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Originally Posted by eurobounce
We all know it is a not profit organization. But not for profits are able to keep money on the books. They have to keep money on the books in order to pay for expenses. Not for profit really only means that they do not pay taxes. But the NYRA does not have enough money to cover their operating expenses. It is just a poorly ran non-profit.
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I am far from a NYRA apologist and I do believe that the old guard operated with their head in the sand for many years but if you look at the situation objectively, between the state, otb's, and out of state competition, how could NYRA survive without help? Its a pretty simple business that has one revenue source and many mouths to feed. You can say its run poorly but how do you really know the issues that they face?