Strife Building Over New York VLT Proceeds
At issue is an infusion of cash flowing since October to the Nassau County Off-Track Betting Corp. from 460 video lottery terminals—out of 5,500 total VLTs—at Aqueduct's Resorts World casino.
Keyword: video lottery terminals
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New York OKs Full Casino for Tioga Downs
Tioga Downs, a Standardbred track west of Binghamton in the struggling Southern Tier region of New York, will be permitted to install slot machines and table games under a plan approved Aug. 30 by the New York State Gaming Commission.
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In Saratoga, Passion for Racing and Politics
A decision on the re-privatization of NYRA was delayed, but groups in the city of Saratoga Springs are taking full advantage of the well-attended summer race meet to reiterate their position in advance of the 2017 legislative session.
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Overnight Purses High for Saratoga Meet
The most lucrative North American race meet of the year thus far in terms of overnight purses begins July 22 with the opening of Saratoga Race Course.
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Major Expansion Planned for Aqueduct Casino
The operator of the video lottery terminal casino at Aqueduct Racetrack plans a December groundbreaking on an expansion project expected to add more than 750,000-square-feet to the facility, but the plan hasn't been presented to NYRA.
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Absent a Deal, Finger Lakes Future in Doubt
Thoroughbred trainers, owners, and breeders are scrambling to determine the future of racing at Finger Lakes after lawmakers ended their 2016 session without resolving how racing will be able to compete in the face of a new commercial casino.
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NY Prepares for Potential Casino Competition
One of the last acts of the New York legislature before its 2016 session ended June 18 was to send a message to one of its neighbors: New York is poised to act if New Jersey moves to build casinos near the New York border.
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Pretlow: NYRA Privatization Talks Stall
Talks have stalled over returning control of the New York Racing Association to private hands after a four-year period in which appointees of Gov. Andrew Cuomo have dominated the not-for-profit corporation's board of directors.
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Audit: NYRA 'Overstated' Financial Condition
New York's top fiscal watchdog said the New York Racing Association's portrayal of its financial improvements have been artificially inflated after an audit found the not-for-profit operation has run up deficits of $109 million on the racing side.
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Senate Committee OKs NYRA Legislation
A measure to end the state's control of the New York Racing Association is advancing in the New York legislature, and a key lawmaker said Gov. Andrew Cuomo has still not revealed his own idea for the future of the racing organization.
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NY Regulators Tighten Underage Gambling Rules
The New York State Gaming Commission May 23 approved a regulation to standardize and increase penalties against gambling operations—including racetracks—that let any minor under age 18 place wagers on their products.
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New Aqueduct VLTs Won't Pay to Purses, NYRA
The president of the New York THA said it's disappointing that revenue from the planned 1,000 new VLTs at Aqueduct won't produce revenue for purses and the New York Racing Association.
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No Purse Protection for Finger Lakes
The head of the horsemen's group at Finger Lakes Gaming & Racetrack is predicting the end of racing at the upstate Thoroughbred track, after a new state government budget deal failed to protect purse levels.
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NY Senate Budget Addresses Racing Issues
The New York State Senate budget resolution for fiscal 2016-17 includes a few recommendations for protecting revenue for the horse racing industry given impending competition from full-scale casinos.
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WV Racing Supporters Tout Economic Benefits
Pro-racing lawmakers in West Virginia took part in a March 1 Capitol press conference to discuss the economic impact of Thoroughbred racing and breeding given legislation that would decouple live racing from gaming.
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Racetrack Gaming Issues Heat Up in WV
The West Virginia Senate Feb. 25 had first reading on legislation that would defund and decouple greyhound racing from gaming but maintain requirements that Thoroughbred racing receive its share of gaming revenue.
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WV Bill Would Decouple Racing and Gaming
Legislation that would remove the requirement that racetracks with gaming also offer live racing has been introduced in the West Virginia Senate.
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Tribe Sues to Block Finger Lakes-Area Casino
A New York Native American tribe has filed a lawsuit to block a recently approved casino that has everyone from upstate casinos to racetracks worried about losing business to the new gambling resort under construction.
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NY Budget Proposal Aids Finger Lakes
Gov. Andrew Cuomo's proposed budget would also increase the takeout to cover regulatory costs and could divert VLT money from purses to equine health initiatives.
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OTB Corporation Wants VLT Casino at Belmont
Belmont Park would become home to a casino with 1,000 video lottery terminals under a plan put forward Dec. 29 by Nassau Regional Off-Track Betting Corp. But the plan is considered a longshot.
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Move Stirs Speculation on Belmont VLT Casino
An eight-acre parcel of land on the grounds of Belmont Park is no longer being offered to private developers, a move that is raising concerns in some circles that the state may be eyeing the site for a VLT casino.
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Further Cuts Expected for WV Racing Dates
The West Virginia Racing Commission Nov. 18 approved customary live racing dates, but the schedules for Hollywood Casino at Charles Town Races and Mountaineer Casino, Racetrack & Resort are expected to be drastically reduced.
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Ohio Racing Benefits From Misfortune in WV
The early closure of Mountaineer Casino, Racetrack & Resort in West Virginia has had a positive impact on Hollywood Casino at Mahoning Valley Race Course, at least for the first six days of its 2015-16 meet.
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ADW, Revenue Reinstatement on WV Wish List
Legislation authorizing advance deposit wagering is on the wish list for a group of racing industry stakeholders in West Virginia, according to a report that was approved by a committee.
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NYRA Touts Finances, Customer Service
NYRA president Christopher Kay, whose contract extension was announced Oct. 21, said the organization most likely will experience an increase in profit this year exclusive of revenue from video lottery terminals.
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WV Racing Report Approval Stalls
A group of West Virginia racing stakeholders has prepared a report on the state of the industry and makes suggestions on how to improve the economics, but when it is approved remains to be seen.
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WV Racing Industry Sets Legislative Goals
The West Virginia racing industry will pursue several initiatives during the 2016 legislative session, including statutory changes that would lower the minimum number of racing dates for which tracks must apply each year.
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Delaware Park Battles With Regional Pressures
Track president Bill Fasy said Delaware Park continues to make money, but when it comes to long-term things like capital improvements, the racetrack gaming industry in the state needs some assistance.
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Historical Race Wagering Case Continues in KY
A Kentucky judge has denied motion to have historical race wagering machines brought to the courtroom for a demonstration. A trial has been set for next September, more than a year from now.
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Bill Lets New York OTBs Use Capital Funds
New York off-tracking betting corporations will be permitted to dip into their capital funds to help pay for operating expenses under legislation given recent final approval by the New York lawmakers.
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ThistleDown Reaps Results of Improved Program
This year's $500,000 Ohio Derby in retrospect can be considered a success on several levels, and management at ThistleDown Racino expects the marquee race--and the overall racing product--to only get better.
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Mountaineer Wins Approval to Drop 50 Dates
The West Virginia Racing Commission June 16 signed off on a plan by Mountaineer Casino, Racetrack & Resort to shave 50 racing programs from its 2015 schedule.
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WV Racing to Have Role in Legislative Review
The West Virginia Racing Commission June 2 authorized creation of a committee that will be charged with providing information to a legislative committee that will study the state's racing and gaming industries.
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Race Fund Revenue Up, Handle Down in PA
Distributions to horse racing from the state Race Horse Development Fund increased 9.5% in 2014 from the previous year, according to the annual Pennsylvania Gaming Control Board benchmark report released April 28.
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WV Analysis: Purses Can't Support Race Dates
A West Virginia Racing Commission purse analysis based on revenue projections from all sources indicates the state and its racetracks have serious issues to address regarding live racing dates in the future.
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New York VLT Revenue Declines in Fiscal Year
Their financial performances were no secret during the year, but now the final numbers for fiscal 2014 are in and, for the first time, New York racetrack-based casinos showed their first year-to-year dip in net revenue.
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New York Racetracks Set to Add More VLTs
New York lawmakers have given final approval to an expansion of video lottery terminal games at six of the state's nine racetrack-based casinos.
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New York Senator Questions Spending on Racing
A measure giving flexibility to the financial operations of the New York State Thoroughbred Breeding and Development Fund passed by a comfortable margin in the state Senate, as it has every year since 2010.
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Bill Would Protect Purses at Finger Lakes
Legislation has been introduced in both houses of the New York legislature to require the owners of a future commercial casino to make whole any losses suffered by horsemen and breeders at nearby Finger Lakes.
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WV Budget Plan: Take Another $2M From Purses
Legislation for the fiscal 2016 state budget in West Virginia is calling for another reduction in video lottery terminal and table games revenue that goes to purses at Thoroughbred and Greyhound tracks.
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Saratoga Study Touts Impact of VLT Revenue
Video lottery terminals at Aqueduct Racetrack have helped push up prices of New York-bred yearlings and increased the state's foal crop in what economic development officials say has been a far-reaching impact.
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New Round of Casino Bidding OK'd in New York
A New York casino panel has approved another round of bids for a gaming facility in the Southern Tier region of the state located near Binghamton and just across from the Pennsylvania border.
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Midwest Regional: Sitting on Go in Ohio
For the Ohio Horse Racing Industry, Nov. 24, 2014 marked both an end and a beginning.
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Handle Down, Purses Up at Laurel, Pimlico
The Maryland Jockey Club reported a decrease in pari-mutuel handle on live racing at Laurel Park and Pimlico Race Course in 2014, but total and average purses were up from 2013.
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Mahoning Valley Ends Meet With Record Handle
Hollywood Gaming at Mahoning Valley Race Course ended its inaugural meet Dec. 30 with record total pari-mutuel handle of $1,102,566.
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WV Racing Struggles With Plan for Stability
A request by management and horsemen at Hollywood Casino at Charles Town Races to reduce the number of live racing days for 2015 has renewed a discussion about the future of West Virginia Thoroughbred racing.
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Ohio-Bred Fund to Top $5 Million in 2015
The Ohio Thoroughbred Racing Fund, now fully supported by revenue from racetrack video lottery terminals, will almost double to more than $5 million in 2015.
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NYRA Plan Won't Recommend Changes at Aqueduct
The agenda for the Nov. 12 meeting of the board of the New York Racing Association was short and sweet: to discuss a re-privatization plan for the organization due next spring to the office of New York Gov. Andrew Cuomo.
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Mahoning Valley Opens Barn Area, Dirt Track
Hollywood Gaming at Mahoning Valley Race Course opened its barn area and dirt racing surface for training as scheduled Nov. 10 in advance of a Nov. 24 opening day.
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WV Taking Industry Approach on Racing Dates
The West Virginia Racing Commission is moving forward with a plan to fashion legislation that would allow flexibility on racing dates and perhaps new gambling offerings to generate revenue for the industry.
