NYRA Lives To Race Another Day
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- April
- 28
The New York Racing Association announced today that a bankruptcy judge has signed off on its reorganization plan, meaning the state’s bailout got the approval from thecourts.
In one of his final acts before he resigned, former Gov. Eliot Spitzer approved a 25-year deal with NYRA to continue to run racing at Aqueduct and Belmont in the
New York City-area and at Saratoga, north of Albany.
The state also included a $105 million bailout of NYRA to help them get out of bankruptcy. The state gets to own the land at the tracks and form a new NYRA board.
“Today’s confirmation represents one of the most significant events in what has been a complex and protracted franchise process,” said NYRA Chairman C. Steven Duncker.
The Associated Press, meanwhile is reporting that the creators of the Hard Rock Cafe and the Mohegan Sun casino are vying to run video lottery terminals at Aqueduct.
The companies who have submitted proposals to run the VLT parlors include: Capital Play Inc. and the Mohegan Sun casino; Aqueduct Gaming, which includes Delaware North Companies Gaming and Entertainment and Saratoga Harness Racing; and SL Green Realty Corp., a New York City developer with plans to build a Hard Rock entertainment facility.
This entry was posted
on Monday, April 28th, 2008 at 4:23 pm by Joseph Spector.
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