UPDATE: State meets obligation to NYRA; Legislature OK's advance

[pointman]

While the lack of a triple crown bid certainly hurts NYRA quite a bit, let's be frank about what is really going on right now. NYRA has to make these threats in order to get NY's incompetent politicians off their azzes and to live up to the agreement they made to NYRA. No one should blame NYRA here, they would be fine if they were getting the money they are owed by NYCOTB.

As usual, the NY Legislature will wait to the last minute and then get NYRA enough money to keep operating.

Belmont Stakes day should be a real pleasant day at the racetrack and the Belmont Stakes itself will likely be an excellent betting race, a managable crowd, and a lot less morons clogging up the machines and windows.

[Kasept]

These aren't threats at this point. They're facts. The Association will run out of money, period, unless the state lives up to its' commitments. Albany's allowance for NYC OTB's ineptitude and selfishness, and the state's long-running inability to follow through on the VLT deal has created this situation, and NYRA is not playing some brinksmanship game. They're stating the reality.

[pointman]

Originally Posted by Kasept

These aren't threats at this point. They're facts. The Association will run out of money, period, unless the state lives up to its' commitments. Albany's allowance for NYC OTB's ineptitude and selfishness, and the state's long-running inability to follow through on the VLT deal has created this situation, and NYRA is not playing some brinksmanship game. They're stating the reality.

I don't doubt that for a second, Steve. But we both know that the legislature won't do anything until the last second and there is little chance that they will let NYRA run out of money.

I do agree that it is sad that NYRA has to resort to grovelling to get these morons to live up to their obligations. The silver lining in the clouds may be that as NYCOTB continues to fight the legislature and fail to provide them will the real financials, they may just overplay their hand enough to get the legislature to hand over their operations to NYRA. Though, I know that may be a little too wishful as I doubt these legislators will give up their patronage machine easily.

[freddymo]

Originally Posted by Kasept

These aren't threats at this point. They're facts. The Association will run out of money, period, unless the state lives up to its' commitments. Albany's allowance for NYC OTB's ineptitude and selfishness, and the state's long-running inability to follow through on the VLT deal has created this situation, and NYRA is not playing some brinksmanship game. They're stating the reality.

We all hope NYRA gets what has been promised..That being said they aren't going to run out of money, they aren't going to close, and NYC OTB will continue to exchangely what it has been. You are talking about completely insignificant money and the State will evidentually even if is 1 sec before every check bounced make good.

There aren't going to be VLT's at Aqueduct in 2011 and most likely not till a 6/1/2012 if at all.

How about a 2011 calender as follows:

1/1/11 thru 1/15/11 CLOSED
1/16 thru 4/15 Fri- Sun There aren't any horses anyway save Hedge Fund
4/16 thru 7/15 thurs- Sun Full fields and run 10 races a day
7/16 thru 9/15 Tues- Sun Obviously SPA is a big earn
9/16 thri 12/31 Thurs- Sun

No G3's more then 100k
Most G2's 150 none more the 200k
Make the Met, Cigar 600k, The Belmont a Million
All other G1's 300k MAX most 200k

Increase overnite purses by 20% across the board

Maybe then the state will take NYRA serious and more importantly NYRA will be able to support itself and not have to beg. And I realize NYRA deserves everything that they were promised, but deserving it and actually getting it are completely different.

[SOREHOOF]

This is insane. Our politicians are fighting over who gets what piece of the big fat VLT pie. Meanwhile the pie is getting cold, it's been sitting around for years, the govt. wants to keep NYCOTB going, in all of it's wasteful and incompetent glory, while they let the cash cow starve to death. No slots. No money. But they still fight over who's gonna get the money. The cow might starve before anything gets done.

[mark2061mn]

http://www.bloodhorse.com/horse-raci...m_medium=email

Paterson says he expects the Legislature to approve a $17 million loan to keep the New York Racing Association afloat. Its cash flow is hurt by delays in getting video lottery terminals built and operating at Aqueduct.

[pointman]

Paterson to push for $17M loan for NYRA
By Matt Hegarty

New York Gov. David Paterson said on Tuesday that his office would push for passage of legislation that would loan the New York Racing Association $17 million to address the association's financial difficulties. Paterson made the comment during a press conference on Tuesday after being asked if NYRA would run out of money prior to the opening of its meet at Saratoga Race Course in Saratoga Springs on July 24.

"That's not going to happen," Paterson said. "We have a plan to loan NYRA, in the short term, money to get through Saratoga and we're working on a long-term plan to help beyond that."

NYRA officials did not immediately return phone calls on Tuesday afternoon, but on Monday, Charles Hayward, the president of the association, said that he was scheduled to meet with officials in Paterson's office on proposals for the loan. During the press conference, Paterson said he expected the legislature to approve a $17 million loan to the association, but he did not provide specifics on how the loan would be structured. NYRA has been seeking that amount under previous legislative efforts that have fallen short, in part because of legal complications that restrict how the state can loan money.

[hoovesupsideyourhead]

monmouth will be crazy..if this does happen