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.
Head of state lottery not certain AEG can meet conditions imposed by New York state.
Philadelphia Park shipper Deputy Daney stretched his unbeaten steak to three Jan. 18, winning the Jan. 18 Jimmy Winkfield Stakes at Aqueduct.
The New York Racing Association, as expected, backed down from its refusal to cooperate with a review of its finances by the state's chief fiscal watchdog.
- By Tom Precious
The New York City Off-Track Betting Corp.'s bankruptcy petition and attempt to alter how it funds the industry risks undermining the state's already hard-hit breeding programs, New York's leading breeding group is warning.
The recent bankruptcy petition by the New York City Off-Track Betting Corp. should be tossed out of federal court, the New York Racing Association argues in a lengthy legal brief filed Jan. 4 in Manhattan.
Citing frigid temperatures and high winds, the New York Racing Association cancelled live racing at Aqueduct for Sunday, Jan. 3.
Frustrated by the delay in picking an Aqueduct casino operator, New York Gov. David Paterson said he is moving to publicly name his choice in hopes of putting pressure on legislative leaders to make a decision.
The last day of 2009 found Ramon Dominguez in the same place as the first -- atop the jockey standings and in the winner's circle at Aqueduct.
The New York Racing Association, which says it will run out of money next year, will not open up its books to let New York's chief fiscal watchdog examine its operations to verify those claims.
The federal government has given preliminary recognition to a Long Island Indian tribe, setting in motion development of a possible casino close to the New York Racing Association's two downstate tracks.
The New York Racing Association has announced an anti-slaughter policy that introduces harsh penalties to offending horsemen while encouraging them to support horse rescue and adoption initiatives.
Aqueduct's Bed o' Roses and Next Move Handicaps are going on hiatus this spring, the New York Racing Association announced Dec. 4, along with other changes in the track's 2010 stakes schedule.
The New York Thoroughbred Breeders and New York Racing Association announced a price reduction in foal nominations to the New York Stallion Stakes Series for progeny of New York-based stallions.
The $150,000 Mohawk and the $150,000 Ticonderoga for fillies and mares, two nine-furlong turf stakes originally scheduled for New York Showcase Day Oct. 24 at Belmont Park, have been moved back one day because of anticipated bad weather.
Due to heavy rain forecast for the New York area during the latter half of the week, The New York Racing Association has moved the scheduled feature race for Oct. 17, the $100,000 Athenia Stakes (gr. IIIT), to Oct. 21.
The Saratoga meet will expand by four days in 2010 and "for the foreseeable future," the New York Racing Association announced Oct. 7.
The New York Racing Association (NYRA) paid tribute to Commentator Sept. 6, at Saratoga Race Course. The 8-year-old chestnut gelding, owned by Tracy Farmer and trained by Hall of Famer Nick Zito, was retired from racing Aug. 9, a day after finishing third in the Whitney Handicap (gr. I). He was attempting to join Discovery and Kelso as the only three-time winners of the race in its 82-year history.
Purse hikes from the incentive program created to increase field size during the 2009 Saratoga Race Course meet totaled $553,990 through Week Five, a 19.5% advance over original purse values, according to The New York Racing Association.
New York Gov. David A. Paterson on Sept. 1 signed Executive Order No. 27, authorizing the New York City Off-Track Betting Corporation (NYCOTB) to file a petition for reorganization under Chapter 9 of the federal bankruptcy code. The governor issued the order after it was determined that NYCOTB requires major restructuring to regain solvency. Paterson has directed the NYCOTB board of directors, led by Chairman Meyer "Sandy" Frucher, to provide the governor's office with a restructuring plan within two months, which likely will include a Chapter 9 filing for NYCOTB.
Attendance and handle turned down fractionally for the first time during the 2009 Saratoga Race Course meet after two inches of rain Aug. 28 and 29 lowered attendance on Shadwell Travers (gr. I) Day and forced seven of the weekend's 11 carded turf races off the turf. Attendance was down 1.6%, on-track handle down 1.6%, and all-sources handle down 2.8% from 2008 totals through week five.
Online wagering companies TVG and Betfair have pledged an additional $400,000 to the New York Racing Association to invite Rachel Alexandra and Zenyatta to participate in the Beldame Stakes (gr. I) at Belmont Park Oct. 3.
New York Racing Association-operated Saratoga has been fully accredited by the National Thoroughbred Racing Association Safety and Integrity Alliance, officials announced Aug. 21.
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