Saturday, July 7, 2007

Albany Times Union - timesunion.com: Racing Franchise Getting “Sorted'’ Out by James Odato...

Gov. Eliot Spitzer revealed he is fostering a discussion on what to do with Aqueduct Racetrack, and selling it isn’t off the table.

Standing about 40 miles north of the Saratoga Race Course, Spitzer revealed he is trying to figure out whether it makes sense to split the racing franchise so that real estate concerns, gaming specialists and racing pros have a piece of the action.

After a speech at Bolton Landing, Spitzer talked about his protracted examination of what to do now that a fierce competition is under way for the rights to the tracks and the operation of a video lottery terminal casino at Aqueduct.

He said relatively favorable things about the New York Racing Association, which has been running the tracks since 1955 but faces the expiration of its franchise at year’s end.

The governor said former NYRA manager ran the three tracks inadequately but the current officials at the racing association are professional.

Then again, he wondered, what about maximizing the facilities? Saratoga and Belmont are doing fine, he said, but he said keeping a track at Aqueduct may not be the right course.

“And those who know how to run a race course don’t necessarily know how to run a real estate company,” he said. He gave no timetable as to when he’ll make a decision on the franchise.