A consortium of major horse industry companies vying for the Thoroughbred franchise in new York began falling apart Oct. 10, as Magna Entertainment and Churchill Downs announced their withdrawal from Empire Racing Associates.
New York Gov. Eliot Spitzer has formally recommended the New York Racing Association continue to operate Aqueduct, Belmont Park, and Saratoga racetracks while a separate operator for future casino developments at Aqueduct and possibly Belmont would be tapped down the road.
Mohegan Sun, which operates one of the world's most successful casinos in Connecticut, has formed a partnership with one of the bidders hoping to run Thoroughbred racing in New York state.
A report by the New York Office of Inspector General to Gov. Eliot Spitzer lists four "general areas of concern" among the four entities seeking the franchise to operate Aqueduct, Belmont Park, and Saratoga, including relationships with rebate shops and bookmakers who take bets on racing from the United States.
New York state officials told three Thoroughbred franchise bidding groups they want to let the New York Racing Association continue running the state's major racetracks and begin a new bidding process for rights to operate casinos at Aqueduct and Belmont Park.
New York officials have called a meeting with the four Thoroughbred franchise bidding groups for June 8 to discuss the future "structure" of the franchise to operate Aqueduct, Belmont Park, and Saratoga.
Empire Racing Associates has accused two of its competitors of secretly meeting to discuss a possible joint venture involving New York's Thoroughbred franchise, which Empire contends violates state procurement rules involving collusion.
The New York Racing Association keeps bleeding funds, according to the racing group's latest disclosure to a federal bankruptcy judge overseeing its reorganization.
Four groups vying for the franchise to operate Aqueduct, Belmont Park, and Saratoga will present their proposals during hearings April 10-11 in Albany, N.Y.
Steve Swindal, the New York Yankees executive embroiled in divorce proceedings with the daughter of George Steinbrenner, has dropped out of Excelsior Racing Associates, one of four groups vying to win the New York Thoroughbred franchise whose proposals were made public April 5.
Four groups have submitted bids to operate New York's Thoroughbred racing franchise, and a final decision could be made by the end of May.
Excelsior Racing Associates lost some of its major backing April 1, with the announcement that the Steinbrenner family and a major New York City development firm will no longer be involved in the effort to obtain New York's lucrative Thoroughbred racing franchise.
A company headed by Richard Fields, who co-developed the Hard Rock Casino and Hotel projects in Florida, has purchased a majority interest in the company that owns Suffolk Downs in Massachusetts.
The reported departure of Steve Swindal from the New York Yankees--and his ties to the Steinbrenner family as well--has thrown into doubt the future of Excelsior Racing Associates, the group trying to take over New York's Thoroughbred racetrack franchise. Excelsior Racing, however, said Swindal remains an "integral part" of the team.
March 31 is the deadline for bidders interested in the New York Thoroughbred franchise to submit proposals, and they also must undergo an "integrity review" by the state inspector general.
Two new groups, including a mystery entity, have joined the process to try to win the state Thoroughbred racetrack franchise now held by the New York Racing Association.
A New York state government panel is being created to evaluate groups interested in taking over the franchise to operate Aqueduct, Belmont, and Saratoga racetracks, a process that suddenly makes wide open the race to replace the New York Racing Association.
Officials said New York Gov. Eliot Spitzer doesn't plan to reopen the bidding process for the state's Thoroughbred franchise--but he doesn't feel obligated to follow the recommendation of a screening panel, either.
The New York Racing Association, currently seeking Chapter 11 bankruptcy protection, reported an operating loss of more than $7 million in December.
Empire Racing Associates will hold a Town Hall meeting to discuss the future of racing in New York Jan. 17 in Saratoga Springs, N.Y.
The New York Racing Association is asking a federal bankruptcy judge to halt the state's plan to turn Aqueduct, Belmont Park, and Saratoga over to the next Thoroughbred franchise-holder.
New York Yankees partner Steve Swindal said his Excelsior Racing Associates group is already discussing future track management and laying plans to take over racing in New York on Jan. 1, 2008 when, he believes, Excelsior will begin operating Aqueduct, Belmont, and Saratoga racetracks.
Empire Racing Associates said it is willing to put more money on the table for the state of New York in order to win the franchise to run racing over the next 20 years at Aqueduct, Belmont, and Saratoga racetracks.
Empire Racing Associates, which made a bid for the franchise to operate three New York racetracks, released a plan Nov. 30 to protect the historic charm of Saratoga Race Course and strengthen racing there. The plan will form a major part of the proposal Empire Racing will take to the state legislature in January, officials said.
Empire Racing Associates, a finalist for New York's Thoroughbred racing franchise, on Nov. 27 released a plan addressing measures designed to improve racing and training safety.
Excelsior Racing Associates has been selected by a state government committee in New York to be the next holder of the franchise to run racing at Aqueduct, Belmont and Saratoga racetracks.
A state panel in New York is poised to recommend its choice for a new franchise holder to run racing at Aqueduct, Belmont, and Saratoga racetracks on Tueday, Nov. 21.
The New York Racing Association has filed for Chapter 11 bankruptcy protection, charging that the state of New York's failure to approve a long-stalled casino project for Aqueduct Racetrack has pushed it toward insolvency.
The New York Racing Association will get its $19-million bailout from state government provided it gives assurances that it "does not anticipate" filing for bankruptcy protection in the next six months.
The first bids for the franchise to operate Aqueduct, Belmont Park, and Saratoga for 20 years beginning in 2008 were submitted Aug. 29 by the current operator and two groups that included developers and casino and racetrack companies allied with Thoroughbred owners and breeders.
A group vying to take over the New York Racing Association's Thoroughbred franchise has added the state's former top racing regulator and a veteran trainer to its ranks.
Bidders vying for the major Thoroughbred franchise in New York blew their own horns -- and did a bit of not-so-subtle bashing of each other -- before an Aug. 1 who's who of racing industry insiders, including members of a state panel considering the bids to operate Aqueduct, Belmont, and Saratoga racetracks.
Retired Hall of Fame jockey Jerry Bailey has joined Excelsior Racing Associates in their bid to take over the New York Racing franchise.
A who's who of racing industry heavyweights formally notified New York state June 30 of their interest in obtaining the franchise now held by the New York Racing Association to operate Aqueduct, Belmont, and Saratoga racetracks.
Most Popular Stories
- Promising Youth on Display in Futurity
- Dortmund Back to Training After Injury
- Half Sisters to Preakness Winners Race Sunday
- KY Downs Ready for Meet With Record Purses
- Ben's Cat Still After Third Turf Monster Win
- American Pharoah to Continue Racing
- Pedigree Analysis: Caro
- First Starter Wins for Sire Get Rich Quick
- Dialed In Colt Leads Louisiana Yearling Sale
- Royal Posse Aces Evan Shipman Stakes Debut