move into the New York marketplace in case NYRA isn't serious about a merger, MEC president Jim McAlpine said.

  • Barry Schwartz, CEO of the New York Racing Association.

    Schwartz: Time to Relinquish Full-Time NYRA Post

    The New York Racing Association's chief executive officer isn't willing to definitively say National Thoroughbred Racing Association commissioner Tim Smith will take over as president, but Barry Schwartz believes the time has come for him to step aside from his full-time NYRA post.

  • Report Indicates Shift in New York Wagering

    More money was wagered in New York on out-of-state races than in-state races in 2003, the first time such a shift has occurred, according to a new report by the New York State Racing and Wagering Board.

  • Will Saratoga Neighbor Add More Gaming Machines?

    Not only will Saratoga Gaming and Raceway not close down its video lottery terminal parlor in August to accommodate the New York Racing Association, but there is talk of the NYRA neighbor adding another 700 VLTs, a state official said.

  • New York Court: VLT Revenue Deal Unconstitutional

    A New York appeals court July 7 said the revenue-sharing agreement for racetrack video lottery gambling is unconstitutional, a decision that raises new questions about a program that has stalled at the state's biggest tracks.

  • Spa Prepares for 'Best Racing in the Nation'

    The New York Racing Association June 28 unveiled the details of its 2004 Saratoga meet, a 36-day gathering with a heavy line-up of horses and top trainers but one that will operate under the watchful eye of a court-appointed monitor.

  • Analysts: New York Racinos No Sure Bet

    Hit by relatively high revenue-sharing demands from the state and plans for even more gambling competition, New York's racetrack video gaming machine program has a murky future, Wall Street analysts and industry officials said.

  • NY Racing Bill Blocked, Republicans Claim

    New York Republican officials are growing increasingly frustrated with Democrats who run the Assembly for blocking a measure to overhaul racing regulation and setting up a new state monitor to oversee the operations at the troubled New York Racing Association.

  • Bill to Revamp New York Racing Passes Senate

    The New York state Senate June 3 gave quick approval to a plan to overhaul the regulation of racing in the state, including a provision designed to get video lottery terminals installed this year at Aqueduct.

  • Stalled VLT Operation Leads Racetrack to Close

    Batavia Downs, believed to be the nation's oldest nighttime Standardbred track, will not open for racing this summer because of dwindling revenue and an inability to get financing for its racino operation, track officials said.

  • New York Gov. George Pataki, has proposed overhaul of racing laws.

    Consolidation of Racing, Gaming Sought in New York

    New York Gov. George Pataki May 27 proposed a complete overhaul of racing laws in the state, a move that would block the New York Racing Association's bid to get its racetrack franchise extended this year, and provide incentives to get video lottery terminals in operation at Aqueduct.

  • VLTs Spark Interest in Long-Shut Tioga Park

    An investment group is taking ownership of Tioga Park, shuttered to racing in upstate New York since 1978, with plans to begin Standardbred racing next year in a facility that it hopes will also include a video lottery terminal casino.

  • Merger Talks Between NYRA, Magna Resume

    The New York Racing Association and Magna Entertainment Corp. again are discussing merger possibilities, two months after the NYRA board flatly rejected a bid by Frank Stronach's company to become financial partners.

  • Non-Carryover Pick Six Takeout Drops; OTB Balks

    As some lawmakers and off-track betting corporations push for an increase in pari-mutuel takeout, New York regulators March 30 agreed to lower the takeout on certain pick six wagers at New York Racing Association tracks.

  • Takeout Rates Again Fuel Conflict in New York

    Pari-mutuel takeout wars have begun in New York, where a state senator has introduced legislation to increase the amount the New York Racing Association keeps on wagers. Though the measure's sponsor said the takeout hike is needed to help stop NYRA's financial bleeding, NYRA chairman Barry Schwartz insists the legislation would turn off bettors and decrease purses.

  • Horsemen's Bill Introduced in New York Senate

    Two weeks after floating its legislative proposal around the state Capitol, the New York Thoroughbred Horsemen's Association has found a legislator to introduce a measure that would force the New York Racing Association to reimburse millions of dollars it borrowed from the horsemen's purse account.