NYRA Deal Passes NY Legislature

[Kasept]

Originally Posted by theiman

Suddenly has an edit note on it that wasnt there earlier.

It was something about his intelligence.

No it wasn't. It was a rejoinder in the same vein that the NYRA discussion involving Whodey has had all along and simply challenged his knowledge of the full content in the debate. And minutes later when I was unhappy that I had written it, I yanked it.

It's pretty rare that I throw a haymaker around here.. And if I do I invariably think better of it.

[theiman]

Originally Posted by Kasept

No it wasn't. It was a rejoinder in the same vein that the NYRA discussion involving Whodey has had all along and simply challenged his knowledge of the full content in the debate. And minutes later when I was unhappy that I had written it, I yanked it.

It's pretty rare that I throw a haymaker around here.. And if I do I invariably think better of it.

Thats fair, sometimes we regret what we post, at least we have the chance to change it.

Nobody still has addressed the other part of my post.
NYRA's Disclosure projections for 2008 called for a breakeven year on the B/L
However, as part of that projection was the gain on the sale of the parcel of land, at the Big A, for approx $15M. If NYRA no longer has a claim to the land, and it is sold for $15M who gets the $15M? If NYRA doesn't get the $$ then aren't the revised projections going to show a $15M loss for the bottom line?
If so, why are they so good to run the race track business and when will the state have to bail them out, make additional $$ donations, or will NYRA file Chapter 11 again(I am not so sure they can file chap 11 or a chap 7)


As for the poster who mentioned that Magnas Gulfstream casino operations are a failure, shouldnt you also mention that Magnas Remington Park casinos have outperformed expectations, while at the same time Remington Park cross promotes slots customers to the racetrack operations.

It seems readers of these posts would be better informed if as much of the facts are stated, not just the ones that back your side of the coin.

[blackthroatedwind]

Originally Posted by theiman

whatever

Here's the good news for you, if you care about racing, be it in NY or elsewhere, against your wishes, the best possible people were chosen to continue to run racing in NY.

There's a lot wrong in racing, and certainly everything in NY isn't perfect, but you might want to consider moving on and applying your dismay to another cause that is still being fought.

[theiman]

Originally Posted by blackthroatedwind

you might want to consider moving on and applying your dismay to another cause that is still being fought.

Whatever

I just hope that the racetrack I grew up with is still operating when I come back and visit NY.

By the way, I found the answer to my question regarding the sale of the parcel of land valued at approx $15M. Good Luck

[Hickory Hill Hoff]

Originally Posted by theiman

Whatever

I just hope that the racetrack I grew up with is still operating when I come back and visit NY.

By the way, I found the answer to my question regarding the sale of the parcel of land valued at approx $15M. Good Luck

At least another 25 years.....and will STILL have the best thoroughbred racing in the country..... no matter what!

[freddymo]

NYRA is never going to run like a business. The model hasn't changed and we will invariably see continued need for capital influx from the government. Will it be because the government isn't treating NYRA fairly with slots for whatever stupid reasons,or some other complex mobo jumbo, perhaps. NYRA may loss money simply because there is zero motivation to do anything other then administer as a worthy custodian to New Yorks racing format, which is a good thing for racing but shouldn't it be done with costs in mind? Whatever the future BS and or reasons for the future losses it really is pop corn and peanuts in the whole scheme of things.

More importantly hopefully the current leaders close Aqueduct and turn Belmont into a show piece.. I doubt it but one can dream

[pgiaco]

I feel very confident with Steve Duncker and Charlie Hayward leading NYRA forward. The bin-Laden Racing Club had a better chance to get the franchise than NYRA when the process started. The State of New York did EVERYTHING in their power to get NYRA out (no approval of VLTs, phony tax claims, half baked audits by the disgraced Alan Hevesi, etc). Yet NYRA played their hand flawlessly AND presented the only coherent structure to run racing in NY. Anyone who thinks this was some back room, glad handing favor to NYRA is either naive or hasn't been paying attention.

[whodey17]

Originally Posted by Hickory Hill Hoff

At least another 25 years.....and will STILL have the best thoroughbred racing in the country..... no matter what!

I would debate you on this if Cali did not race at the Fairplex. Take the Fairplex out and Cali racing is right up there with New York when it comes to year round racing. But right now, New York is the best.

[ELA]

NYRA "projecting" a $15m loss is irrelevant and has nothing to do with their capabilities and abilities. That "projection" is based upon a snapshot in time and is part of a normal budget and planning process. It was also mandatory as part of the bankruptcy process. Basing one's opinion on an alleged $15 loss -- as a result -- is not only myopic but foolish as well.

The most qualified people and organization was chosen to run racing in NY, and most importantly, it's going to be a new organization with new a new operational mindset and culture and new operational proceedures -- and all of this is due, not to stupidity or incompetance, but due to a broken business model.

If the business model for NY racing is not fixed, it doesn't matter who runs racing.

Eric

[Alan07]

Before you know it Fairplex will have Hollywood's Dates