JURISDICTIONS USA: AC, LV, MA, MS, NJ, NY INDIAN COUNTRY: CA INTERNATIONAL: RUSSIA, UK
ET AL HOUSTON?S DAUGHTER IN UNDERAGE GAMING INVESTIGATION INVESTOR EVENTS CONTACT US
TOP NEWS
NEW YORK TO REORGANIZE NYRA
After years of losing money, corruption charges and allegations of incompetence, the state of New York is finally reorganizing the association that runs its three premier racetracks.
Under the deal, the state will take control of the New York Racing Association for three years with Gov. Andrew Cuomo and legislative leaders appointing 12 of NYRA?s reduced board of 17 members.
After three years, NYRA will return to a majority of privately appointed board members.
NYRA will also resume receiving 7 percent of slot revenue from Resorts World at Aqueduct Park once implementation legislation is enacted. The state lottery had suspended payments following disclosures that cost NYRA?s long-time CEO Charles Hayward his job.
The deal does not threaten NYRA?s franchise to run Aqueduct, Belmont and Saratoga racetracks until 2033. New York several years ago had entertained the idea of bringing private companies in to replace NYRA.
Nor does the deal make mention of suspending racing at Aqueduct, which has been discussed in some quarters.
The state will conduct a national search to replace Hayward.
News 
Market Data 
Discover 
