Tom Precious

  • New York OTB

    Battle Lines Drawn in NYCOTB Reorganization

    Officials said they are close to a deal to try to bring New York City Off-Track Betting Corp. out of bankruptcy protection, but that a final agreement is being blocked by several harness tracks in the state.

  • Aqueduct Race Track

    Aqueduct Casino Work to Begin Soon

    Genting New York officials, after turning over $380 million in licensing fee payments to the state, said they are prepared to quickly start construction on the Aqueduct casino project.

  • Aqueduct Race Track

    Check Ceremony for Aqueduct Casino Planned

    It is the photo opportunity the state of New York and the racing industry has been awaiting: a $380 million check presented by the company selected to run the much-delayed Aqueduct casino project.

  • Aqueduct Race Track

    Aqueduct VLT Contract Gets Comptroller's OK

    Nine years after first being approved, the last major hurdle for the Aqueduct video lottery terminal casino project was cleared Sept. 13 when the state's chief fiscal watchdog gave his approval for the project.

  • New York Gov. David Paterson

    Paterson, Legislators Sign Aqueduct VLT Pact

    It has taken three governors four different tries, but Gov. David Paterson and legislative leaders made it official Aug. 17: Genting New York will be the operator of the Aqueduct video lottery terminal casino.

  • Judge Rejects Aqueduct Casino Bid Challenge

    A legal challenge to stop the current Aqueduct casino bidding process and award the contract to a previous bidder was tossed out by a New York state judge July 29, said state officials who were in the courtroom.

  • 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