Tom Precious

  • Aqueduct Casino Bidding Process Halted Again

    A New York state judge has temporarily halted the bidding process for the Aqueduct casino project to give time to consider a lawsuit brought by a consortium that had won the casino rights in a previous bidding round.

  • New York City OTB President Resigns

    The financially struggling New York City Off-Track Betting Corp. has accepted the resignation of its long-time president, and quickly filled his job with a replacement making nearly 10 times as much.

  • New York to Add 'Uncoupled' Wagering Rule

    New York's new uncoupled wagering rule will be in place before the start of the upcoming Saratoga racing meet, the state's top industry regulator said June 25, and should be a boost for track handle.

  • Slot Machine

    Lobbyist Given Info on Other Aqueduct Bidders

    A politically-wired lobbyist for a bidding group that initially won the development rights to the Aqueduct casino project was provided details about competitors' bids by the top Democrat in the New York state Senate.

  • NYCOTB Chairman Said to Have Resigned

    The head of the embattled New York City Off-Track Betting Corp. has resigned at a time when the betting giant is attempting to create a financial survival plan, sources close to the matter said the evening of June 4.

  • New York Lawmakers Approve NYRA Loan

    New York State lawmakers on May 24 approved a $25 million loan for the New York Racing Association, keeping the racetrack operator solvent for at least the rest of the year and avoiding a shutdown of its operations.

  • Breeders to Seek $17M for NYRA With Lawsuit

    A group of about 10 Thoroughbred breeding farms and the Saratoga County Chamber of Commerce next week will sue the state of New York to try to force it to loan $17 million to the New York Racing Association.

  • NY Casino Net Winnings Top $1 Billion

    Racetrack casino gambling in New York grew in all but one facility in the past year, as the net winnings of the racinos topped $1 billion for the first time since slots were permitted in the state in 2001.

  • NYC OTB Workers in Line for Pay Hikes

    More than 1,000 unionized workers at New York City Off-Track Betting Corp. are in still in line for pay hikes and severance deals but won't be paid until a long-term agreement is made.

  • NYRA Seeks State Loan; NYOTB Cuts Staff

    NYRA may get a $17 million loan to help its cash crunch. Meanwhile, New York Off-Track Betting on April 23 cut 35 employees from his staff as it works through bankruptcy reorganization.

  • NYCOTB Bailout Deal Goes Up in Smoke

    An effort to bail out New York City Off-Track Betting Corp. collapsed April 14, leaving uncertainty over whether the betting giant will have to close its doors the weekend of April 17.

  • Lawmakers Working on NYCOTB Deal

    Negotiators are closing in on a deal to keep the money-losing New York City Off-Track Betting Corp. alive for another year, but last-minute sticking points have been jamming up a final agreement the past 24 hours.

  • New York's OTB Facing April 11 Shutdown

    The nation's largest off-track betting corporation will be shut down on the night of April 11 if a deal to provide it with financial help does not come together over the weekend, officials warn.

  • 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.