Seven creditors are negotiating to clear the slate on nearly $100 million in debt owned by the New York Off-Track Betting Corp.
Total wagering remained close to last year's comparable figure while attendance and ontrack handle inched upward despite two rainy days through the fourth full week of racing at Saratoga.
Participants in The Jockey Club Round Table Aug. 22 in Saratoga Springs, N.Y., sought to convey optimism and opportunity in the face of declines in many facets of the Thoroughbred industry.
The New York Racing Association is offering a Travers Stakes Prize Package, which includes two tickets to the Travers Stakes (gr. I) August 28, two airline tickets, and two nights' accommodation in Saratoga Springs, N.Y.
After nine years of on-again, off-again movement, the Aqueduct casino project now seems all but certain to be a done deal.
The New York Racing Association has suspended nine stakes and reduced purses for 12 others during its fall meets at Belmont Park and Aqueduct.
A group of creditors involved in the NYCOTB bankruptcy proceeding has suggested a number of changes, including a 1% surcharge on wagers, according to a June document.
On-track wagering was stable and overall handle declined slightly during the 57-day Belmont Park meet that concluded July 18.
Starting July 23 at Saratoga and continuing at Belmont Park and Aqueduct, the stewards' race-day decisions involving the official order of finish will be communicated via the simulcast feed and will also be posted to NYRA.com
A number of groups, including the New York Racing Association, have approached state officials about taking over all or part of the New York City Off-Track Betting Corp.
The New York Racing Association announced plans July 14 to expand and enhance its in-house drug testing program in order to detect illegal performance-enhancing substances in Thoroughbred race horses.
It's time for well-run, publicly-listed businesses to be allowed the opportunity to buy the NYRA tracks. Read Blog
Three jump races and one turf race will be presented by the National Steeplechase Association during the 30th annual open house at Saratoga Race Course from 11 a.m. to 4 p.m. on Sunday, July 18.
A report by the state comptroller took the New York Racing Association to task for failing to rein in spending and says NYRA faces insolvency if revenues from a racino fail to materialize and expenses are not curtailed.
A jockey autograph session hosted at Belmont Park June 26 raised $1,000 that will be shared equally by the Barbaro Fund for Equine Health and Safety Research and the Permanently Disabled Jockeys Fund.
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.
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.
Mike Lakow, general manager of John Sikura's Hill 'n' Dale Farms, is leaving his position to pursue his own career in racing.
Veteran jockey Richard Migliore announced his retirement from the saddle the morning of June 2 at a press conference at the Garden Terrace at Belmont Park.
The New York Racing Association has announced it will offer a $1 million guaranteed "All Graded Stakes Pick 4" and a $1 million guaranteed "All Graded Stakes Pick 6" on Belmont Stakes Day June 5.
NYRA has announced a partnership with Betfair TVG that includes the creation of the Betfair TVG Triple Tiara, comprising the Betfair TVG Acorn, the Betfair TVG Coaching Club American Oaks, and the Betfair TVG Alabama.
The New York Racing Association announced May 27 that the Ram Truck brand has entered into a sponsorship deal for the week of the June 5 Belmont Stakes (gr. I).
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.
A $25-million loan proposal could keep the New York Racing Association operating through the spring of 2011.
NYRA is required under the Workers Adjustment and Retraining Notification Act that they to have to send out two-month advance word to employees of possible layoffs
State officials in New York have agreed on one point: that they will not let the New York Racing Association shut down after the Belmont Stakes (gr. I) or for the Saratoga summer meet.
- By Tom Precious
Legal restrictions foil proposal to keep NYRA solvent through the current year. NYRA says state is behind on payments they promised to make.
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.
The New York Racing Association announced May 3 that Charles V. Wait has been appointed by NYRA to its board of directors, replacing Lucy Young Hamilton.
- By Tom Precious
The New York Racing Association could run out of cash before July 1 under a doomsday scenario provided to its board of directors.
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.
- By Tom Precious
Seeking to avoid a "profound" impact on the state's racing industry, New York City Off-Track Betting Corp. will not shut down April 18 as planned.
New York Racing Association officials have asked Breeders' Cup to consider Belmont Park has the 2011 host site for the World Championships, and also said a three- or four-track rotation best serves the event.
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.
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.
The NYTB honored its 2009 state-bred champions at its annual awards banquet April 12. Multiple winners were Haynesfield, Banrock, and Canadian Ballet. Funny Cide was honored as the Horse of the Decade.
The New York Racing Association has uploaded the replays from all 11 races that the brilliant Personal Ensign won on the NYRA circuit.
The Board of Directors of the New York City Off-Track Betting Corp. announced April 9 a temporary suspension of its planned layoffs of the organization's more than 1,300 employees, which was set to take effect April 11.
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.
- By Tom Precious
Legislation introduced April 2 would permit a New York state government panel to take over the operations of the New York City Off-Track Betting Corp. if it shuts down.
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.
Charles Hayward, president of the New York Racing Association, sent word to NYRA officials March 26 that a dozen administrative positions at the racing group are being eliminated.
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.
New York City Off-Track Betting Corp., facing a possible shutdown, can continue its bankruptcy reorganization case, a federal judge ruled March 22.
Dominguez, who swept every NYRA meet last year, is currently the nation's leading rider by number of wins for 2010.
The 2010 Belmont Stakes (gr. I) logo features a galloping horse before the Brooklyn Bridge, the New York City skyline, and the Empire State Building. The 142nd Belmont is set for June 5.
The New York Racing Association, which announced it would cut $4.3 million in stakes purses from last year, has slashed around $1.4 million from its stakes program for the upcoming Belmont and Saratoga meets.
Owner's Virtual Stable, powered by Equibase, will e-mail owners when their horses are entered and include links to overnights, past performances, and other products for purchase.
- By Tom Precious
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.
The New York Racing Association announced Feb. 15 that Anthony J. Bonomo has been appointed by the New York State Senate to NYRA's board of directors.
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