Wednesday, February 29, 2012

Where is All This Lovely Money Coming From?

Our good friends over at the Paulick Report were quick to announce that the New York Racing Association (NYRA) is boosting purses 27% for the 2012 Belmont Spring meet and the Saratoga meet.


Twenty-seven percent!!

Vingt-sept pour cent!! if you are Jean Dujardin.

And here's some statistics that will leave you gobsmacked: Average daily purses will see a 44% increase at Belmont; 39% at Saratoga. Amazing!

My first reaction: "Wow! They must be raking in the big bucks at the new Aqueduct racino!" But wait a minute ... Hasn't the NYRA been caught up in a web of financial troubles for some time? Fiscal problems? Bankruptcy? Bailouts?

According to New York State Comptroller Tom DiNapoli,
"NYRA stands to squander significant revenue from the recently opened VLT franchise at Aqueduct." [Jan. 24, 2012]

Squander? Genius Restructure? A ginormous VLT windfall?

Un mystère intriguant...


Anonymous said...

The money is coming from slots which is run by Genting, not NYRA.

Anonymous said...

The New York Thoroughbred Breeding and Development Fund reported receipts of $1.6 million to its board of directors in February from the Resorts World Casino New York at Aqueduct since the spinning of slots began on October 28