NYPost: Cuomo to solicit bids; No criminal wrongdoing in takeout snafu

[OTM Al]

Originally Posted by Kasept

State officials believe operators of such prestigious tracks as Churchill Downs, site of the Kentucky Derby, and Santa Anita Park, in Arcadia, Calif., as well as the managers of major entertainment destinations, will pay huge fees to run the three New York tracks.

The better question is, who in their right mind would bid considering that the State has shown that they will not honor the contracts and deals they have made? There was a system of due process built into the original contract. It was not followed. The deal struck when the State violated the contract the first time was that control would be returned to the franchise in 3 years. Now they would violate this as well? And they expect someone just to pony up millions for such a privilege?

[Brilliance]

Originally Posted by OTM Al

The better question is, who in their right mind would bid considering that the State has shown that they will not honor the contracts and deals they have made? There was a system of due process built into the original contract. It was not followed. The deal struck when the State violated the contract the first time was that control would be returned to the franchise in 3 years. Now they would violate this as well? And they expect someone just to pony up millions for such a privilege?

OTM Al,will the adw( NYRA )be affected by any of this?

[OTM Al]

Originally Posted by Brilliance

OTM Al,will the adw( NYRA )be affected by any of this?

No idea. Don't work there. I would guess not, at least in the short term, but who knows. A better question is why are they only allowed to take customers from NY and CT? Surely if the State wants them to stand on their own without slots, then they should be allowed to sell their product wherever it is legal to do so.

So does the successful bidder have to agree to run all three tracks? Will Aqueduct, Belmont, and Saratoga be unbundled? I can envision a cockamie deal in NY over dates like we had (have) here in Florida.

[Left Bank]

So, If the state terminates the deal agreed to in 2008, Does NYRA get the deeds to the tracks back?
Sounds to me like politics as usual,with crooked politicians making up the rules as they go along to profit financially.

[Gaelic Storm]

http://tenoonan.com/2012/09/24/lates...w-york-racing/

Good blog post by Tom Noonan.

[GenuineRisk]

Originally Posted by Gaelic Storm

http://tenoonan.com/2012/09/24/lates...w-york-racing/

Good blog post by Tom Noonan.

Thanks for posting the link. That was a good op-ed. Money quote (literally and figuratively):

<<Then there is the matter of the Cuomo Super PAC, or as it is known officially, the Committee to Save New York. The New York Times reported in June that casino interests had contributed some $2.5 million to the group. The Governor has refused to divulge the sources of other contributions that were made before the effective date of a law mandating such disclosures. What we do know, however, is that the Governor has made changing the state constitution to allow casinos one of his priorities. We also know that his interest in horse racing does not extend to attending premier events such as the Belmont Stakes or the Travers, but that in the space of less than four months, he has gone from ramming through a state government takeover of racing to now contracting it out to the highest bidder.>>

And, once again, we get to see what the Supreme Court hath wrought with that b*llsh*t Citizens United decision.

[OTM Al]

Originally Posted by Cardus

Imagine if that happened. I don't see it happening, but it is an interesting thought.

And to be considered: Will there be an Aqueduct under new management, or will the State have sold it to non-racing interests?

The whole property at Aqueduct is the main reason behind the State initially breaking the Franchise Agreement. It's not the grand prize but a block that was needed to get there. The agreement stipulated that the State had the right to develop the property except for the racing property. The convention center plan required that property and thus the coup. The real grand prize, for anyone who really cares, isn't even the grease from the gambling industry. It's the development rights to the current convention center property, the Jacob Javits Center, 6 full blocks of riverfront midtown Manhattan property that is now getting a subway extension to reach it. What you think that is worth? If anyone doesn't care about the animals, it's the individuals in Albany.