New York Officials Considering Overhaul of Racetrack Industry | bloodhorse.com...
New York officials are considering a major overhaul of the state’s Thoroughbred racetrack industry, with an eye to possibly shutting down Aqueduct racetrack, having a new operator run Belmont and giving the New York Racing Association rights to operate Saratoga.
The plan being examined by officials with Gov. Eliot Spitzer comes as the administration continues to review bids from four entities who want to control the franchise now held by NYRA to run the three tracks.
Two officials close to the matter, who spoke on condition of anonymity, said the Spitzer administration in the past week or so began eyeing a plan that would end the current bidding process for Aqueduct, Belmont and Saratoga. Unclear is whether the state, though, would necessarily re-start the entire bidding process for the new idea under consideration.
Driving part of the new route under consideration, officials say, was the recent withdrawal by MGM Mirage from a deal in which it was to develop a video lottery terminal casino at Aqueduct; MGM several years ago signed the casino agreement with NYRA. The withdrawal made officials examine whether it makes sense to continue operating the two downstate tracks run by NYRA.
Officials said the new idea under consideration involves three main components. First, the state would shut down and sell Aqueduct, which sits on 192 acres in Queens that could be ripe for a variety of real estate development plans. One source theorized that some of the sale of the assets could help to retire some of NYRA many financial obligations.
Daily News: Spitzer may say neigh to Aqueduct, but have big plans for Belmont...
ALBANY - Gov. Spitzer is considering a plan to close the famed Aqueduct Racetrack and expand Belmont Park by adding a casino and more racing at the Long Island track, sources in the Capitol said yesterday.
The plan also would involve allowing remnants of the scandal-marred New York Racing Association to survive and manage the state's third thoroughbred track, Saratoga Race Course, the sources said.
"The governor's people have told both houses [of the Legislature] that this is something they want everyone to take a look at," a racing industry insider said.
NYRA's franchise to operate the three thoroughbred tracks expires on Dec. 31, and many observers say it's a long-shot in the competition to continue running the venues.
The Saratogian - Idea calls for Aqueduct closure, Saratoga, Belmont run separate
SARATOGA SPRINGS - A plan to sell the Aqueduct racetrack for commercial development and let separate track operators run Belmont Park and Saratoga Race Course is reportedly being considered by Gov. Eliot Spitzer - and, according to a racing analyst, could put Saratoga at a serious disadvantage.
A report Thursday in the online racing publication, Bloodhorse. com, said that officials might be considering a plan to let the New York Racing Association keep Saratoga and have another firm run Belmont, effectively splitting the franchise.
Paul Larrabee, the spokesman for Spitzer, said the governor had no comment on the Bloodhorse report but that he was evaluating potential operators.
"He also recognizes that today there is a change in the way gaming is incorporated into racing, as well as potential economic opportunities that may exist in the state," Larrabee said. "The governor wants New York to maximize these assets."
Spitzer had previously said he would name a new operator by Memorial Day, but on Thursday Larrabee said the governor wants to make a decision by the time the state's legislative session closes at the end of June.
NYRA's franchise to run the three racetracks expires at the end of this year. Three firms are challenging NYRA for the new contract.
The concept reported on in Bloodhorse calls for Belmont to get video lottery terminals that have thus far been planned for Aqueduct. If this occurred, Belmont's purse structure would be far superior to Saratoga's, potentially threatening the quality of upstate racing.
Newsday.com: Spitzer's track plan a nonstarter for Assembly...
What some are calling a proposal by Gov. Eliot Spitzer to shut down the Aqueduct raceway and winterize Belmont Park racetrack for year-round use, has met with a cool reception in the state Assembly, which would have to approve the plan, an influential Assembly leader said Friday.
Spitzer informally brought up the idea to Assembly members as an alternative to a current proposal that would leave a single organization in charge of all three of the state's premier racetracks, Belmont, Saratoga Race Course and Aqueduct, said Assemb. Gary Pretlow (D-Mount Vernon), chairman of the Assembly's committee on racing and wagering.
"There have been vigorous internal discussions, but nothing has been advanced as a proposal right now," Larabee said.
Spitzer has convened a panel of experts from the state budget office, the state racing and wagering board and Empire State Development Corporation. The panel will examine operations, development opportunities and the possibility of adding recreational gaming at the state's three thoroughbred racetracks.
But "certainly the legislature would be consulted" before decisions were made, Larabee said.
The plan, which Pretlow said Spitzer has already floated, would involve finding separate management companies for Belmont and Saratoga, while selling Aqueduct's substantial acreage in Queens for private real estate development to help pay off existing debt, Pretlow said.
Thoroughbred Times: Spitzer could delay naming of franchise operator...
New York Governor Eliot Spitzer had pledged to name a new Thoroughbred racetrack operator by Memorial Day but might delay the decision until June, before the state legislative session ends.
At least one bidder, Empire Racing Associates, already has named a transition team to take over Saratoga Race Course, Belmont Park, and Aqueduct in the event that it gets the contract.
All plans might be on hold, however, following an unconfirmed report that Spitzer has considered letting the New York Racing Association keep Saratoga, letting another firm run Belmont, and selling Aqueduct for commercial development.
The Saratogian - Empire names 4 from NY to transition team...
SARATOGA SPRINGS - Four members of Empire Racing Associates' nine-member transition team would be from New York while the others are from Kentucky, Florida and California, the firm announced Friday.
Empire has assembled its team in the event that it gets the contract to run Saratoga Race Course, Belmont Park and Aqueduct. Empire is one of three firms challenging current franchise holder New York Racing Association, whose contract expires on Dec. 31. Gov. Eliot Spitzer has pledged to name a new track operator by Memorial Day, and he and the state Legislature have until late June to reach a final decision.
Excelsior's transition team would be lead by Empire CEO Jeff Perlee, former head of the state Lottery Division, who has a home in Saratoga Springs.
Fellow New Yorkers are Saratoga Springs' Dennis Brida, a former New York Thoroughbred Horsemen's Association president and former New York Thoroughbred Breeders executive director; Chris Riegle, president and general manager of Finger Lakes Gaming and Racetrack; and NYTHA board member and trainer Patrick Kelly.
The team would oversee the transfer of operations during a 90-day period, Empire says.
There are five other members. They are:
รค Steve Sexton - president, Churchill Downs Racetrack; executive vice president Churchill Downs Inc. George Haines - vice president and general manager, Santa Anita Park. Allen Gutterman - vice president of marketing, Santa Anita Park. Bill Murphy - president, Gulfstream Park. Kenneth Dunn - president, Calder Race Course; senior vice president, Florida operations - Churchill Downs Management Co.
Excelsior Racing Associates' leaders include Las Vegas casino mogul
Steve Wynn and fellow casino developer Richard T. Fields.
"Excelsior's transition plan, titled QuickStart 120, is an innovative system through which Excelsior could seamlessly assume control of the racing franchise and begin working on behalf of New York racing fans, taxpayers, and local communities alike," spokesperson Katie Burke said. "Pioneered by SM&A, a leader in transition planning with considerable experience in this area, the QuickStart program embodies the accountability and transparent stewardship that the Panel has sought in bidders' proposal.
NY Times - Spitzer Is Said to Be Weighing a Track Overhaul That Would Close Aqueduct...
Aqueduct, the blue-collar racetrack in Queens, could be closed under a plan reportedly being floated by Gov. Eliot Spitzer to overhaul racing at three New York thoroughbred tracks.
The horse racing industry Web site Bloodhorse.com reported last week that Governor Spitzer had proposed that Aqueduct be shut down and the 192-acre property be sold to developers. Belmont Park, about nine miles away and just over the Nassau County line, would then be converted to operate nearly year-round and would include video lottery machines. Racing would continue at Saratoga Race Course in Saratoga Springs, which currently operates six weeks a year.
In addition, separate interests would run Belmont and Saratoga, with the New York Racing Association continuing to run Saratoga and a different entity operating Belmont and its video lottery terminals. The three tracks are now run by the racing association, but its franchise expires at the end of this year. The association is one of four groups vying to run the tracks starting in 2008.
