Keyword: precious

  • Legality of NY Racino Games Questioned

    Having failed to get a law approved permitting racetrack casinos to offer electronic table games, New York Gov. David Paterson's Lottery Division is moving ahead with plans for the new gambling devices at the state's eight racetrack-based casinos. But a lawyer who has sued the state over past gambling expansions said the Paterson administration may be playing with legal fire.

  • NY Officials Set Deadline for Casino Bid OK

    New York officials this week told bidders vying for the Aqueduct casino development rights to assume the contract will be awarded by Aug. 1, a questionable timetable given the chaos and leadership questions still swirling following a coup in the state Senate June 8.

  • NY Panel to OTBs: Hold Off on Long-Term Deals

    A New York government panel studying whether to alter the current structure of the state's off-track betting system has asked the OTBs to hold off on signing any long-term deals, a move that suggests the panel could have sweeping changes in mind.

  • Seven Bids Submitted For Aqueduct Casino

    Trying one more time, the state of New York accepted seven new bids - from major casino operators to real estate and racing interests -- to develop a casino at Aqueduct racetrack, an authority first approved for the facility back in 2001.

  • Lawmaker: Let NYRA Develop VLT Casino

    The state of New York should abandon efforts to find new bidders to develop a video lottery terminal casino at Aqueduct and instead tap the New York Racing Association to run the long-delayed facility, a leading state lawmaker believes.

  • Takeout Increase Blocked in New York

    New York Gov. David Paterson signed legislation March 13 to block a scheduled across-the-board takeout increase in out-of-state wagers placed at tracks and OTB parlors in the state.

  • More Delays For Aqueduct Casino Project

    The long-stalled Aqueduct casino project will now be facing yet another delay, as the company that won the rights to develop the facility is telling the state it cannot meet a deadline to make its $370 million franchise fee payment.

  • Trainer William Badgett Jr.

    Badgett Appealing TCO2 Positive

    Thoroughbred trainer William Badgett Jr. is facing a 60-day suspension and $1,000 fine by New York regulators after a one of his horses showed excessive levels of TCO2.

  • Issues Delaying VLT Casino at Aqueduct

    The company selected to operate video lottery terminals at Aqueduct said there are a host of unresolved issues, including restructuring its financing deal, before it can close on a final agreement with the state of New York to begin construction on the long-delayed facility.

  • Chief Financial Officer Exits NYRA

    The New York Racing Association's top fiscal executive has left, but the corporation is declining to provide any explanation or to say whether the departure was voluntary.

  • NYRA Projects Surplus; Budget Deferred

    The New York Racing Association is projecting a surplus next year, its first since 2000, despite an estimated drop in handle at its three racetracks brought on by the economic downturn. But regulators Dec. 22 were unconvinced about some of the optimistic forecasts, and deferred approving NYRA's 2009 budget.

  • Belmont Park

    NY Governor Proposes Belmont Casino

    New York Gov. David Paterson is proposing to permit a casino at Belmont racetrack, a move he believes will raise $370 million in a franchise fee payment to the deficit-ridden state.

  • Aqueduct

    Aqueduct Casino Project Moves Forward

    The three bidders vying for lucrative rights to develop a casino at Aqueduct racetrack in New York have all passed a critical background check by the state, Governor David Paterson said July 20.

  • NYRA Granted Another Temporary Extension

    The New York Racing Association has been granted another temporary extension to continue operating during most of the Saratoga meet while it negotiates a final deal with the state for a 25-year franchise.

  • Bill Would Clear Way for NYRA Bankruptcy

    The bill is fairly minor in nature, enacting a series of mostly technical amendments to a law approved earlier this year giving NYRA a 25-year extension to run Aqueduct, Belmont Park, and Saratoga. But NYRA officials have said they could not resolve its bankruptcy proceeding without it.

  • Final Approval to New York OTB Deal

    Lawmakers in New York have given final approval of a deal in which the state takes over the control of the New York City Off-Track Betting Corp, a move that could be a prelude to consolidation of all the OTBs across the state.

  • It's Official: State Takes Over NYCOTB

    New York officials announced the evening of June 15 a deal to avert the closure of New York City Off-Track Betting Corp. by having the state take over the entity. The move could be a prelude to a statewide consolidation of all OTB corporations.

  • NYCOTB Takeover Plan Appears Likely

    Negotiators in New York the afternoon of June 13 were putting the final touches on legislation in which the state would take control of the New York City Off-Track Betting Corp., thereby averting a shutdown of the city's betting operations for the weekend.

  • Compromise Urged on New York City OTB

    With the clock ticking on the closure of the New York City Off-Track Betting Corp., officials from the Bloomberg administration are stepping up their calls for industry stakeholders to compromise on a bill or face the loss of more than $100 million in OTB distributions.

  • Mixed Signals on NYRA Franchise Deal

    New York Gov. David Paterson sent mixed signals about reopening the deal giving the New York Racing Association a 25-year franchise extension to operate Aqueduct, Belmont, and Saratoga racetracks.

  • Mixed Signals from Paterson on NYRA Deal

    New York Gov. David Paterson is sending mixed signals on whether he wanted to re-open talks with the New York Racing Association over its deal for a new franchise to operate Aqueduct, Belmont and Saratoga racetracks.

  • NYCOTB May Lower Revenue Sharing

    Racing industry groups have begun lining up to oppose a plan to permit the New York City Off Track Betting Corp. to lower its revenue sharing payments to tracks, breeding funds, and other entities.

  • NYRA Granted Extension Through April 27

    The New York Racing Association, which has had to delay its emergence from Chapter 11 bankruptcy protection, was given another extension by the state to continue racing at its tracks.

  • Hearing Delay Shouldn't Impact NYRA

    Officials cautioned that a delay in the New York Racing Association emerging from Chapter 11 bankruptcy protection is not a sign of a larger problem for the deal giving NYRA a new 25-year franchise extension.

  • New York governor Eliot Spitzer

    NYRA OK, But OTB Closure Looming

    Legislation giving the New York Racing Association a 25-year extension of its exclusive Thoroughbred franchise was signed Feb. 19, Gov. Eliot Spitzer said. Meanwhile, the mayor of New York City reiterated that New York City Off-Track Betting Corp. can't continue under its current arrangement with the state.

  • NYRA Wins 25-Year Franchise

    The New York Racing Association, written off as dead a year ago by its competitors, has won the rights to a 25-year exclusive franchise to continue operating Aqueduct, Belmont, and Saratoga racetracks.

  • New York Governor Eliot Spitzer

    NYRA Franchise Deal Approved

    The New York Racing Association will run racing for the next 25 years under legislation approved February 13 that provides hundreds of millions of dollars in direct aid and loan forgiveness to NYRA and new oversight abilities by the state.

  • New York Senate Majority Leader Joseph Bruno at Press Conference on Feb. 7.

    Bruno: 'Scare Tactics' Must End

    While unveiling what he called the framework of a Thoroughbred franchise agreement, Senate Majority Leader Joseph Bruno blasted the New York Racing Association Feb. 7 for attempting to scare its workers and horsemen by threatening a shutdown Feb. 14.

  • NYRA Gets New Temporary Extension

    Negotiators in New York have agreed to another temporary extension to keep racing operating while talks continue on a longer-term franchise deal to operate Aqueduct, Belmont Park, and Saratoga, officials said Jan. 21.

  • New York OTB Could End in June

    The New York City Off-Track Betting Corp. will cease operations June 16 unless state officials provide regulatory relief before then, according to a Jan. 16 report to the corporation's board of directors.

  • New York Franchise a War of Words

    The temporary extension given to the New York Racing Association to operate Aqueduct has allowed government officials to boost the rhetorical wars against each other over the failure to devise a long-term franchise deal.

  • New York Franchise Talks Lingering

    Racing will continue to be run at Aqueduct on New Year's Day under an agreement reached Dec. 31, but government negotiators failed to resolve the permanent Thoroughbred franchise issue in New York.

  • NYRA, Board Strike Temporary Deal

    With talks going down to the wire, the New York Racing Association has reached an agreement with a state government oversight panel to at least continue running racing on a brief, temporary basis.

  • NYRA Oversight Chair: No Guarantees

    The new head of a state government panel that will oversee Thoroughbred racing in New York Jan. 1, 2008, said he could not guarantee that horses will be running at Aqueduct in two weeks.

  • NYRA Oversight Panel Has New Chair

    A state government panel in charge of overseeing the New York Racing Association's finances--and the racing franchise as of Jan. 1, 2008--has a new chairman at a critical moment in the franchise negotiations.

  • NYRA Offered Temporary Extension

    A state government panel Dec. 17 approved letting the New York Racing Association continue running racing on a temporary basis until officials can agree on a new franchise-holder for Aqueduct, Belmont Park, and Saratoga.