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

[pmacdaddy]

Originally Posted by parsixfarms

NYRA is no different from any business with cash-flow problems. In this regard, it really isn't relevant who's not paying them. It's really a simple question: either NYRA and its board can be completely dependent upon the State to solve their short-term cash problem, or they can try to address their cash issues through other means. Having fought as hard as they did for the franchise, I can't believe that the only answer to their current situation is to shut it down if the State doesn't come through with the cash.

I don't know. I would say NYRA is quite different as their business plan (assumption of VLT), ties NYRA's survival directly to the State. The State and OTB are certainly undesirable bedfellows, but the reality is that they are NYRA's business partners. If the State isn't willing to bridge the gap for now, it can't bode well for the future.

I also don't know how "short term" this need really is. If they get this $17M and OTB screws them some more and State delays VLT's another 2 years, what then?

Ultimately, I assume the State will come up with the $17M. Hopefully, getting NYS on the hook a bit motivates them a bit to get OTB/VLT on track.